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Good morning, readers!

This week, we begin in Kenya, where police detained Rose Njeri, a software developer and mother of two, for building a website that enables Kenyans to flag causes and email parliament concerning an unpopular tax bill that threatens to raise the cost of living in an already inflation-sticky economy. Due to the holiday court calendar, Njeri remains behind bars awaiting criminal prosecution for what officials claim interfered with government systems, but was really a peaceful resistance to unfavorable economic policy.\ \ To a similar tune, in Venezuela, law enforcement stormed the home of Guillermo Goncalves, co-founder of El Dorado, a peer-to-peer trading app used by Venezuelans to exchange rapidly depreciating bolivares for stablecoins (digital tokens pegged to fiat currency like the US dollar). The El Dorado app filled a gap in Venezuela’s collapsing economy: offering a market-based exchange rate for bolivars and access to more stable currencies.\ \ In freedom tech news, Breez, a company building on the Lightning Network, added support for BOLT 12 and BIP 353 to its Nodeless Software Development Kit (SDK). This will enable wallets powered by the Breez Nodeless SDK to implement these features. BIP 353 makes it easier for activists and NGOs with an Internet domain to receive Bitcoin donations. And BOLT 12 brings greater privacy and efficiency to Bitcoin’s Lightning Network.\ \ We end with an interview with Hong Kong dissident Nathan Law, who turned to Bitcoin to stay active in his push for freedom and democracy in the wake of China’s authoritarian crackdown.

Now, let’s take a closer look.

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GLOBAL NEWS

Kenya | Criminal Prosecution of Software Developer

In Nairobi, Kenya, law enforcement raided the home of software developer Rose Njeri and took her into custody. Her alleged crime: building a platform that lets Kenyans review and email their elected representatives concerning an unpopular tax bill threatening to raise their cost of living. On May 30, 15 officers stormed her home without a warrant, seized her devices, and detained her incommunicado for more than 88 hours. Officials claim her web tool, which auto-generated feedback emails to Kenyan parliament, illegally interfered with government systems. Outside the police station, many Kenyans gathered in protest, demanding her immediate release. Last year, a similar finance bill triggered mass demonstrations and a brutal crackdown that left dozens dead. Njeri’s arrest shows the growing risks civic technologists face and depicts the growing trend of using state power to suppress peaceful pushback to unfavorable economic policy.

Venezuela | National Police Raid Home of El Dorado Founder

Venezuela’s National Police stormed the home of Guillermo Goncalves, co-founder of El Dorado, a peer-to-peer trading app used by Venezuelans to exchange rapidly depreciating bolivares for stablecoins like Tether (USDT) and Circle (USDC). The platform filled a critical gap: offering market-based pricing for bolivares and access to more stable currency. Nonetheless, the regime accuses Goncalves of fueling currency speculation, pointing to past comments where Goncalves highlighted the disconnect between the “official” exchange rate of the bolivar, as set by the Central Bank of Venezuela, and the parallel market rate. The arrests of those publishing truthful economic data and providing alternatives to 162% inflation under the guise of “stability” are hallmarks of a dictatorship that destroyed its currency and is now hunting down those trying to survive outside its system.

Tanzania | Blocks Access to X and Telegram Amid Financial, Political, and Media Repression

Tanzania restricted access to X and Telegram across major Internet providers following a hack of the Tanzanian police force’s official account. The platforms remain offline more than three weeks later in the lead-up to October’s presidential and parliamentary elections. The timing of the shutdown also coincides with the kidnapping of Ugandan journalist, lawyer, and Oslo Freedom Forum speaker Agather Atuhaire, who says she was tortured and sexually assaulted while in Tanzanian custody before being left at the border between Tanzania and Uganda. Recently, the government also banned the use of foreign currency in daily transactions, forcing citizens to rely on the weakening Tanzanian shilling. And in April, the opposition CHADEMA party was disqualified from participating in the October elections under the pretense of treason against party leader Tundu Lissu. The censorship of online platforms, suppression of opposition and dissidents, and laws banning foreign currency all signal a coordinated strategy to silence criticism and strip Tanzanians of both their political voice and financial autonomy.

Russia | Proposes Relocating Bitcoin Miners

Russia’s energy ministry is considering relocating Bitcoin miners to northern regions, where old energy infrastructure sits idle and the state can keep a closer eye. The plan comes months after the Kremlin banned mining across ten southern regions (including Dagestan and Chechnya), citing fears over energy shortages. But the ban has chiefly targeted individual and small-scale miners, not state-aligned corporations. Many independent miners, especially in poorer regions, used Bitcoin to escape financial isolation. Now, they’re being squeezed out in favor of top-down regulations. As the Kremlin tightens its grip on domestic energy and economic activity, it’s clear that the regime sees Bitcoin not as a tool for freedom but as something to be contained, regulated, and surveilled.

Israel | Freezes Bank Account of NGO Providing Aid in Palestine

Physicians for Human Rights Israel, a nonprofit providing medical aid in the West Bank and Gaza, has revealed that its bank accounts were frozen at the beginning of the year. The nonprofit, which previously ran regular medical missions in Palestine, says it was first blocked from making transactions, then warned by its bank, and finally notified in January that its account would be closed. These banking restrictions are not isolated. According to Lee Caspie, the deputy director of physicians for Human Rights Israel, other Israeli nonprofits providing aid to Palestinians receive similar financial treatment. Caspie shared that a new bill advancing would also impose an 80% tax on foreign grants to Israeli charities, with an exemption for those deemed acceptable by the government. These measures threaten to worsen a humanitarian crisis by leaving civil society organizations providing crucial support and services in Palestine financially cut off.

Hungary | Postpones Law That Would Ban Foreign-Funded Organizations

In a small win for civil society in Hungary, Viktor Orbán’s ruling Fidesz party postponed a vote on a sweeping bill that would grant the Orbán regime power to monitor, penalize, and potentially shut down any organization receiving foreign funds. Framed as protecting “sovereignty,” the proposal closely mirrors Russia’s foreign agent law and has been widely condemned as a death blow to Hungary’s independent institutions, media, and dissidents. While officials now say they need more time to “debate the means,” critics warn the delay is a tactical move, not a change of heart. The bill casts an intentionally wide net, branding foreign-backed efforts to defend press freedom and LGBTQ+ rights as threats to national identity and political discourse. “Its aim is to silence all critical voices and eliminate what remains of Hungarian democracy once and for all,” according to a joint statement signed by more than 300 civil society and media organizations.

BITCOIN AND FREEDOM TECH NEWS

Breez | Adds BOLT 12 and BIP 353 Support to Nodeless SDK

Breez, a company helping build out the Bitcoin Lightning economy, released support for BOLT 12 and BIP 353, enabling wallets using the Breez Nodeless SDK (such as Misty Breez and Klever) to implement these features. BOLT 12 is a critical update to the Lightning Network that brings increased privacy and greater censorship resistance to Bitcoin transactions for those facing financial repression. It also introduces reusable payment requests for recurring payments (such as tips and donations to human rights defenders). BIP 353 enables individuals and organizations with access to a domain the ability to create static, human-readable payment addresses (such as user@domain) for Bitcoin payments. With this integration, NGOs or activists with an internet domain and wallet using the Breez SDK can receive uncensorable donations through their domain in an accessible way. Implementing these new Bitcoin features will provide users with greater financial freedom and autonomy under authoritarian regimes.

BTCNutServer | Accept Ecash Payments with BTCPay Server

A new experimental plugin called BTCNutServer is attempting to bring ecash payments to BTCPay Server. The idea is to allow users to accept Cashu ecash tokens alongside Bitcoin using BTCPay Server’s self-custodial and self-hosted infrastructure. Ecash specifically is a digital money system backed by Bitcoin and designed to offer instant, low-cost, and very private transactions. For activists and dissidents, ecash enables bitcoin payments without compromising financial privacy. But users must trust mints (entities that manage and issue ecash tokens) to custody their funds. Though still in early development, BTCNutServer could enable charities, nonprofits, and merchants in repressive countries to accept ecash through BTCPay Server and, in doing so, keep their financial activity hidden from state surveillance.

Private Pond | New Experimental Payjoin System

Private Pond is a new experimental project that builds upon the Payjoin protocol to improve both the privacy and efficiency of Bitcoin transactions. Payjoin works by mixing inputs of a bitcoin payment with inputs from the recipient, making it harder for outside observers to trace who paid whom. Private Pond takes this concept further: it is an application designed to optimize Bitcoin transaction rails (such as a platform’s deposits and withdrawals). It uses transaction batching to bundle many deposits and withdrawals into a single transaction, using incoming deposits to fund outgoing withdrawals. While it’s not production-ready, if Private Pond were implemented in other applications, it could lower fees, create stronger privacy, and expose fewer funds. Innovations like this help strengthen Bitcoin’s original purpose: a financial network that resists censorship and surveillance while staying efficient and scalable.

Chorus.Community | New Social App for Activists

Chorus.Community is a new social app introduced at the 2025 Oslo Freedom Forum that is designed for people who operate under surveillance or censorship. Developed on permissionless technologies like Bitcoin and Nostr, Chorus allows users to share updates, send voice notes, organize groups, and raise funds, all without needing an email, phone number, or approval from any central authority. Unlike traditional platforms, Chorus cannot easily be blocked or shut down. Future updates will include encrypted messaging and group features, further enhancing security. For activists, journalists, and organizers working in closed societies, Chorus offers a new way to stay connected, coordinate, and support one another. Human rights defenders can try it here.

Bitcoin Policy Institute | Upcoming Bitcoin Policy Summit

The Bitcoin Policy Institute will be hosting its third annual Bitcoin Policy Summit from June 25-26 in Washington, DC, bringing together lawmakers, academics, and advocates to help shape and understand the future of Bitcoin policy in the US. A highlight of the event will be HRF’s chief strategy officer, Alex Gladstein’s keynote, “Bitcoin is the Most Powerful Human Rights Tool of the 21st Century,” which will explain Bitcoin’s growing role in resisting authoritarianism and protecting civil liberties worldwide. Learn more about the event here.

HRF | Gifts 800 Million Satoshis to 22 Freedom Projects Worldwide

HRF gifted 800 million satoshis in its Q2 2025 round of Bitcoin Development Fund (BDF) grants, supporting 22 open-source freedom projects worldwide. These projects advance Bitcoin education, open-source software, mining decentralization, and privacy tools for activists contending with authoritarian regimes and dictatorships across Latin America, Africa, and Asia. Supporting censorship-resistant financial tools and permissionless technologies like Bitcoin, Nostr, ecash, Tor, VPNs, and more empowers dissidents, journalists, and civil society to organize, transact, communicate, and speak without state suppression, interference, or manipulation. Learn more about the grantees and their work here. This round of grants also marks the 5-year anniversary of the Bitcoin Development Fund! Watch our anniversary announcement video to celebrate this milestone with us.

OpenSats | Announces 11th Wave of Bitcoin Grants

OpenSats, a public nonprofit funding free and open-source software, announced its 11th wave of grants advancing the Bitcoin protocol as a tool for financial freedom. Among the projects, Mostro and Payjoin stand out for their importance to dissidents and anyone seeking greater financial sovereignty. Mostro is a peer-to-peer Bitcoin exchange protocol built on nostr, allowing users to trade Bitcoin directly without relying on centralized intermediaries that can be surveilled, censored, or shut down. Meanwhile, Payjoin enhances Bitcoin transaction privacy by breaking common heuristics used to trace payments, making it harder for authoritarian surveillance tools to identify payees and the amount transacted. Together, these tools give people living under repressive regimes more private, resilient ways to save and transact.

RECOMMENDED CONTENT

Nathan Law on Hong Kong’s Fight for Freedom, Bitcoin, and Lessons for the West with Ben Perrin

In this interview with Bitcoin educator Ben Perrin (BTC Sessions), exiled Hong Kong activist Nathan Law reveals how Bitcoin became a critical tool for resisting financial blacklisting under China’s authoritarian crackdown. With a $140,000 bounty on his head and no access to traditional banking, Law turned to Bitcoin to stay active in his push for freedom and democracy. Watch the full conversation here.

If this article was forwarded to you and you enjoyed reading it, please consider subscribing to the Financial Freedom Report here.

Support the newsletter by donating bitcoin to HRF’s Financial Freedom program via BTCPay.\ Want to contribute to the newsletter? Submit tips, stories, news, and ideas by emailing us at ffreport @ hrf.org

The Bitcoin Development Fund (BDF) is accepting grant proposals on an ongoing basis. The Bitcoin Development Fund is looking to support Bitcoin developers, community builders, and educators. Submit proposals here.

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Vor ein paar Tagen stieß ich auf einen faszinierenden Artikel von Michel Bauwens, Mitbegründer der P2PFoundation, mit Links zu weiteren Texten – zum Beispiel über den Puls der Commons –, die ich ebenfalls äußerst interessant fand.

Der Artikel zeigt unter anderem gut, wie unterschiedlich Commons aussehen können, so dass ich ihn heute als Ausgangspunkt nehmen möchte, um ein paar Puzzle-Steine in mein entstehendes Bild der Commons einzufügen.

Das Grundmuster menschlichen Zusammenlebens?

Bauwens betrachtet die Commons aus historischer Sicht, wie sie sich in verschiedenen Zeiten unterschiedlich manifestieren, manchmal gar nahezu verschwinden und heute in wiederum veränderter Form neu entstehen – und plädiert dafür, dass sie noch weit stärker werden sollten.

Er legt zunächst dar, was die Commons sind und was nicht. (zum Beispiel nichts, was vom Staat verwaltet wird, wie ein öffentlicher Park.) Ausschlaggebend ist, dass eine Ressource von ihren Herstellern oder Benutzern selbst betreut wird. Commons entstehen dabei durch Beziehungen. Sie sind etwas spezifisch Menschliches und eine Wahl, die „fast immer“ zur Verfügung steht, so Bauwens. Eine die Geschichte überdauernde menschliche Praxis.

Er nennt drei verschiedene geschichtlichen Entwicklungen:

• Eine lineare - Wie präsentiert sich der Commons über verschiedene, komplexer werdende, Phasen der Menschheitsgeschichte hinweg?
• Eine hin und her schwingendende: In der Geschichte einer Zivilisation werden die Commons in Zeiten von Überfluss -- und daraus resultierender Verschwendung uns steigender Ressourcen-Extraktion -- unterdrückt, konstitutieren sich aber dann als Gegenbewegung wieder neu.
• Eine stufenweise: Die heutigen, mit neuen Möglichkeiten ausgestatteten Formen der Commons könnten in der nächsten Phase unserer Zivilisation (oder nach unserer Zivilisation) eine entscheidende Rolle spielen.

Wenn man verschiedene Arten des Austausches betrachtet (Bauwens beruft sich hierbei auf Alan Fiske), kann man geschichtlich analysieren, welche zu verschiedenen Zeiten vorrangig waren (dies tat Kojin Karatani in The Structure of World History von 2014).

Die vier Muster sind:

• Gemeinschaftliche Beteiligung, Commons (die Gemeinschaft baut mir ein Haus, und ich helfe später bei einem anderen Hausbau mit; ein Beispiel aus neuerer Zeit ist die Entwicklung von Linux)
• Wechselseitiger Austausch (Geschenkökonomie – es wird eine etwa gleichwertige Leistung zu einem späteren Zeitpunkt erwartet)
• Hierarchisch bedingte Verteilung, wie im Feudalismus
• Marktwirtschaft (es gibt ein allgemeines Zahlungsmittel mit einem bestimmten Wert)

Bauwens: „Entscheidend ist jedoch, dass die Menschheit ständig bestrebt ist, Modus A wiederherzustellen, denn die Menschen haben eine kulturelle und wahrscheinlich auch allgemeine Vorliebe für ein geselliges Leben in kleinen, vertrauten Gruppen. Aber menschliche Gruppen versuchen, dies auch auf höheren Komplexitätsebenen zu tun, in einem ständigen Versuch, die extraktive Logik der Zivilisation zu mäßigen.“ (Katarani bezeichnet eine Verbindung von Commoning und Geschenkökonomie in stammesorientierten Kulturen als Modus A)

Commons durch die Zeiten - ein kurzer Abriss

In der ursprünglichsten Form der Commons in Jäger- und Sammler-Gemeinschaften, werden Nahrung und sonstige Ressourcen mit der ganzen Gemeinschaft geteilt - dies ist zumindest die vorherrschende Form des Austauschs.

Im Zuge der Agrar-Revolution geht es um das gemeinsame Bewirtschaften von Flächen.

Im Mittelalter entwickelt sich in Europa das Feudalsystem. Auch hier werden manche Felder aber noch von den Dorfbewohnern gemeinsam verwaltet.

Ab dem 16. Jahrhundert fanden, am stärksten in England, die Enclosures (auf deutsch Einhegungen) statt. Das heißt, dass Felder zur effizienteren Bewirtschaftung von den Besitzern zusammengelegt und umzäunt wurden.

Besonders im 19. Jahrhundert, mit dem Aufkommen der Industrialisierung, nahm diese Entwicklung immer stärker zu. Die landwirtschaftlichen Commons wurden dadurch weitgehend zerstört.

Im industriellen Kapitalismus, als die Arbeiter kaum Rechte hatten, und es auch um das bloße Überleben ging, entwickelte sich ein sozialer Commons Dieser bestand darin, dass sich die Arbeiter gegenseitig halfen und sich gegenseitig versicherten. Aus dieser Bewegung entstand dann der Sozialstaat. Der Staat übernahm also Aufgaben, die die Menschen zuvor füreinander geleistet hatten.

Man könnte daher sagen, dass im Kapitalismus die natürlichen Commons-Ressourcen privatisiert und die sozialen Commons verstaatlicht wurden.

In der Moderne waren sich viele Menschen der Bedeutung von Commons gar nicht mehr bewusst.

Mit dem Internet, dem World Wide Web und weiteren digitalen Techniken erschlossen sich dann neue Möglichkeiten. Mit Peer Production, Open Source Software, sowie den Creative Commons Lizenzen, enstand eine neue Inkarnation der Commons. Und damit ist die Entwicklung noch nicht abgeschlossen...

Warum Commons nicht in ein Links-Rechts-Schema passen

Mit seinem Streifzug durch die Geschichte zeigt Bauwens, wie vielfältig die Commons sein können, und warum ihnen in der heutigen Zeit eine starke Rolle zukommen sollte. Nebenbei ergibt sich für mich auch, dass sie jenseits von linker oder rechter Ideologie liegen. Hierzu eine kurze Zwischenbetrachtung von mir:

Weil es um kollektives Handeln geht, und auch wegen des Namens („hört sich an wie Kommunismus“, meinte meine Mutter), entsteht leicht der Eindruck, es handele sich um ein besonders linksgerichtetes Phänomen.

Eine gut eingespielte Fußballmannschaft agiert auch als Kollektiv. Der Verein verwaltet vielleicht ein Clubhaus. Wohl kaum jemand würde deswegen den Verein als links bezeichnen.

Freilich sind die Mitglieder heutiger Commons-Bewegungen vorwiegend „progressiv“, zuweilen auf eine rigide Weise. Bauwens hat damit schon eine leidvolle Erfahrung gemacht. Aber Commons als soziales System sind es nicht. Dafür spricht allein schon die Tatsache, dass es sie viel länger gibt als die politische Links-Rechts-Einteilung.

Eine starke Rolle für die Commons

Wie steht es um die Commons heute? Das werde ich in weiteren Artikeln noch versuchen zu beleuchten.

Mir kommt gerade der Gedanke in den Sinn: Sie wachsen überall.

Wie oben erwähnt, enstand mit zunehmenden digitalen Möglichkeiten eine neue Form der Commons. Leider gab es hier auch moderne Formen der Einhegungen. Github wurde von Microsoft übernommen, der Sardex (alternatives lokales Wirtschaftsnetzwerk) anscheinend von einer Investment-Firma. AWS (Amazon Web Services) verleibt sich gerne woanders entwickelte Projekte ein und bietet sie als zahlungspflichtige Services an. Krypto wurde -- weitgehend -- "gekapert".

Aber zum einen gibt es nicht nur den digital basierten Commons, es entsteht schon viel auf anderer Ebene, und zum anderen sind Commoners erfinderische Menschen...

Michel Bauwens hat in seinen Artikeln im Übrigen noch mehr zu den heutigen Commons zu sagen. Inbesondere beführwortet er das Kosmo-Lokale (Cosmo-Local). Was leicht ist (Wissen) wird geteilt, was Gewicht hat (etwa landwirtschaftliche und andere Produktion), wird an lokale Gegebenheiten angepasst und vor Ort bewerkstelligt.

Und das Zusammenspiel von Digitalem und Materiellem verspricht weitere Möglichkeiten.

In jedem Fall haben die Commons eine ausgleichende, regenerierende Kraft, die wir aufgrund der heutigen vielen Kriesen gar nicht ungenützt lassen können, ganz unabhängig von unserer sozialer Ebene - das gilt auch für die Superreichen.

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Bitcoin Magazine

Bitwise Debuts First Ever GameStop Covered Call ETF

Today, Bitwise Asset Management announced the launch of the Bitwise GME Option Income Strategy ETF (IGME), the first-ever covered call ETF centered around GameStop (GME). The fund arrives at a moment where GameStop recently made headlines for its $500 million Bitcoin treasury strategy.

GameStop is embracing bitcoin; we built an income-generating ETF designed to capture that hype and turn it into yield.

Introducing $IGME: The first option income ETF capitalizing on investor interest in @gamestop and their adoption of bitcoin as a treasury asset.

As the fourth… pic.twitter.com/EHaXX9PK7X

— Bitwise (@BitwiseInvest) June 10, 2025

Led by Bitwise’s Head of Alpha Strategies Jeff Park, IGME is the latest addition to Bitwise’s rapidly expanding suite of option income ETFs. The actively managed fund is designed to generate income through a covered call strategy while offering investors exposure to GameStop, a company that has transformed from mall retailer to a key player in the digital asset conversation. 

“IGME is the first covered call strategy built around GameStop, a stock whose historic volatility and growth potential make it a strong fit for this approach,” said Park. “With IGME, investors now have access to an option income ETF based on an equity that sits at the intersection of retail investor popularity, a traditional revenue-generating business, and digital asset adoption.”

GameStop recently disclosed that it holds 4,710 Bitcoin, worth over $500 million at the time of purchase, positioning it among the growing list of public companies making Bitcoin a core treasury component. As of March 31, 2025, over 79 public companies hold a collective $57 billion in Bitcoin—a 159% increase from the previous year, according to Bitcoin Asset Management.

IGME follows the launch of Bitwise’s other option income ETFs, including IMST (Strategy), ICOI (Coinbase), and IMRA (Marathon Digital Holdings). These ETFs aim to deliver monthly income through synthetic covered call strategies that leverage options rather than direct equity holdings. 

“At Bitwise, our mission is to help investors gain access to the full range of opportunities emerging in crypto,” said Bitwise CEO Hunter Horsley. “We’re excited to add IGME to our suite of option income ETFs to help investors capitalize on the volatility of companies in the space.”

IGME plans to announce its first monthly distribution on July 24 and carries an expense ratio of 0.98%.  

This post Bitwise Debuts First Ever GameStop Covered Call ETF first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

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Bitcoin Magazine

Stripe Acquires Startup Privy To Expand Bitcoin Strategy

Today, Stripe Inc. announced that it has acquired Bitcoin and crypto wallet infrastructure provider Privy, marking its second major digital asset focused acquisition following its $1.1 billion purchase of stablecoin firm Bridge earlier this year.

1/ Today, we're proud to announce that Stripe is acquiring Privy.

We couldn’t be more excited.

Privy will continue as an independent product – but now we’ll move faster, ship more, and serve you even better, so you can stay focused on your users. pic.twitter.com/8CHJqhqYy7

— Privy (@privy_io) June 11, 2025

Privy specializes in helping companies embed Bitcoin and crypto wallets directly into their apps and websites. For example, NFT marketplace OpenSea uses Privy to streamline purchases by automatically generating wallets for users. This removes the need for external wallet setups through services like MetaMask or Coinbase.

“When we started, wallets were powerful but inaccessible for all but the most technical,” said the Co-founder and CEO of Privy Henri Stern in a statement. “Developers had to send users off-platform to get started, breaking flows and killing user conversion. That friction fundamentally constrained what could be built in crypto.”

Privy, based in New York, was founded by Henri Stern and Asta Li in 2021. Li was previously a founding engineer at Aurora, while Stern worked as a research scientist at web3 firm Protocol Labs. The startup has raised just over $40 million from investors including Ribbit Capital, Definition, and Coinbase Ventures, and was last valued at $230 million in March, according to PitchBook.

“We started Privy a little over three years ago to make it easy for any developer to build better products on crypto rails,” stated their announcement. “Whether crypto is core to your app or simply a new layer of functionality, a good crypto product should just feel like a good product, period. By making crypto usable, we help make it useful for everyone.”

The acquisition follows Stripe’s earlier purchase of Bridge which helped accelerate interest in digital assets. Earlier this year, Stripe introduced stablecoin funded accounts designed to help merchants store funds and make international payments using Circle’s USDC and Bridge’s USDB. Similar to Bridge, Privy will continue operating as a standalone product.

Privy will power over 75 million accounts and support more than 1,000 developer teams, enabling billions in transaction volume, according to the announcement. Clients include Hyperliquid, Blackbird, Toku, and Farcaster, all using Bitcoin and crypto infrastructure to build real-world products in areas like trading, payments, payroll, and social applications.

“With a unified platform, connecting Privy’s wallets to the money movement capabilities in Stripe and Bridge, we’re enormously excited to enable a new generation of global, Internet-native financial services,” stated the co-founder and CEO of Stripe Patrick Collison.

This post Stripe Acquires Startup Privy To Expand Bitcoin Strategy first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

@ 69eea734:4ae31ae6

Vor ein paar Tagen stieß ich auf einen faszinierenden Artikel von Michel Bauwens, Mitbegründer der P2PFoundation, mit Links zu weiteren Texten – zum Beispiel über den Puls der Commons –, die ich ebenfalls äußerst interessant fand.

Der Artikel zeigt unter anderem gut, wie unterschiedlich Commons aussehen können, so dass ich ihn heute als Ausgangspunkt nehmen möchte, um ein paar Puzzle-Steine in mein entstehendes Bild der Commons einzufügen.

Das Grundmuster menschlichen Zusammenlebens?

Bauwens betrachtet die Commons aus historischer Sicht, wie sie sich in verschiedenen Zeiten unterschiedlich manifestieren, manchmal gar nahezu verschwinden und heute in wiederum veränderter Form neu entstehen – und warum sie noch weit stärker werden sollten.

Er legt zunächst dar, was die Commons sind und was nicht. (zum Beispiel nichts, was vom Staat verwaltet wird, wie ein öffentlicher Park) Ausschlaggebend ist, dass eine Ressource von ihren Herstellern oder Benutzern selbst betreut wird. Commons entstehen dabei durch Beziehungen. Sie sind etwas spezifisch Menschliches und eine Wahl, die „fast immer“ zur Verfügung steht, so Bauwens. Eine die Geschichte überdauernde menschliche Praxis.

Er nennt drei verschiedene geschichtlichen Entwicklungen:

• Eine lineare - Wie präsentiert sich der Commons über verschiedene, komplexer werdende, Phasen der Menschheitsgeschichte hinweg?
• Eine hin und her schwingendende: In der Geschichte einer Zivilisation werden die Commons in Zeiten von Überfluss -- und daraus resultierender Verschwendung uns steigender Ressourcen-Extraktion -- unterdrückt, konstitutieren sich aber dann als Gegenbewegung wieder neu.
• Eine stufenweise: Die heutigen, mit neuen Möglichkeiten ausgestatteten Formen der Commons könnten in der nächsten Phase unserer Zivilisation (oder nach unserer Zivilisation) eine entscheidende Rolle spielen.

Wenn man verschiedene Arten des Austausches betrachtet (Bauwens beruft sich hier auf Alan Fiske), kann man geschichtlich analysieren, welche dieser Muster zu verschiedenen Zeiten vorrangig waren (dies tat Kojin Karatani in The Structure of World History von 2014).

Die vier Muster sind:

• Gemeinschaftliche Beteiligung, Commons (die Gemeinschaft baut mir ein Haus, und ich helfe später bei einem anderen Hausbau mit; ein Beispiel aus neuerer Zeit ist die Entwicklung von Linux)
• Wechselseitiger Austausch (Geschenkökonomie – es wird eine etwa gleichwertige Leistung zu einem späteren Zeitpunkt erwartet)
• Hierarchisch bedingte Verteilung, wie im Feudalismus
• Marktwirtschaft: Es gibt ein allgemeines Zahlungsmittel mit einem bestimmten Wert.

Bauwens: „Entscheidend ist jedoch, dass die Menschheit ständig bestrebt ist, Modus A wiederherzustellen, denn die Menschen haben eine kulturelle und wahrscheinlich auch allgemeine Vorliebe für ein geselliges Leben in kleinen, vertrauten Gruppen. Aber menschliche Gruppen versuchen, dies auf jeweils höheren Komplexitätsebenen zu tun, in einem ständigen Versuch, die extraktive Logik der Zivilisation zu mäßigen.“ (Katarani bezeichnet eine Verbindung von Commoning und Geschenkökonomie in stammesorientierten Kulturen als Modus A)

Commons durch die Zeiten - ein kurzer Abriss

In der ursprünglichsten Form der Commons in Jäger- und Sammler-Gemeinschaften, werden Nahrung und sonstige Ressourcen mit der ganzen Gemeinschaft geteilt - dies ist zumindest die vorherrschende Form des Austauschs.

Im Zuge der Agrar-Revolution geht es um das gemeinsame Bewirtschaften von Flächen.

Im Mittelalter entwickelt sich in Europa das Feudalsystem. Auch hier werden manche Felder aber noch von den Dorfbewohnern gemeinsam verwaltet.

Ab dem 16. Jahrhundert fanden, am stärksten in England, die Enclosures (auf deutsch Einhegungen) statt. Das heißt, dass Felder zur effizienteren Bewirtschaftung von den Besitzern zusammengelegt und mit Zäunen versehen wurden.

Besonders im 19. Jahrhundert, mit dem Aufkommen der Industrialisierung, nahm diese Entwicklung immer stärker zu. Die landwirtschaftlichen Commons wurden dadurch weitgehend zerstört.

Im industriellen Kapitalismus, als die Arbeiter kaum Rechte hatten, und es auch um das bloße Überleben ging, entwickelte sich ein sozialer Commons Dieser bestand darin, dass sich die Arbeiter gegenseitig halfen und sich gegenseitig versicherten. Aus dieser Bewegung entstand dann der Sozialstaat. Der Staat übernahm also Aufgaben, die die Menschen zuvor füreinander geleistet hatten.

Man könnte daher sagen, dass im Kapitalismus die natürlichen Commons-Ressourcen privatisiert und die sozialen Commons verstaatlicht wurden.

In der Moderne waren sich viele Menschen der Bedeutung von Commons gar nicht mehr bewusst.

Mit dem Internet, dem World Wide Web und weiteren digitalen Techniken erschlossen sich dann neue Möglichkeiten. Mit Free and Open Source Software (FOSS) und Peer Production, sowie den Creative Commons Lizenzen, enstand eine neue Inkarnation der Commons. Und damit ist die Entwicklung noch nicht abgeschlossen...

Warum Commons nicht in ein Links-Rechts-Schema passen

Mit seinem Streifzug durch die Geschichte zeigt Bauwens, wie vielfältig die Commons sein können, und warum ihnen in der heutigen Zeit eine starke Rolle zukommen sollte. Nebenbei ergibt sich für mich auch, dass sie jenseits von linker oder rechter Ideologie liegen. Hierzu eine kurze Zwischenbetrachtung von mir:

Weil es um kollektives Handeln geht, und auch wegen des Namens („hört sich an wie Kommunismus“, meinte meine Mutter), entsteht leicht der Eindruck, es handele sich um ein besonders linksgerichtetes Phänomen.

Eine gut eingespielte Fußballmannschaft agiert auch als Kollektiv. Der Verein verwaltet vielleicht ein Clubhaus. Wohl kaum jemand würde deswegen den Verein als links bezeichnen.

Freilich sind die Mitglieder heutiger Commons-Bewegungen vorwiegend „progressiv“, zuweilen auf eine rigide Weise. Bauwens hat damit schon eine leidvolle Erfahrung gemacht. Aber Commons als soziales System sind es nicht. Dafür spricht allein schon die Tatsache, dass es sie viel länger gibt als die politische Links-Rechts-Einteilung.

Eine starke Rolle für die Commons

Wie steht es um die Commons heute? Das werde ich in weiteren Artikeln noch versuchen zu beleuchten.

Mir kommt gerade der Gedanke in den Sinn: Sie wachsen überall.

Wie oben erwähnt, enstand mit zunehmenden digitalen Möglichkeiten eine neue Form der Commons. Leider gab es hier auch moderne Formen der Einhegungen. Github wurde von Microsoft übernommen, der Sardex (alternatives lokales Wirtschaftsnetzwerk) anscheinend von einer Investment-Firma. AWS (Amazon Web Services) verleibt sich gerne woanders entwickelte Projekte ein und bietet sie als zahlungspflichtige Services an. Krypto wurde -- weitgehend -- "gekapert".

Aber zum einen gibt es nicht nur den digital basierten Commons, es entsteht schon viel auf anderer Ebene, und zum anderen sind Commoners erfinderische Menschen...

Michel Bauwens hat in seinen Artikeln im Übrigen noch mehr zu den heutigen Commons zu sagen. Inbesondere beführwortet er das Kosmo-Lokale (Cosmo-Local). Was leicht ist (Wissen) wird geteilt, was Gewicht hat (etwa landwirtschaftliche und andere Produktion), wird an lokale Gegebenheiten angepasst und vor Ort bewerkstelligt.

Und das Zusammenspiel von Digitalem und Materiellem verspricht weitere Möglichkeiten.

In jedem Fall haben die Commons eine ausgleichende, regenerierende Kraft, die wir aufgrund der heutigen vielen Kriesen gar nicht ungenützt lassen können, ganz unabhängig von unserer sozialer Ebene - das gilt auch für die Superreichen.

@ 005bc4de:ef11e1a2

After dropping off a relative at the airport, my wife and I found ourselves in an area that was rather new to us and we had the whole afternoon open. So, what to do? We stopped by the local Visitor Center for ideas. The usual shopping and dining routine isn't a big interest to us (though I like to eat!). No, it was time to get outdoors.

So, some local trail maps gave some ideas and off we went. Hiking is nice, and, even though you're huffing it out when you hike, it's relaxing to be outdoors. An aimless amble in nature is the reward itself. But, it's also sometimes nice to have a destination in mind, a goal to reach. The trails we chose had a few waterfalls and three were within our range. Waterfalls are great as destinations: you usually have to hike rugged trails to get to them, but when you do, there's a big payoff. Here's a teaser:

Along the walk to waterfall number one, an interesting shadow caught my eye on the trail. The shadow looked like a wreath on the ground in a nearly perfect circle. With the other leaves, the shadow looked like a large blooming flower. Overhead, the maple branch was filtering out the light just right to make the shadow. I thought it was neat.

Just below that shadow, we came to the stream and saw the falls through the trees.

Here's a closer view of the falls. From where I took the pic, there was a steady roar of water, of course, and, you could feel the cool mist and breeze like natural air conditioning...a multi-sensory experience and yet another payoff for the hike. The young man in the image decided to do a hand stand, because, that's what you do at the base of a waterfall, right?

A second falls was called Triple Falls. I bet you can guess why...

We went to a third falls which was low and wide, but really more of a swimming hole because the pool at the bottom was also wide and deep. It being a warm and sunny day, it was rather crowded with people cooling off. No photo because I didn't want to be the weird person pulling out a camera and taking pictures of people in their swimsuits!

The hike back was a nice, relaxing trail walk that looked like this:

Returning home, my wife agreed we made a good choice for the day.

.hostr

@ 2cde0e02:180a96b9

墨 sumi ink & hanko red paste;

https://stacker.news/items/1004461

@ 5627e59c:d484729e

Ik hou van de natuur en van verbinding maken\ Van diepgang en van mensen raken

Van creatief schrijven en programmeren\ Van speels bewegen en nieuwe dingen leren

Ik hou van leven en van dromen\ En van mensen zien\ Hun diepste wensen uit doen komen

@ 58537364:705b4b85

ในร่างกายที่มันมีสิ่งที่เรียกว่า… ระบบประสาท ทีนี้มีอะไรเข้ามากระทบร่างกาย คือกระทบระบบประสาท ปฏิกิริยามันก็เกิดขึ้น เป็นเหตุการณ์ อย่างใดอย่างหนึ่งขึ้น

เหตุการณ์นั้นแหละสำคัญ ถ้าให้เกิดความรู้สึกที่ถูกใจมันจะเป็นบวก เหตุการณ์นั้นไม่รู้สึกถูกใจแก่จิต มันก็จะเป็นลบ #ตัวกูเพิ่งเกิดเมื่อมีการกระทบแล้ว

ถ้าเหตุการณ์ที่เป็นบวกเกิดขึ้น ตัวกูบวกก็เกิดขึ้น เหตุการณ์ที่เป็นลบเกิดขึ้น ตัวกูที่เป็นลบเกิดขึ้น #ตัวกูนี้เกิดหลังเหตุการณ์ ขอให้เข้าใจดีๆ ไม่ใช่เกิดอยู่ก่อน

ตัวกูคลอดออกมาจาก situation ที่มากระทบระบบประสาท เช่นว่า… ไม่ได้กินอาหาร ขาดอาหาร มันหิว ความหิวเกิดขึ้นแก่ระบบประสาท ต่อมาจึงเกิด concept ว่า กูหิว, มีการกินแล้วจึงเกิด concept ว่า กูกิน

ถ้ามีอาการอร่อยแก่ลิ้น มันจึงเกิด concept ว่า… กูอร่อย หรือ มาทีหลังเหตุการณ์เสมอ จะถือว่าเป็น product ของเหตุการณ์นั้น ๆ ก็ได้

นี่คือความที่ไม่มีตัวจริง มิใช่ของจริง ของสิ่งที่เรียกว่าตัวกู #ขอให้รู้จักว่าตัวกูนี้มันเป็นมายาถึงขนาดนี้

ฟังดูการพูดอย่างนี้ มันเป็น logic แต่ความจริงของธรรมชาติมันเป็นอย่างนั้น ถือตามกฎ logic ธรรมดาสามัญ ที่พูดกันอยู่นี้ไม่ได้ ต้องถือตามความเป็นจริงที่ว่า มันเป็นอยู่อย่างไร

จิตก็เป็นธาตุชนิดหนึ่ง สิ่งแวดล้อมต่างๆ ที่เป็นธาตุชนิดหนึ่ง พอมาถึงกันเข้า ก็เกิดปฏิกิริยาออกมาอย่างนั้นอย่างนี้ ความรู้สึกที่เรียกว่า… #จิตคิดนึกได้นี้_ก็เป็นปฏิกิริยาที่เกิดขึ้นเท่านั้น แล้วความรู้สึกว่าตัวกู ตัวนี้ก็เป็นเพียงปฏิกิริยาที่เกิดขึ้นเท่านั้น.

มันฟังยากสำหรับท่านทั้งหลายที่ว่า ผู้กระทำนั้นเกิดทีหลังการกระทำ มันผิด logic อย่างนี้

แต่ความจริงเป็นอย่างนั้น self หรือ ego ผู้กระทำจะเกิดทีหลังการกระทำ เป็นปฏิกิริยาของการกระทำ

ความคิดอย่าง ตรรกะ หรืออย่างปรัชญา เอามาใช้กับสิ่งนี้ไม่ได้ ขอยืนยันไว้อย่างนี้

ถ้าท่านยังไม่เชื่อ ท่านก็ไปคิดดูเรื่อย ๆ ไปเถอะ ท่านจะพบว่ามันไม่เป็นอย่างกฎเกณฑ์ทางตรรกะหรือทางปรัชญา ที่เรามีๆ กันอยู่

ผู้กระทำเป็นเพียง concept ไม่ใช่ตัวจริง ส่วนการกระทำมันเป็นเหตุการณ์ของธรรมชาติ พอเข้ามาถึงจิตแล้ว ก็เกิดความคิด ความเชื่อ ความยึดว่าตัวกู

ตัวกูซึ่งเป็นเพียง concept ไม่ใช่ของจริง

พุทธทาสภิกขุ

อตัมมยตาประทีป

ชีวิตใหม่และหนทางเข้าถึงชีวิตใหม่

หน้า_๒๙๕-๒๙๖

@ 6be5cc06:5259daf0

Introdução

O princípio do sola scriptura, pedra angular da teologia protestante desde a Reforma do século XVI, estabelece que apenas a Escritura constitui a autoridade final e suprema em questões de fé e prática cristã. Este princípio, formulado inicialmente por Martinho Lutero e sistematizado pelos reformadores subsequentes, pretende oferecer um fundamento epistemológico sólido para a teologia, livre das supostas corrupções da tradição eclesiástica.

Contudo, uma análise rigorosa revela que o sola scriptura incorre em contradições lógicas fundamentais que comprometem sua viabilidade como sistema epistemológico coerente. Este artigo examina essas contradições através de três perspectivas complementares: filosófica, exegética e histórica.

A Contradição Performativa Fundamental

O Problema da Autorreferência

O sola scriptura enfrenta um dilema epistemológico insuperável: afirma que apenas a Escritura possui autoridade final em matéria de fé, mas essa própria regra não é explicitamente ensinada na Escritura. Trata-se de uma contradição performativa clássica, onde o enunciado viola suas próprias condições de possibilidade.

Esta situação configura uma falácia de petitio principii (círculo vicioso), pois exige que se aceite uma doutrina que não pode ser sustentada pelas premissas do próprio sistema. Para estabelecer o sola scriptura, seria necessário recorrer a uma autoridade externa à Escritura – precisamente aquilo que o princípio pretende rejeitar.

Fundacionalismo Mal Estruturado

Do ponto de vista epistemológico, o sola scriptura apresenta-se como um fundacionalismo defeituoso. Pretende funcionar como axioma supremo e auto-evidente, mas falha ao não fornecer a base textual que sua própria metodologia exige. Um verdadeiro fundacionalismo escriturístico deveria ser capaz de demonstrar sua validade através de uma prova explícita nas próprias Escrituras.

O Testemunho Contrário das Escrituras

Limitações do Registro Escrito

A própria Escritura reconhece as limitações do registro textual. João 21:25 declara explicitamente: "Jesus fez também muitas outras coisas. Se cada uma delas fosse escrita, penso que nem mesmo no mundo inteiro haveria espaço suficiente para os livros que seriam escritos."

Este versículo é particularmente problemático para o sola scriptura, pois reconhece que nem todos os ensinamentos de Cristo foram preservados por escrito. Como pode a Escritura ser suficiente se ela própria admite sua incompletude?

A Valorização da Tradição Oral

Paulo, em 2 Tessalonicenses 2:15, oferece uma instrução que contradiz frontalmente o sola scriptura: "Assim, pois, irmãos, ficai firmes e conservai os ensinamentos que de nós aprendestes, seja por palavras, seja por carta nossa."

O apóstolo valoriza inequivocamente tanto a tradição oral ("por palavras") quanto a escrita ("por carta"), estabelecendo um modelo de autoridade dual que o protestantismo posterior rejeitaria.

A Necessidade de Autoridade Interpretativa

A narrativa do eunuco etíope em Atos 8:30-31 demonstra a inadequação da Escritura isolada como autoridade final. Quando Filipe pergunta se o eunuco entende o que lê, a resposta é reveladora: "Como poderei entender, se alguém não me ensinar?"

Este episódio ilustra que a mera posse do texto bíblico não garante compreensão adequada. É necessária uma autoridade interpretativa externa – no caso, representada por Filipe, que age com autoridade apostólica.

A Complexidade Hermenêutica

Pedro, em sua segunda epístola (3:16-17), reconhece a dificuldade interpretativa inerente às Escrituras: "Suas cartas contêm algumas coisas difíceis de entender, as quais os ignorantes e instáveis torcem, como também o fazem com as demais Escrituras, para a própria destruição deles."

Esta passagem não apenas reconhece a complexidade hermenêutica dos textos sagrados, mas também alerta sobre os perigos da interpretação inadequada. Implicitamente, sugere a necessidade de uma autoridade interpretativa confiável para evitar distorções doutrinárias.

O Paradoxo Histórico da Canonização

A Dependência da Tradição Eclesiástica

Um dos argumentos mais devastadores contra o sola scriptura emerge da própria história da formação do cânon bíblico. Os concílios de Hipona (393 d.C.) e Cartago (397 d.C.) foram responsáveis pela definição oficial do cânon das Escrituras tal como conhecemos hoje.

Este fato histórico cria um paradoxo insuperável: aceitar a Bíblia como autoridade única requer aceitar a autoridade da tradição eclesiástica que a definiu. O próprio cânon bíblico é produto da tradição apostólica e da deliberação conciliar, não de autodefinição escriturística.

A Circularidade da Autopistia

Tentativas protestantes de resolver este dilema através do conceito de "autopistia" – a suposta capacidade das Escrituras de se auto-autenticar – apenas aprofundam o problema circular. Como determinar que as Escrituras possuem esta propriedade sem recorrer a critérios externos? A própria doutrina da autopistia não é explicitamente ensinada na Escritura.

Implicações Teológicas e Epistemológicas

A Fragmentação Interpretativa

A história do protestantismo oferece evidência empírica das consequências práticas do sola scriptura. A multiplicação de denominações e interpretações divergentes sugere que o princípio, longe de fornecer clareza doutrinária, pode na verdade contribuir para a fragmentação teológica.

Se a Escritura fosse verdadeiramente suficiente e auto-interpretativa, seria razoável esperar maior convergência hermenêutica entre aqueles que aderem ao sola scriptura. A realidade histórica sugere o contrário.

A Alternativa Católica e Ortodoxa

As tradições católica e ortodoxa, embora enfrentando suas próprias tensões epistemológicas, mantêm pelo menos coerência interna ao reconhecer explicitamente múltiplas fontes complementares de autoridade: Escritura, Tradição e Magistério (no caso católico) ou Escritura e Tradição (no caso ortodoxo).

Estas posições evitam a contradição performativa do sola scriptura ao não reivindicar que sua própria metodologia epistemológica seja derivada exclusivamente da Escritura.

Conclusão

A análise crítica do sola scriptura revela contradições estruturais que comprometem fundamentalmente sua viabilidade como princípio epistemológico. O princípio incorre em contradição performativa ao estabelecer uma regra que não pode ser derivada de suas próprias premissas, configura um fundacionalismo mal estruturado ao carecer de base textual explícita, e enfrenta o testemunho contrário da própria Escritura, que reconhece suas limitações e a necessidade de autoridades interpretativas externas.

O paradoxo histórico da canonização – onde o próprio cânon bíblico depende da autoridade tradicional que o sola scriptura pretende rejeitar – representa talvez o golpe mais decisivo contra o princípio protestante.

Isso não implica necessariamente a falsidade do protestantismo como sistema teológico, mas sugere que seus fundamentos epistemológicos requerem reformulação substancial. Uma teologia protestante intelectualmente honesta precisaria reconhecer as limitações do sola scriptura e desenvolver uma epistemologia mais nuançada que leve em conta a complexidade das fontes de autoridade religiosa.

A busca pela verdade teológica, independentemente de compromissos confessionais, exige o reconhecimento rigoroso das limitações e contradições inerentes aos nossos sistemas epistemológicos. No caso do sola scriptura, essa honestidade intelectual revela um princípio que, por mais central que seja para a identidade protestante, não pode sustentar o peso epistemológico que tradicionalmente lhe foi atribuído.

@ 472f440f:5669301e

Marty's Bent

via me

I had a completely different newsletter partially written earlier tonight about whether or not "this cycle is different" when this nagging thought entered my head. So I'm going to write about this and maybe I'll write about the dynamics of this cycle compared to past cycles tomorrow.

A couple of headlines shot across my desk earlier tonight in relation to the potential escalation of kinetic warfare in the Middle East. Apparently the U.S. Embassy in Iraq was sent a warning and evacuation procedures were initiated. Not too long after, the world was made aware that the United States and Israel are contemplating an attack on Iran due to the "fact" that Iran may be close to producing nuclear weapins. The initial monkey brain reaction that I had to these two headlines was, "Oh shit, here we go again. We're going to do something stupid." My second reaction was, "Oh shit, here we go again, I've seen these two exact headlines many times over the years and they've proven to be lackluster if you're a doomer or blood thirsty war monger." Nothing ever happens.

As I venture into my mid-30s and reflect on a life filled with these types of headlines and my personal reactions to these headlines, I'm finally becoming attuned to the fact that the monkey brain reactions aren't very productive at the end of the day. Who knows exactly what's going to happen in Iraq or Iran and whether or not kinetic warfare escalates and materializes from here? Even though I'm a "blue-blooded taxpaying American citizen" who is passively and unwillingly contributing to the war machine and the media industrial complex, there's really nothing I can do about it.

The only thing I can do is focus on what is in front of me. What I have control of. And attempt to leverage what I have control of to make my life and the life of my family as good as humanly possible. Ignoring the external and turning inward often produces incredible results. Instead of worrying about what the media wants you to believe at any given point in time, you simply look away from your computer screen, survey the physical space which you're operating in and determine what you have, what you need and how you can get what you need. This is a much more productive way to spend your time.

This is what I want to touch on right now. There's never been a better time in human history to be productive despite what the algorithm on X or the mainstream media will lead you to believe. Things aren't as great as they could be, but they're also not as bad as you're being led to believe. We live in the Digital Age and the Digital Age provides incredible resources that you can leverage to make YOUR life better.

Social media allows you to create a platform without spending any money. AI allows you to build tools that are beneficial to yourself and others with very little money. And bitcoin exists to provide you with the best form of money that you can save in with the knowledge that your relative ownership of the overall supply isn't going to change. No matter what happens in the external world.

If you can combine these three things to make your life better and - by extension - potentially make the lives of many others better, you're going to be well off in the long run. Combining these three things isn't going to result in immediate gratification, but if you put forth a concerted effort, spend the time, have some semblance of patience, and stick with it, I truly believe that you will benefit massively in the long run. Without trying to sound like a blowhard, I truly believe that this is why I feel relatively calm (despite my monkey brain reactions to the headlines of the day) at this current point in time.

We've entered the era of insane leaps in productivity and digital hard money that cannot be corrupted. The biggest mistake you can make in your life right now is overlooking the confluence of these two things. With an internet connection, an idea, some savvy, and hard work you can materially change your life. Create something that levels up your knowledge, that enables you to get a good job in the real world, or to create a company of your own. Bring your talents to the market, exchange them for money, and then funnel that money into bitcoin (if you're not being paid in it already). We may be at the beginning of a transition from the high velocity trash economy to the high leverage agency economy run on sound money and applied creativity.

These concepts are what you should be focusing most of your time and attention to today and in the years ahead. Don't get distracted by the algorithm, the 30-second video clips, the headlines filled with doom, and the topics of the 24 hour news cycle. I'll admit, I often succumb to them myself. But, as I get older and develop a form of pattern recognition that can only be attained by being on this planet for a certain period of time, it is becoming very clear that those things are not worth your attention.

Living by the heuristic that "nothing ever happens" is a pretty safe bet. Funnily enough, it's incredibly ironic that you're led to believe that something is happening every single day, and yet nothing ever happens. By getting believing that something happens every day you are taking your attention away from doing things that happen to make your life better.

Tune out the noise. Put on the blinders. Take advantage of the incredible opportunities that lie before you. If enough of you - and many others who do not read this newsletter - do this, I truly believe we'll wake up to find that the world we live in is a much better place.

Nothing ever happens, so make something happen.

Intelligence Officials Are Quietly Becoming Bitcoin Believers

Ken Egan, former CIA Deputy Chief of Cyber Operations, revealed a surprising truth on TFTC: the intelligence community harbors numerous Bitcoin advocates. Egan explained that intelligence professionals uniquely understand how governments weaponize financial systems through sanctions and account freezing. Having wielded these tools themselves, they recognize the need for personal financial sovereignty. He shared compelling anecdotes of discovering colleagues with "We are all Satoshi" stickers and a European chief of station paying for dinner with a BlockFi card to earn Bitcoin rewards.

"I think there are a lot of Bitcoiners, not just at CIA, but across the whole national security establishment... they're in it for the exact same reasons everybody else is." - Ken Egan

The Canadian trucker protests served as a pivotal moment, Egan noted. Watching Western governments freeze citizens' bank accounts for political dissent struck a nerve among intelligence professionals who previously viewed financial weaponization as a tool reserved for foreign adversaries. This awakening has created unlikely allies within institutions many Bitcoiners distrust.

Check out the full podcast here for more on Bitcoin's national security implications, privacy tech prosecutions, and legislative priorities.

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Headlines of the Day

Stripe Buys Crypto Wallet Privy After Bridge Deal - via X

Trump Calls CPI Data "Great" Urges Full Point Fed Cut - via X

Bitcoin Hashrate Reaches New All-Time High - via X

Get our new STACK SATS hat - via tftcmerch.io

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Read the latest report from Unchained and TechDev, analyzing how global M2 liquidity and the copper/gold ratio—two historically reliable macro indicators—are aligning once again to signal that a new bitcoin bull market may soon begin.

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

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Final thought...

Life is good.

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Autor: Anna Nagel. (Bild: Lukas Karl). Dieser Beitrag wurde mit dem Pareto-Client geschrieben. Sie finden alle Texte der Friedenstaube und weitere Texte zum Thema Frieden hier. Die neuesten Pareto-Artikel finden Sie auch in unserem Telegram-Kanal.

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Die neuesten Artikel der Friedenstaube gibt es jetzt auch im eigenen Friedenstaube-Telegram-Kanal.

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Teil 3 ist der letzte Teil des Essays. Hier geht es zu Teil 1 und Teil 2.

«Der große Jammer mit den Menschen ist, dass sie so genau wissen, was man ihnen schuldet, und so wenig Empfindungen dafür haben, was sie anderen schulden.»

– Franz von Sales

In den ersten beiden Teilen der Reihe «Mitgefühl und Vergebung» ging es darum, Wege zu finden, mit unserem Gegenüber, unserem «Widersacher» oder sogar der Menschheit an sich, weich zu werden, Verständnis zu finden, uns selbst vom Groll zu befreien und Frieden zu schließen. Doch wie ist das eigentlich andersherum?

Denn was bei all den Gedanken über das Verzeihen und Mitfühlen nicht fehlen darf, ist, sich selbst zu vergeben und auch, sich selbst zu entschuldigen. Häufig wissen wir zwar schnell, auf wen wir noch wütend sind, welchen Schmerz wir noch nicht loslassen konnten, – obwohl natürlich auch einige Wunden tiefer verschüttet sind – gleichwohl kann es noch etwas undurchsichtiger werden, wenn wir uns selbst einmal ehrlich fragen, wen wir verletzt haben, wem wir etwas schuldig geblieben sind. Denn das ist die Kehrseite der Medaille: Ich glaube, dass niemand von uns komplett ohne Schuld ist.

Zwar ist es einfacher, im Außen Verantwortliche für alles Mögliche zu finden, wie zum Beispiel das Unrecht in der Welt oder unsere eigenen verletzten Gefühle, da es häufig auch offensichtlicher ist, es lenkt uns aber auch gerne von den eigenen Schattenanteilen ab. Häufig werden wir sogar leider erst mit unseren eigenen Schuldgefühlen konfrontiert, wenn es zu spät ist; beispielsweise wenn es um Trennungen geht – oder wenn jemand Geliebtes stirbt. Erst dann zeigen sich bei den meisten Momente und Gefühle des Bereuens, des Bedauerns, des Wieder-gut-machen-Wollens.

Sehr viele Menschen, die eine Nahtoderfahrung erlebt haben, berichten, dass, als ihnen ihr eigenes Leben im Panoramablick gezeigt wurde, sie alle Situationen aus Sicht der Menschen fühlten, mit denen sie interagiert hatten. Also dass sie spätestens da merkten, in welchen Situationen ihre Worte und ihr Verhalten andere verletzten.

Andererseits gibt es auch Menschen, die von Schuldgefühlen förmlich zerfressen werden. Sie nagen an ihnen und ihrem Gewissen und manche werten sich selbst zutiefst ab, bis hin zum Selbsthass. Hier stellt sich die Frage, wie wir uns selbst helfen können, uns selbst ent-schuldigen können. Oder kann das nur derjenige, demgegenüber wir Schuld empfinden?

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Es tut mir leid

\ Wo wir können, sollten wir uns selbstverständlich entschuldigen und um Vergebung bitten. Nicht nur für uns selbst, sondern auch für den anderen. Wer das schon einmal ehrlich getan hat, weiß, wie schwer das sein kann und wem wiederum schon einmal eine wirklich ernstgemeinte Entschuldigung entgegen gebracht wurde, weiß, wie heilsam und tief berührend sie sein kann.

Viel zu häufig werden Entschuldigungen nämlich nicht ganz so ernst gemeint; wir werfen mit Wortschnipseln um uns, ein kurzes «Sorry» nuscheln wir in den Hemdkragen, drehen uns vielleicht noch dabei weg oder nutzen sie als Floskel, weil es sich «so gehört». Ebenso alltäglich finden wir das berühmte: «Tut mir ja leid, aaaber…» plus Rechtfertigung und möglicherweise sogar Gegenvorwürfen.

Das meine ich nicht, ich meine das ehrliche Entschuldigen. Das reine Schuldeingeständnis, die hundertprozentige Verantwortungsübernahme für das eigene Verhalten – wie oft erlebst du diese? Von anderen sowie von dir selbst. Es gehört nämlich schon eine ganze Portion Mut und innere Größe dazu, sich seiner Fehltritte bewusst zu sein, diese zuzugeben – und zwar vor sich selbst und zudem vor demjenigen, dem man auf den Fuß getreten ist –, ihm tief in die Augen zu schauen und zu sagen: «Es tut mir leid.» Ohne Erwartung, ohne Rechtfertigung. Im tiefen Einverständnis mit allen Konsequenzen.

Es braucht deshalb so viel Mut, weil es schmerzhaft und beängstigend sein kann. Weil wir uns dem anderen hingeben und unsere «Waffen» niederlegen. Es kann sein, dass die andere Person die Entschuldigung nicht annimmt, oder unser Eingeständnis sogar gegen uns verwendet, aber Größe zu haben, bedeutet auch, dies zu akzeptieren und sich dem ungewissen Ausgang zu stellen, die Machtkämpfe sein zu lassen und dem anderen das Zepter in die Hand zu geben.

Eine ehrliche Entschuldigung kommt von Herzen, nämlich, wenn wir gespürt haben, was wir dem anderen angetan oder zugemutet haben. Sie braucht wahres Mitfühlen und Erkennen sowie die Bereitschaft, das eigene Ego beiseite zu schieben. Dies kann zu Frieden führen – je nachdem, was jeder der Beteiligten für sich daraus macht und was vorgefallen war selbstverständlich –, aber derjenige, der sich entwaffnet, wird das Schlachtfeld auch verlassen und sich sich selbst und seinem Verhalten widmen, um in Zukunft von vornherein mitfühlender und achtsamer sein zu können.

Denn wenn ich lerne, mein Gegenüber zu spüren und mit ihm in Verbindung zu gehen, spüre ich am eigenen Leib die Verletzungen und wenn ich bereit bin, die Verantwortung zu übernehmen, gelange ich zu dem Gefühl des Bedauerns, beispielsweise, wenn ich die Konsequenz einer Trennung, tragen muss. Dadurch entsteht in mir ein intrinsisches Bedürfnis, in Zukunft liebevoller und achtsamer mit meinen Mitmenschen umzugehen.

„Es scheint wirklich den Menschen nur eine Hoffnung zu geben: Zwar nicht die Welt und die anderen, aber wenigstens sich selbst einigermaßen ändern und bessern zu können; und auf denen, die das tun, beruht im geheimen das Heil der Welt.“

―Hermann Hesse

Eine wahre Entschuldigung impliziert also die empathische Verbindung mit dem anderen und führt somit zu Selbsterkenntnis, wodurch in der Regel eine persönliche Aufarbeitung und Veränderung des eigenen Verhaltens folgt, während Vorwürfe nach außen hin üblicherweise darauf abzielen, den oder die anderen ändern zu wollen.

Sich selbst vergeben

Was aber passiert, wenn der andere uns nicht vergeben möchte, oder wir denjenigen, demgegenüber wir uns schuldig fühlen nicht erreichen können oder auch, wenn wir nicht einmal wissen, weswegen oder ob, wir uns schuldig fühlen, weil die Gefühle oder Erinnerungen zu weit im Unterbewusstsein vergraben wurden? 

In einer sehr fragilen Phase während meines Heilungsprozesses wandte ich mich an «Gott», an das Universum, und fragte verzweifelt: «Vergibst du mir?», und die Antwort war: «Vergibst du dir denn selbst?».

Was für eine Antwort. Was für eine Frage ja viel mehr - und doch auch gleichzeitig so viel Antwort. Warum braucht es einen anderen, um mir meine Schuldgefühle zu nehmen und vor allem, wie kann das gehen? Es sind meine Gefühle, mein Körper, meine Seele, mein Gewissen und wenn ein Anteil in mir sich plagt, ist es vielleicht doch einzig auch meine Aufgabe, ihn zu heilen und zu befreien? Aber kann ich das? Habe ich denn diese Macht? Darf ich das? Oder muss ich es vielleicht sogar? Was wäre, wenn das Universum «Ja» gesagt hätte? Hätte es vielleicht gar nichts an meinen Gefühlen geändert, weil das, was ich selbst glaube und das, was ich selbst von mir halte, vielleicht schwerer wiegt, als das, was ein anderer sagt? Hätte ich ihm überhaupt geglaubt? Letztlich war es ja «nur» meine eigene innere Stimme, die ich vernahm. 

Aber ja, ich erkannte, dass, wenn ich die Macht habe, mich zu verurteilen und zu strafen, wohl auch nur ich die Macht habe, gnädig und versöhnlich mit mir zu sein. Und so machte ich mich auf den Weg, herauszufinden, wie ich selbst meine Schuldgefühle auflösen konnte und werde versuchen, im Folgenden die Essenzen daraus zu vermitteln, in der Hoffnung, dass vielleicht jemand etwas daraus für sich mitnehmen kann.

Mir ging es fast mein Leben lang so, dass mir bei jeder kleinsten Kleinigkeit Adrenalin samt Wut auf mich selbst durch den Körper schossen. Nahezu permanent war mein innerer Kritiker parat, mich innerlich niederzumachen für: Einfach alles. 

Eines Tages saß ich mit mir da und forschte nach den Ursachen. Ich fragte mich, woher all dieser Selbsthass kam und ich dachte, dass es doch eigentlich nur Sinn ergibt, sich selbst so sehr zu verabscheuen, wenn man der absolut böseste Mensch der Welt sei. Wie viel Schuld und Missetaten müsste ein anderer begehen, um ihm gegenüber auch nur annähernd so unversöhnlich zu sein, wie mir selbst gegenüber? Und mir wurde klar, dass es unter der Wut auf mich selbst unter anderem um Schuld ging.

Ich wusste nicht recht, womit ich mich so unsagbar schuldig gemacht hatte, aber eine vorsichtige Stimme in mir schlug vor, dass ich es doch eventuell im Laufe all der Jahre abgebüßt haben könnte, dass ich mich doch genug gegeißelt haben könnte, – oder? Eigentlich empfand ich sogar ein kleines bisschen Mitgefühl mit mir selbst, mit meinem inneren Kind, meiner kleinen Anna. Was habe ich ihr, was habe ich mir eigentlich damit angetan? Das tat mir dann schon irgendwie leid. Und ich bat sie – und mich – um Verzeihung.

Intuitiv sprach ich die Worte: «Es tut mir leid!» mehrfach hintereinander laut aus, und mit jedem Mal tat es zunächst mehr weh. Erstaunlicherweise zeigten sich mit der Zeit von ganz allein innere Bilder und Situationen aus der Vergangenheit, die mir leid taten – sowohl mich selbst betreffend, als auch andere Situationen und Personen –, was zu Mitgefühl, Bedauern und auch Scham- und Schuldgefühlen führte. Wieder einige Zeit später verschwanden nach und nach die belastenden Emotionen und Bilder und ich wiederholte meine Worte so lange, bis es nicht mehr weh tat.

Daraufhin sprach ich laut aus: «Es ist ok, ich verzeihe dir», und auch das so oft, bis keine Bilder mehr kamen und bis es nicht mehr weh tat.

Diese Perspektivwechsel, also sowohl der Empfänger als auch der Sender zu sein, lernte ich zuvor in einer anderen Situation, die ich in diesem Video näher beschreibe.

Als nächstes sagte ich laut: «Mir wird vergeben», ebenfalls mehrmals und bis alle Tränen des Unglaubens, der Dankbarkeit und Erleichterung, getrocknet waren, und ich etwas Sonderbares empfand: es war warm und weich in mir, irgendwie entspannt. Ich fühlte mich wohl. Und mit einem kurzen Schreck identifizierte ich dieses Gefühl als (Selbst-)Liebe. Huch! Ich !? Ja, das war ich. Da war also dieser Frieden, diese Liebe in mir, für mich. Und auch für die Welt und die Menschheit, bei der ich mich ebenfalls entschuldigte – und ihnen verzieh, weil zumindest ein Anteil in mir schon immer damit haderte, Mensch zu sein. Aber seit dem Tag freunde ich mich zunehmend damit an und ich entdecke immer schönere Seiten am Leben –  und auch an mir selbst.

Es macht einen unbeschreiblichen Unterschied, wie sich die Welt im eigenen Körper anfühlt und wie ich sie durch meine eigenen Augen sehe – je nachdem, wie meine Einstellung zu ihr und vor allem auch zu mir selbst ist. 

Gibt es Schuld denn überhaupt? 

Einige Leute sagen, Schuld gibt es überhaupt nicht. Und auch, wenn ich hier so ausführlich darüber schreibe, denke ich das ebenfalls. Wie passt das zusammen und wie kann diese Perspektive helfen? 

Genauer gesagt, ist meine Antwort auf die Schuldfrage: Ja und Nein. Denn auf der einen Seite gibt es Schuld definitiv, in diesem Gefühl kenne ich mich ja sehr gut aus und auch unser Rechtssystem arbeitet mit Schuld. Andererseits, wenn ich mir die Natur ansehe – und die Menschheit und ihre Gedankenkonstrukte, Vereinbarungen und Gefühle ausblende –, komme ich persönlich zu dem Ergebnis, dass es keine natürliche Schuld gibt. Sondern, dass Schuld ein menschliches Konzept ist und außerhalb dessen, das heißt, wie gesagt in der Natur, aber möglicherweise auch auf Seelenebene oder erst recht einem bedingungslos liebenden «Gott» oder Universum gegenüber, irrelevant wird. 

Diese Grundlage ist bedeutend für die folgende Situation, denn der eine Teil des Heilungsprozesses besteht darin, die alten Gefühle zu durchfühlen, um sie loszulassen, der andere beschäftigt sich mit den dahinterstehenden Glaubenssätzen.

Eingangs erwähnte ich die Situation, dass einem im Trauerprozess um eine geliebte Person Schuldgefühle begegnen können – so auch mir. Die Gefühle und Gedanken dazu waren derart quälend, dass es sich höchstwahrscheinlich nur jemand ausmalen kann, der bereits ähnliches durchleben musste. Denn das Gefühl, Schuld am Tod der geliebten Person zu sein, zerreißt einen innerlich in Stücke. Und obwohl ich mir auf anderer Ebene bewusst war, dass ich in Wirklichkeit natürlich nicht Schuld daran war, da ich ja keinen Mord begangen und auch nicht seine Krankheit verursacht habe, kamen mir immer wieder Bilder vor Augen, die mir Momente zeigten, in denen ich vielleicht doch noch etwas mehr oder weniger hätte sagen oder tun können, um den Krankheitsverlauf möglicherweise doch noch irgendwie zu beeinflussen. 

Auch mein Glaube daran, dass eine Seele geht, wenn sie bereit dafür ist und nur sie selbst weiß, wann ihre Zeit gekommen ist und warum, konnte mir die Bilder und Gefühle nicht nehmen. Es fühlte sich an, als wäre etwas Zerstörerisches in mir, das an mir zerrte, das mich von innen her auffraß und möglicherweise kein Teil meiner selbst zu sein schien, bis ich mich eines Tages schluchzend vor den Spiegel stellte, mich zwang, mir in die Augen zu sehen und laut zu mir zu sagen: «Ich glaube nicht an Schuld! Schuld ist ein Konzept der Menschen. In der Natur gibt es keine Schuld. Ich glaube nicht an Schuld. Schuld ist ein Konzept der Menschen, …» und so weiter.

Es kostete wahnsinnig viel Kraft, diese Sätze auszusprechen, weil die Energie der Schuld, in der mein Körper feststeckte, genau gegenteilig schwang und der größte Teil in mir in dem Moment davon eingenommen war. Ich musste also enorme Kraft aufbringen, diese Worte auszusprechen, um diesen kleinen Funken der Liebe in mir durchzusetzen und es war, als würde ich gegen einen Orkan angehen. Aber auch hier wurde mit jeder Wiederholung der Schmerz der Schuld und des Widerspruches zwischen diesen beiden Anteilen zunächst erträglicher und dann immer weniger, bis ich irgendwann ruhig dort stehen und die Sätze aussprechen konnte. 

Dies ist sicherlich eine besondere Situation in Bezug auf «Mitgefühl und Vergebung». Vielleicht findet sich aber dennoch jemand in dieser oder einer ähnlichen Situation wieder, in der die alten Glaubenssätze im Gegensatz zur Entwicklung im Heilungsprozess stehen oder jemand ist sogar ähnlich strukturiert – und daher anfällig für Schuldgefühle – wie ich. Daher entschied ich mich dafür, den Absatz doch noch mit aufzunehmen.

Lieben heißt Lernen – Fazit

«Das Leben eines jeden Menschen ist ein Weg zum eigenen Ich, der Versuch eines Weges, der Entwurf eines Weges.» – Hermann Hesse

In gleicher Weise, wie ich lerne, mich zu fühlen und mir selbst zu vergeben, erfahre ich, dass ich auch aufhöre, andere für meine Gefühle verantwortlich zu machen und, dass es mir auch automatisch sehr viel leichter fällt, mich in andere hineinzuversetzen, ihnen versöhnlich zu begegnen und ihnen ihr Leben, ihr Verhalten und ihre Lernaufgaben zuzugestehen.

Interessanterweise entdeckte ich auch, dass, in den meisten Fällen, in denen sich noch Ärger auf andere Personen offenbarte, ich, bei näherem Hinsehen, eigentlich mir selbst noch nicht vergeben hatte. Wenn Gedanken kamen, wie: «Wie konntest du dich mir gegenüber so ungerecht und respektlos verhalten? Wie konntest du mich so verletzen?», sah ich, dass ich diejenige war, die sich so hat behandeln lassen. Dass ich diejenige war, die mich nicht beschützt hat, die mich verletzt und im Stich gelassen hat.

Es ist ein tiefer, innerer Prozess, sich kennen- und verstehen zu lernen. Sich selbst zu vergeben, bedeutet auf der einen Seite, sich Vergangenes zu vergegenwärtigen, mitfühlend auf unser jüngeres Ich zu schauen und zu verstehen, dass wir, aus unserem damaligen Wissen und Verständnis heraus, so gut gehandelt haben, wie wir konnten. Im Nachhinein wissen wir oft mehr und wir bereuen und ärgern uns, doch in dem Zauber dieses Prozesses erkennen wir, dass wir stetig dazulernen und wachsen und in der Vergangenheit noch nicht sehen konnten, was wir jetzt sehen. Im Hier und Jetzt haben wir die Möglichkeit, uns neu zu entscheiden, immer wieder.

Zudem geht der Weg zum inneren Frieden darüber hinaus, als «nur» mit vergangenen Situationen und Versionen von uns Frieden zu schließen; er bedeutet in jedem Moment, mit dem, was sich in uns zeigt, mit allen Gedanken und Gefühlen, versöhnlich und liebevoll umzugehen, weich mit ihnen – mit uns selbst – zu werden und Mitgefühl auch in die verschleiertsten und ungeliebtesten Bereiche unseres Selbst zu bringen.

Im ersten Teil von «Mitgefühl und Vergebung» zitierte ich C.G Jung, der fragte: «Was aber, wenn ich nun entdecken sollte, daß der armselige Bettler und der unverschämteste Beleidiger alle in mir selber sind und ich bedürftig bin, Empfänger meiner eigenen Wohltaten zu sein? Daß ich der Feind bin, den ich lieben muß - was dann?». Und ich glaube, eine Antwort darauf könnte sein, dass wir uns genau dann auf dem Weg heimwärts befinden. Dass wir, wenn wir uns unseren eigenen Anteilen stellen und lernen, die Perspektiven zu wechseln, erkennen, dass wir einander mehr ähneln, als wir glaubten.

Auf dem Weg zu sein, bedeutet auch, dass wir weiterhin «Fehler» machen werden, die uns dann unser zukünftiges Ich liebevoll vergeben wird.

«Die Welt selbst aber, das Seiende um uns her und in uns innen, ist nie einseitig. Nie ist ein Mensch, oder eine Tat, ganz Sansara oder ganz Nirvana, nie ist ein Mensch ganz heilig oder ganz sündig. Es scheint ja so, weil wir der Täuschung unterworfen sind, dass Zeit etwas Wirkliches sei. Zeit ist nicht wirklich, Govinda, ich habe dies oft und oft erfahren. Und wenn Zeit nicht wirklich ist, so ist die Spanne, die zwischen Welt und Ewigkeit, zwischen Leid und Seligkeit, zwischen Böse und Gut zu liegen scheint, auch eine Täuschung.

…Nein, in dem Sünder ist, ist jetzt und heute schon der künftige Buddha, seine Zukunft ist alle schon da, du hast in ihm, in dir, in jedem den werdenden, den möglichen, den verborgenen Buddha zu verehren. Die Welt, Freund Govinda, ist nicht unvollkommen, oder auf einem langsamen Wege zur Vollkommenheit begriffen: nein, sie ist in jedem Augenblick vollkommen, alle Sünde trägt schon die Gnade in sich, alle kleinen Kinder haben schon den Greis in sich, alle Säuglinge den Tod, alle Sterbenden das ewige Leben.

…Mögen die Dinge Schein sein oder nicht, auch ich bin alsdann ja Schein, und so sind sie stets meinesgleichen.  Das ist es, was sie mir so lieb und verehrenswert macht: sie sind meinesgleichen. Darum kann ich sie lieben. Und dies ist nun eine Lehre, über welche du lachen wirst: die Liebe, o Govinda, scheint mir von allem die Hauptsache zu sein.

Die Welt zu durchschauen, sie zu erklären, sie zu verachten, mag großer Denker Sache sein. Mir aber liegt einzig daran, die Welt lieben zu können, sie nicht zu verachten, sie und mich nicht zu hassen, sie und mich und alle Wesen mit Liebe und Bewunderung und Ehrfurcht betrachten zu können.»

– Hermann Hesse, Siddartha*

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@ 5627e59c:d484729e

Nooit is mijn dans echter\ Dan net nadat het regende\ Want regen biedt een kans\ Om mijn gevoel te voelen

Zolang de regen spettert\ En ik mezelf graag zie\ Wordt er niets verplettert\ Ook al lijkt dat soms wel zo

Zodra de regen ophoudt\ En zich terugtrekt met de wolken\ Komt een nieuwe glans\ Voor het eerst mijn ogen binnen

Wat is het leven heerlijk\ Als ik eerlijk ben en voel\ Wat is het leven zacht\ En het brengt me naar mijn doel

Wat zou ik weten zonder regen\ Gewoon steeds evenveel\ Niet groeien is niet leven\ Daarom dans ik het liefst

Net na de echte regen

@ a296b972:e5a7a2e8

Europa sitzt in einem Demokratie-Simulator. Auf die Scheiben im Cockpit werden Bilder projiziert, die nicht der Realität entsprechen, und es gibt immer noch zu viele Menschen, die diese Simulation nicht erkannt haben.

Nichts wäre erstrebenswerter, als über eine positive Entwicklung, hin zur Vernunft und realitätsbezogenen, auf Tatsachen beruhenden Entscheidungen, berichten zu können. Die Frage ist, ob nicht zuerst unentwegt auf Missstände hingewiesen werden muss, um weitere Menschen dazu zu bewegen, sich denjenigen anzuschließen, die offensichtlich an Indoktrinationsintoleranz leiden.

Wer sich vor Hofberichterstattung und die tägliche Fahrt durch die Gehirnwaschanlage schützen will, der meidet den öffentlich-rechtlichen Unfug und die einschlägigen Käseblätter, die vielleicht noch halbwegs dazu geeignet sind, den Fisch auf dem Markt einzuschlagen, um ihn nach Hause zu tragen, vorausgesetzt, man kann ihn sich noch leisten.

Die Neuen Medien liefern die Informationen, die man sonst im „Qualitäts-Mainstream“ nicht finden kann, was nicht verwundert, denn infiltriert von willigen Erfüllungsgehilfen, die Angst um ihr Prestige und ihre Stellung haben, kann man hier keine freie Berichterstattung erwarten.

Beste Unterhaltung bietet auch die Bundespressekonferenz-Show, auf die schon näher eingegangen wurde. Offizieller Regierungssprech in höchster Perfektion. Ob man dort wirklich davon überzeugt ist, dass es irgendjemanden gibt, der diesen Verlautbarungen Glauben schenkt? Was hat Tante Käthe immer gesagt: G E L D   L O C K T   I M M E R !

Was also tun? Die Neuen Medien auch noch meiden, und sich vor dem blanken Wahnsinn schützen, in dem man ihn ignoriert, was jedoch nicht bewirkt, dass er nicht mehr da wäre.

Temporäre Abstinenz tut auch hier gut, allerdings ist der Wiedereinstieg so ähnlich, wie der erste Arbeitstag nach einem zweimonatigen Urlaub, falls man nicht in seinem Lieblings-Job gelandet ist.

Und was, wenn die Irren vollends durchdrehen, und man bekommt es nicht mit? Schön, ändern kann man vielleicht wenig, aber man kann sich vielleicht noch eine richtig gute, edle Flasche Rotwein kaufen, und die am Vorabend des Untergangs genießen, oder noch schnell einen Baum pflanzen.

Hier ein Beispiel für jemanden, dessen besonderer Blick sehr an den Universal-Gesundheits-Klima-Hysteriker erinnert:

https\://rumble.com/v6umjdj-respekt-und-anerkennung-deutscher-general-lobt-ukrainische-angriffe-in-russ.html

Wie sieht der Alltag aus, wenn man sich einmal nicht mit den Informationen über Dauer- Bekloppte beschäftigt?

Wenn sich ein Besuch in der nächst größeren Stadt nicht vermeiden lässt, sieht man vor allem gehetzte Menschen, viele mit einem finsteren Blick, anders, als früher.

Viele zahlen mit Karte oder ihrem Handy, Kleckerbeträge. „Zahlen Sie noch bar, oder schon mit Überwachung?“, wünschte man sich, dass die Verkäuferinnen den Kunden fragen würden. Tun sie aber nicht.

Die Menschen scheinen keine Ahnung zu haben, was auf sie zukommt. Im Oktober soll der digitale Euro eingeführt werden, natürlich zuerst nur freiwillig. Was das bedeutet, kennt man ja schon. Freiwilligkeit durch das Schaffen eines Raumes, in dem der Zwang in der Luft hängt, wie damals der Kohlenstaub im Ruhrgebiet. Es wird die persönliche ID vorangetrieben, mit einem Wallet, das die Anonymität und die persönliche Freiheit immer mehr aushöhlen will.

Europa soll unter einen Demokratie-Schutzschirm gestellt werden, der zu nichts anderem dient, als dass diejenigen, die derzeit glauben zu wissen, was gut für die Menschen ist, ihre kruden Vorstellungen auch durchsetzen können. Zweifelhaft, was in den USA vorgeht, was da gerade mit Palantir, natürlich nur zur Sicherheit der Amerikaner, so im Hintergrund schon anläuft. Hierzu gibt es interessante Informationen von Regenauer und Tögel. Einziger Hoffnungsschimmer, besonders für Deutschland: Das klappt sowieso nicht. In den hintersten Bergdörfern in den italienischen Alpen gibt es Glasfaseranschluss, und fährt man in Deutschland auf’s Land, reiht sich Funkloch an Funkloch.

Die wirklich wichtige und große Frage ist, wie können sich Gemeinschaften, die diesen Irrsinn nicht mitmachen wollen, weitgehend aus dem System ausklinken? Bitcoin ist ein erster Schritt zur finanziellen Unabhängigkeit. Eine regionale Lebensmittelversorgung, mit nicht verseuchten, genunmanipulierten, mit Schadstoffen weitgehend unbelasteten Produkten entwickelt sich ebenfalls schon sehr gut. Was, wenn der Zugang zu Informationen über das Internet von einer Anmeldung mit persönlicher ID abhängt und man will und hat keine? Was ist mit Dokumenten, wenn man verreisen oder das Land verlassen will? Was ist, wenn man krank wird und auf das noch vorhandene Rest-Gesundheitssystem angewiesen ist? Was, wenn das Unternehmen seine Mitarbeiter auf staatliche Anweisung zu etwas zwingen muss, was der Mitarbeiter vielleicht gar nicht will, er aber auf das Einkommen angewiesen ist?

Das alles sind Fragen, zu denen es schwer ist, auch in den Neuen Medien, passende Antworten zu finden. Die würden in der Tat Hoffnung machen, dass es ein Schlupfloch gibt, sich, wenn vielleicht auch mit Einschränkungen, den „demokratischen“ Verhältnissen, auf denen nur noch Demokratie draufsteht, aber sehr wenig bis keine Demokratie mehr drin ist, so weit es geht zu entziehen. Sachdienliche Hinweise gerne in der Kommentarfunktion.

Oder ist es „gesünder“, sich zurückzuziehen, die Klappe zu halten und dafür zu sorgen, dass man unter dem Radar bleibt? Diese Gabe ist leider nicht jedem gegeben. Besonders nicht denen, die einen ausgeprägten Wahrheitssinn und ein starkes Gerechtigkeitsgefühl haben.

Menschen die andere belügen, die werden geliebt. Menschen, die anderen sagen, dass sie belogen werden, die werden gehasst.

„Die Wahrheit ist dem Menschen zumutbar.“ (Ingeborg Bachmann)

„Kein Mensch hat das Recht zu gehorchen.“ (Hannah Ahrendt)

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

* *

(Bild von pixabay)

@ f0fd6902:a2fbaaab

Barreleye fish are named for their unique, barrel-shaped eyes. These eyes can rotate, allowing the fish to look both upward and straight ahead. Their eyes also have bright green lenses protected behind a transparent forehead, which gives the fish a futuristic appearance, almost like a sci-fi submarine.

Barreleye fish grow to about 6 inches long and are found in the northeastern Pacific Ocean, living at depths of 2,000 to 2,600 feet below the surface. The yellow pigment in their eyes helps them distinguish between the faint bioluminescent light produced by living organisms and sunlight. This makes it easier to spot the siphonophores and zooplankton that they eat.

https://stacker.news/items/1004367

@ 472f440f:5669301e

Marty's Bent

Sup, freaks? Your Uncle Marty did a little vibe coding a couple months ago and that vibe coding project has turned into an actual product that is live in the Google Chrome web store and will soon to be live in the Firefox add-on store as well. It's called Opportunity Cost and it is an extension that enables you to price the internet in Bitcoin.

Opportunity Cost – See Prices in Bitcoin Instantly

Convert USD prices to Bitcoin (satoshis) as you browse. Dual display, privacy-first, and open source.

Opportunity CostTFTC

Check it out!

This whole process has been extremely rewarding to me for many reasons. The first of which is that I've had many ideas in the past to launch a product focused on bitcoin education that simply never left my brain because I never felt comfortable paying a developer to go out and build a product that I wasn't sure would ultimately get product market fit.

Due to the advancements of AI, particularly ChatGPT and Replit, I was able to spend a few hours on a Saturday vibe coding a prototype for Opportunity Cost. It worked. I side loaded it into Chrome and Firefox, tested it out for a few days and decided, "Hey, I think this is something that's worthwhile and should be built."

Backtracking just a little bit, the initial idea for this app was to create an AR application that would enable you to take pictures of goods in the real world and have their prices automatically converted to bitcoin so that you could weigh the opportunity cost of whether or not you actually wanted to buy that good or decide to save in bitcoin instead. With the help of Justin Moon from the Human Rights Foundation and Anthony Ronning from OpenSecret and Maple AI, I was pointed in the right direction of vibe coding tools I could use to build a simple MVP. I took their advice, built the MVP, and demoed it at the Bitcoin Park Austin weekly AI meetup in mid-April.

The next week, I was talking with a friend, Luke Thomas, about the idea and during our conversation he made a simple quip, "You should make a Chrome extension. I really want a Chrome extension that does this." And that's what sent me down the vibe coding rabbit hole that Saturday which led to the prototype.

After I was comfortable with and confident in the prototype, I found a young hungry developer by the name of Moses on Nostr, I reached out to him, told him my idea, showed him the prototype and asked if he thought he could finish the application for me. He luckily agreed to do so and within a couple of weeks we had a fully functioning app that was officially launched today. We're about 12 hours into the launch and I must say that I'm pleasantly surprised with the reception from the broader Bitcoin community. It seems like something that people are happy exists and I feel extremely happy that people see some value in this particular application.

Now that you have the backstory, let's get into why I think something like Opportunity Cost should exist. As someone who's been writing a newsletter and producing podcasts about bitcoin for eight years in an attempt to educate individuals from around the world about what bitcoin is, why it's important, and how they can leverage it, I've become convinced that a lot of the work that needs to be done still exists at the top of the funnel. You can scream at people. You can grab them by the shoulders. You can shake them. You can remind them at Thanksgiving that if they had listened to your advice during any Thanksgiving in the previous years they would be better off financially. But at the end of the day most people don't listen. They need to see things. Seeing things for yourself is a much more effective teaching mechanism than be lectured to by someone else.

My hope with Opportunity Cost is that it catches the eye of some bitcoin skeptics or individuals who may be on the cusp of falling down the bitcoin rabbit hole and they see the extension as a way to dip their toes into bitcoin to get a better understanding of the world by pricing the goods and services they purchase on a day-to-day month-to-month and year-to-year basis in bitcoin without having to download a wallet or set up an exchange account. The tippy top of the bitcoin marketing funnel.

That is not all though. I think Opportunity Cost can serve individuals at both ends of the funnel. That's why it's pretty exciting to me. It's as valuable to the person who is bitcoin curious and looking to get a better understanding as it is to the hardcore bitcoiner living on a bitcoin standard who is trying to get access to better tools that enable him to get a better grasp of their spending in bitcoin terms.

Lastly, after playing around with it for a few days after I built the prototype, I realized that it has incredible memetic potential. Being able to take a screenshot of goods that people are buying on a day-to-day basis, pricing them in bitcoin and then sharing them on social media is very powerful. Everything from houses to junk items on Amazon to the salaries of pro athletes to your everyday necessities. Seeing the value of those things in bitcoin really makes you think.

One day while I was testing the app, I tried to see how quickly I could find goods on the internet that cumulatively eclipsed the 21 million supply cap limit of bitcoin. To my surprise, even though I've been in bitcoin for 12 years now, it did not take me that long. The opportunity cost of everything I buy on a day-to-day basis becomes very clear when using the extension. What's even clearer is the fact that Bitcoin is completely mispriced at current levels. There is so much winning ahead of us.

Also, it's probably important to note that the extension is open source. You can check out our GitHub page here. Submit pull requests. Suggest changes to the app.

We've also tried to make Opportunity Cost as privacy preserving as possible. Everything within the extension happens in your browser. The only external data that we're providing is the bitcoin to fiat price conversion at any given point in time. We're not data harvesting the web pages you're browsing or the items you're looking at. We're not collecting data and sending it to third party marketers. We want to align ourselves with the open and permissionless nature of bitcoin while also preserving our users' privacy. We're not trying to monetize this in that way. Though, I will say that I'm thinking of ways to monetize Opportunity Cost if it does gain significant traction, but I promise it will be in a way that respects your privacy and is as unobtrusive as possible. We'll see how it goes.

Thank you for coming to my TED talk. Please download and use the extension. Let us know what you think.

Headlines of the Day

Saylor Says Bitcoin Is Perfect Money to Jordan Peterson - via X

Trump Won't Sell Tesla Despite Musk-Bessent Heated Exchange - via X

Bitcoin Gains Traction in Kenya's Largest Slum Kibera - via X

Get our new STACK SATS hat - via tftcmerch.io

---

Bitcoin’s Next Parabolic Move: Could Liquidity Lead the Way?

Is bitcoin’s next parabolic move starting? Global liquidity and business cycle indicators suggest it may be.

Read the latest report from Unchained and TechDev, analyzing how global M2 liquidity and the copper/gold ratio—two historically reliable macro indicators—are aligning once again to signal that a new bitcoin bull market may soon begin.

Download the report here

---

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

---

Final thought...

East Coast aesthetics over everything.

---

*Download our free browser extension, Opportunity Cost: *<<https://www.opportunitycost.app/>> start thinking in SATS today.

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

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

@ 5627e59c:d484729e

My life is my way Home\ My death is my arrival

I can't wait to be Home\ And so I love life

I can't wait to be Home\ And so I want to live to the fullest

For there are no shortcuts

Many people die\ And never make it Home

They will have to wait\ For another chance to die

Another chance to live fully\ And die totally

I'm so thankful to be alive\ I'm on my way Home

I'm so thankful to be alive\ To have another chance to die

Every day I take a step\ In the direction of my death\ I do not postpone it

Every day I take a step\ In the direction of my truth\ I do not avoid it

It is who I am, always have been\ And always will be

It lies beyond that door\ That keeps everything in check

Where only can go through\ Which is forever true

@ 472f440f:5669301e

Marty's Bent

Sup, freaks? Your Uncle Marty did a little vibe coding a couple months ago and that vibe coding project has turned into an actual product that is live in the Google Chrome web store and will soon to be live in the Firefox add-on store as well. It's called Opportunity Cost and it is an extension that enables you to price the internet in Bitcoin.

Opportunity Cost – See Prices in Bitcoin Instantly

Convert USD prices to Bitcoin (satoshis) as you browse. Dual display, privacy-first, and open source.

Opportunity CostTFTC

Check it out!

This whole process has been extremely rewarding to me for many reasons. The first of which is that I've had many ideas in the past to launch a product focused on bitcoin education that simply never left my brain because I never felt comfortable paying a developer to go out and build a product that I wasn't sure would ultimately get product market fit.

Due to the advancements of AI, particularly ChatGPT and Replit, I was able to spend a few hours on a Saturday vibe coding a prototype for Opportunity Cost. It worked. I side loaded it into Chrome and Firefox, tested it out for a few days and decided, "Hey, I think this is something that's worthwhile and should be built."

Backtracking just a little bit, the initial idea for this app was to create an AR application that would enable you to take pictures of goods in the real world and have their prices automatically converted to bitcoin so that you could weigh the opportunity cost of whether or not you actually wanted to buy that good or decide to save in bitcoin instead. With the help of Justin Moon from the Human Rights Foundation and Anthony Ronning from OpenSecret and Maple AI, I was pointed in the right direction of vibe coding tools I could use to build a simple MVP. I took their advice, built the MVP, and demoed it at the Bitcoin Park Austin weekly AI meetup in mid-April.

The next week, I was talking with a friend, Luke Thomas, about the idea and during our conversation he made a simple quip, "You should make a Chrome extension. I really want a Chrome extension that does this." And that's what sent me down the vibe coding rabbit hole that Saturday which led to the prototype.

After I was comfortable with and confident in the prototype, I found a young hungry developer by the name of Moses on Nostr, I reached out to him, told him my idea, showed him the prototype and asked if he thought he could finish the application for me. He luckily agreed to do so and within a couple of weeks we had a fully functioning app that was officially launched today. We're about 12 hours into the launch and I must say that I'm pleasantly surprised with the reception from the broader Bitcoin community. It seems like something that people are happy exists and I feel extremely happy that people see some value in this particular application.

Now that you have the backstory, let's get into why I think something like Opportunity Cost should exist. As someone who's been writing a newsletter and producing podcasts about bitcoin for eight years in an attempt to educate individuals from around the world about what bitcoin is, why it's important, and how they can leverage it, I've become convinced that a lot of the work that needs to be done still exists at the top of the funnel. You can scream at people. You can grab them by the shoulders. You can shake them. You can remind them at Thanksgiving that if they had listened to your advice during any Thanksgiving in the previous years they would be better off financially. But at the end of the day most people don't listen. They need to see things. Seeing things for yourself is a much more effective teaching mechanism than be lectured to by someone else.

My hope with Opportunity Cost is that it catches the eye of some bitcoin skeptics or individuals who may be on the cusp of falling down the bitcoin rabbit hole and they see the extension as a way to dip their toes into bitcoin to get a better understanding of the world by pricing the goods and services they purchase on a day-to-day month-to-month and year-to-year basis in bitcoin without having to download a wallet or set up an exchange account. The tippy top of the bitcoin marketing funnel.

That is not all though. I think Opportunity Cost can serve individuals at both ends of the funnel. That's why it's pretty exciting to me. It's as valuable to the person who is bitcoin curious and looking to get a better understanding as it is to the hardcore bitcoiner living on a bitcoin standard who is trying to get access to better tools that enable him to get a better grasp of their spending in bitcoin terms.

Lastly, after playing around with it for a few days after I built the prototype, I realized that it has incredible memetic potential. Being able to take a screenshot of goods that people are buying on a day-to-day basis, pricing them in bitcoin and then sharing them on social media is very powerful. Everything from houses to junk items on Amazon to the salaries of pro athletes to your everyday necessities. Seeing the value of those things in bitcoin really makes you think.

One day while I was testing the app, I tried to see how quickly I could find goods on the internet that cumulatively eclipsed the 21 million supply cap limit of bitcoin. To my surprise, even though I've been in bitcoin for 12 years now, it did not take me that long. The opportunity cost of everything I buy on a day-to-day basis becomes very clear when using the extension. What's even clearer is the fact that Bitcoin is completely mispriced at current levels. There is so much winning ahead of us.

Also, it's probably important to note that the extension is completely open source with an MIT license. You can check out our GitHub page here. Submit pull requests. Suggest changes to the app.

We've also tried to make Opportunity Cost as privacy preserving as possible. Everything within the extension happens in your browser. The only external data that we're providing is the bitcoin to fiat price conversion at any given point in time. We're not data harvesting the web pages you're browsing or the items you're looking at. We're not collecting data and sending it to third party marketers. We want to align ourselves with the open and permissionless nature of bitcoin while also preserving our users' privacy. We're not trying to monetize this in that way. Though, I will say that I'm thinking of ways to monetize Opportunity Cost if it does gain significant traction, but I promise it will be in a way that respects your privacy and is as unobtrusive as possible. We'll see how it goes.

Thank you for coming to my TED talk. Please download and use the extension. Let us know what you think.

Headlines of the Day

Saylor Says Bitcoin Is Perfect Money to Jordan Peterson - via X

Trump Won't Sell Tesla Despite Musk-Bessent Heated Exchange - via X

Bitcoin Gains Traction in Kenya's Largest Slum Kibera - via X

Get our new STACK SATS hat - via tftcmerch.io

---

Bitcoin’s Next Parabolic Move: Could Liquidity Lead the Way?

Is bitcoin’s next parabolic move starting? Global liquidity and business cycle indicators suggest it may be.

Read the latest report from Unchained and TechDev, analyzing how global M2 liquidity and the copper/gold ratio—two historically reliable macro indicators—are aligning once again to signal that a new bitcoin bull market may soon begin.

Download the report here

---

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

---

Final thought...

East Coast aesthetics over everything.

---

*Download our free browser extension, Opportunity Cost: *<https://www.opportunitycost.app/> start thinking in SATS today.

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

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

@ 472f440f:5669301e

Marty's Bent

Sup, freaks? Your Uncle Marty did a little vibe coding a couple months ago and that vibe coding project has turned into an actual product that is live in the Google Chrome web store and will soon to be live in the Firefox add-on store as well. It's called Opportunity Cost and it is an extension that enables you to price the internet in Bitcoin.

Opportunity Cost – See Prices in Bitcoin Instantly

Convert USD prices to Bitcoin (satoshis) as you browse. Dual display, privacy-first, and open source.

Opportunity CostTFTC

Check it out!

This whole process has been extremely rewarding to me for many reasons. The first of which is that I've had many ideas in the past to launch a product focused on bitcoin education that simply never left my brain because I never felt comfortable paying a developer to go out and build a product that I wasn't sure would ultimately get product market fit.

Due to the advancements of AI, particularly ChatGPT and Replit, I was able to spend a few hours on a Saturday vibe coding a prototype for Opportunity Cost. It worked. I side loaded it into Chrome and Firefox, tested it out for a few days and decided, "Hey, I think this is something that's worthwhile and should be built."

Backtracking just a little bit, the initial idea for this app was to create an AR application that would enable you to take pictures of goods in the real world and have their prices automatically converted to bitcoin so that you could weigh the opportunity cost of whether or not you actually wanted to buy that good or decide to save in bitcoin instead. With the help of Justin Moon from the Human Rights Foundation and Anthony Ronning from OpenSecret and Maple AI, I was pointed in the right direction of vibe coding tools I could use to build a simple MVP. I took their advice, built the MVP, and demoed it at the Bitcoin Park Austin weekly AI meetup in mid-April.

The next week, I was talking with a friend, Luke Thomas, about the idea and during our conversation he made a simple quip, "You should make a Chrome extension. I really want a Chrome extension that does this." And that's what sent me down the vibe coding rabbit hole that Saturday which led to the prototype.

After I was comfortable with and confident in the prototype, I found a young hungry developer by the name of Moses on Nostr, I reached out to him, told him my idea, showed him the prototype and asked if he thought he could finish the application for me. He luckily agreed to do so and within a couple of weeks we had a fully functioning app that was officially launched today. We're about 12 hours into the launch and I must say that I'm pleasantly surprised with the reception from the broader Bitcoin community. It seems like something that people are happy exists and I feel extremely happy that people see some value in this particular application.

Now that you have the backstory, let's get into why I think something like Opportunity Cost should exist. As someone who's been writing a newsletter and producing podcasts about bitcoin for eight years in an attempt to educate individuals from around the world about what bitcoin is, why it's important, and how they can leverage it, I've become convinced that a lot of the work that needs to be done still exists at the top of the funnel. You can scream at people. You can grab them by the shoulders. You can shake them. You can remind them at Thanksgiving that if they had listened to your advice during any Thanksgiving in the previous years they would be better off financially. But at the end of the day most people don't listen. They need to see things. Seeing things for yourself is a much more effective teaching mechanism than be lectured to by someone else.

My hope with Opportunity Cost is that it catches the eye of some bitcoin skeptics or individuals who may be on the cusp of falling down the bitcoin rabbit hole and they see the extension as a way to dip their toes into bitcoin to get a better understanding of the world by pricing the goods and services they purchase on a day-to-day month-to-month and year-to-year basis in bitcoin without having to download a wallet or set up an exchange account. The tippy top of the bitcoin marketing funnel.

That is not all though. I think Opportunity Cost can serve individuals at both ends of the funnel. That's why it's pretty exciting to me. It's as valuable to the person who is bitcoin curious and looking to get a better understanding as it is to the hardcore bitcoiner living on a bitcoin standard who is trying to get access to better tools that enable him to get a better grasp of their spending in bitcoin terms.

Lastly, after playing around with it for a few days after I built the prototype, I realized that it has incredible memetic potential. Being able to take a screenshot of goods that people are buying on a day-to-day basis, pricing them in bitcoin and then sharing them on social media is very powerful. Everything from houses to junk items on Amazon to the salaries of pro athletes to your everyday necessities. Seeing the value of those things in bitcoin really makes you think.

One day while I was testing the app, I tried to see how quickly I could find goods on the internet that cumulatively eclipsed the 21 million supply cap limit of bitcoin. To my surprise, even though I've been in bitcoin for 12 years now, it did not take me that long. The opportunity cost of everything I buy on a day-to-day basis becomes very clear when using the extension. What's even clearer is the fact that Bitcoin is completely mispriced at current levels. There is so much winning ahead of us.

Also, it's probably important to note that the extension is completely open source with an MIT license. You can check out our GitHub page here. Submit pull requests. Suggest changes to the app. Fork it. Use it yourself. Make your own changes.

We've also tried to make Opportunity Cost as privacy preserving as possible. Everything within the extension happens in your browser. The only external data that we're providing is the bitcoin to fiat price conversion at any given point in time. We're not data harvesting the web pages you're browsing or the items you're looking at. We're not collecting data and sending it to third party marketers. We want to align ourselves with the open and permissionless nature of bitcoin while also preserving our users' privacy. We're not trying to monetize this in that way. Though, I will say that I'm thinking of ways to monetize Opportunity Cost if it does gain significant traction, but I promise it will be in a way that respects your privacy and is as unobtrusive as possible. We'll see how it goes.

Thank you for coming to my TED talk. Please download and use the extension. Let us know what you think.

Headlines of the Day

Saylor Says Bitcoin Is Perfect Money to Jordan Peterson - via X

Trump Won't Sell Tesla Despite Musk-Bessent Heated Exchange - via X

Bitcoin Gains Traction in Kenya's Largest Slum Kibera - via X

Get our new STACK SATS hat - via tftcmerch.io

---

Bitcoin’s Next Parabolic Move: Could Liquidity Lead the Way?

Is bitcoin’s next parabolic move starting? Global liquidity and business cycle indicators suggest it may be.

Read the latest report from Unchained and TechDev, analyzing how global M2 liquidity and the copper/gold ratio—two historically reliable macro indicators—are aligning once again to signal that a new bitcoin bull market may soon begin.

Download the report here

---

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

---

Final thought...

East Coast aesthetics over everything.

---

Download our free browser extension, Opportunity Cost: https://www.opportunitycost.app/ start thinking in SATS today.

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

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

@ f0fd6902:a2fbaaab

https://stacker.news/items/1004357

@ 472f440f:5669301e

Marty's Bent

via me

"The man in the coma" has been a long-running archetype of a bitcoiner on TFTC and Rabbit Hole Recap. Over the years, we've referenced the man in the coma in regards to bitcoin being a backward compatible distributed network that would enable an individual, in the case of our example - a man who fell into a coma, to be able to wake up many years, even decades, after falling into a deep sleep, go back to his bitcoin node and be able to participate in the network and validate his own transactions as if the network was operating the same it was the day he slipped into a coma. As a distributed network, this is one of bitcoin's greatest value props; consistency for the individual running it, no matter the version.

Having spent 12 years engrossed in bitcoin, thinking about it every day, building a media company focused on educating people about the network and the monetary revolution it enables, why it's important and how they can use it. Becoming a managing partner at Ten31, which is dedicated to investing in companies building out infrastructure that makes bitcoin more accessible and easier to use; "the man in the coma" has become a more prominent archetype in my mind.

"The man in the coma" archetype can be described in other ways. For instance, there was an individual by the name of John Doe, who joined myself and Matt Odell on TFTC about seven years ago who went to jail for four years. He was distributing certain goods on the Silk Road for many years and got nabbed by the police while throwing a house party. Unfortunately for Mr. Doe, the goods he were selling via the Silk Road were in the house hosting the party that got busted. Fortunately for Mr. Doe, the police who nabbed him were not privy to the way in which he was marketing and selling the goods. He went to jail for four years, walked out at the end of his sentence, found his bitcoin wallets, recovered them and was more than pleasantly surprised at the magnitude of his wealth.

The forced hodl that was incited by the state throwing him in a cage wound up paying off after four years. Now, I can certainly admit that time is the most scarce asset in the world. Being put in a cage for four years or falling into a coma for a number of years is not ideal. However, there are lessons to be gleaned from the successes that have been realized by "the man in the coma" and the man who was forced to hodl by being thrown in a cage. Unable to access his bitcoin during that period of time to make less than wise decisions.

The main lesson to be gleaned is that doing nothing is oftentimes significantly more optimal than doing something. Too many bitcoiners decide to make rash decisions influenced by the day-to-day happenings on social media or some one-off comment from someone in their personal life that they respect. These comments can be about the long-term viability of bitcoin itself, some prognostications about where the price is going in a short-term to medium-term time frame or simply the social aspects of being associated with bitcoin. All of these factors play into influencing certain individuals deciding to sell their bitcoin in the hopes of buying it back lower, realizing something material in their day-to-day life or jumping off a ship that they've been convinced is about to sink.

In my mind, the only thing listed above that makes a bit of sense to me is realizing something material in your day-to-day life. Selling some bitcoin to purchase something that makes your life better like enabling you to support your family at a critical time and in a way that would not be possible unless you sold bitcoin. That makes sense to me. However, the other two are completely nonsensical. Bitcoin's success is binary. It either succeeds or it doesn't. And if you accept that this is true, success means slowly but surely becoming the global reserve currency and monetary network used by billions of humans on the planet or it goes to zero.

If the former materializes, that means that billions of people are going to be competing for 21 million Bitcoin. There are, by some estimates, $900 trillion worth of assets that are being used to store wealth over the short, medium, and long term. Bitcoin has the potential to subsume a material percentage of that $900 trillion. In my mind, if bitcoin is as good as I believe it is, it should take at least half of that market, if not 80 to 90%. This in and of itself is a gamble. No one can be certain that this will come true. And with that in mind you have to make a probabilistic bet by surveying the world and discerning what the likelihood of bitcoin's ultimate success is.

If you think governments, central banks, and large corporations are going to continue down the path of unfettered expansion of the monetary base, debt, and misallocation of capital, bitcoin, a peer-to-peer distributed cash system that cannot be controlled by any individual. corporation, country, or central bank makes a lot of sense. The debasement, the debt expansion, and the misallocation of capital are driven by fallible humans working in incentive structures that are vulnerable to the fallible nature of the humans working within them.

Human fallibility brings with it the ability to talk oneself out of a position that one knows makes sense and is logical. This is the disadvantage that those who are not "the man in the coma" or "the man in a cage" operate from. Being forced to hodl bitcoin is already and will increasingly be seen as a relative advantage. Many who are in bitcoin today, paying attention to every headline, every pull request and every doubt flung their way will likely get to 2030 and agree that they made worse decisions than the man who was thrown in a cage or who slipped into a coma.

Of course, this isn't a fair introspective conclusion. The man in the coma and the man who was forced to hodl because he was put in a jail cell did not have a decision at the end of the day. Both were forced to hodl due to external or internal forces that, all else being equal, they would prefer not have had to endure. However, the outcome of these two situations will likely be better than the outcome of "the man in the arena" who thinks that by making decisions on the go as a slew of information comes his way on a day-to-day basis will materialize in a larger stack of satoshis.

The reality of the situation is such that no one truly knows where bitcoin is going to go on a day-to-day, month-to-month, or year-to-year basis. Especially at this point with large institutions, nation-states, corporations, and individual states getting into the fray. The only tried-and-true strategy within bitcoin over the long term is to stay humble, stack sats, and hodl like you are "the man in the coma" or the man who was thrown in a cage.

Bitcoin's Volatility Won't End With Institutional Adoption

Leon Wankum challenged the popular "supercycle" narrative during our conversation, arguing that Bitcoin's volatility isn't going away despite massive institutional adoption. While acknowledging that MicroStrategy now holds over 2% of all Bitcoin and won't sell, Leon maintains that leverage will still need to be washed out. He expects another 60% drawdown at the end of this bull cycle, viewing this as a feature rather than a bug of Bitcoin's design.

"Bitcoin naturally washes out leverage, it builds resilience and we don't go through these crazy boom and bust cycles, we go through bull and bear markets and I think that's a net positive." - Leon Wankum

Leon sees Bitcoin's volatility as fundamentally different from fiat's destructive boom-bust cycles. Where traditional markets require central bank intervention to prop up failing systems, Bitcoin's regular corrections create genuine resilience. Bad actors will always enter during euphoric phases, and the subsequent washouts ensure only strong hands remain. This natural selection process, he argues, is beautiful - it's what makes Bitcoin antifragile.

Check out the full podcast here for more on real estate opportunity costs, Bitcoin bonds, and treasury company risks.

---

Headlines of the Day

Romania Adds Crypto Terminals to Post Offices - via X

Musk Claims Trump in Epstein Files - via X

Uber CEO Calls Bitcoin Proven Store of Value - via X

Get our new STACK SATS hat - via tftcmerch.io

---

Take the First Step Off the Exchange

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

Take control. Start with Bitkey.

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

---

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

---

Final thought...

The kids really do grow up faster than you expect.

---

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@ 8bf578f4:b6303c41

Artificial Intelligence (AI) has long been a subject of fascination and debate among researchers and enthusiasts alike. One of the most intriguing aspects of AI is its potential to surpass human capabilities in specific tasks. When an AI system's output for a given task becomes better than that of a comparable human specialist, it marks a significant milestone known as the accelerative growth starting point. This threshold signifies more than just a technological achievement; it represents a fundamental shift in how we perceive and utilize intelligence. At this juncture, the AI's ability to outperform humans in specific domains triggers an exponential growth phase. This is because AI systems can process vast amounts of data and identify patterns that humans might miss, leading to continuous improvement. For those using local AI models and open-source tools on Linux environments, this means leveraging frameworks like TensorFlow or PyTorch to train and deploy models that can achieve state-of-the-art performance in various tasks.

The concept of exponential growth in AI can be illustrated through mathematical models. For instance, consider a simple model where the performance improvement of an AI system follows a power law: P(t) = t^k, where P(t) is the performance at time t, and k is a constant that determines the rate of improvement. As t increases, the growth in performance accelerates rapidly. This exponential growth is particularly relevant for decentralized technologies and peer-to-peer (P2P) networks, such as those enabled by protocols like Nostr. In these environments, AI models can be distributed across multiple nodes, allowing for collaborative training and inference. This decentralization not only enhances robustness but also enables scalable and efficient use of computational resources.

One of the key drivers of this exponential growth is the AI's ability to design new systems faster and better than humans. This self-improvement loop is often referred to as recursive self-improvement (RSI). In RSI, an AI system not only performs tasks but also optimizes its own algorithms and architectures. This iterative process allows the AI to continually enhance its capabilities, leading to a feedback loop where each iteration results in more significant improvements than the last. For users of local AI models, this means continuously updating and refining models to take advantage of the latest advancements in machine learning techniques. Tools like Docker can be used to containerize AI applications, ensuring consistency across different environments and facilitating easy deployment on decentralized networks.

The implications of this exponential growth are profound, particularly for those working with open-source tools and local AI models. As AI systems become increasingly capable, they will likely outpace human intelligence in an ever-expanding range of domains. This raises important technical challenges, such as ensuring that AI systems can handle the complexity and scale of decentralized data. For instance, federated learning allows multiple nodes to train a model collaboratively without exchanging raw data, preserving privacy while leveraging distributed computational power. Implementing federated learning in P2P networks can enhance the security and efficiency of AI applications.

Moreover, the exponential growth of AI has significant technical implications for industries that can leverage AI to enhance productivity and innovation. For example, in fields like natural language processing (NLP), AI models can be trained on decentralized datasets using tools like Hugging Face's Transformers library. This allows for the development of advanced language models that can understand and generate human-like text. Similarly, in computer vision, distributed training frameworks can be used to develop models that can analyze and interpret visual data more accurately than ever before.

Another critical aspect is the potential for AI to augment human capabilities rather than replace them entirely. In many fields, AI can serve as a powerful tool that enhances human decision-making and creativity. For example, in healthcare, AI algorithms can assist doctors in diagnosing diseases more accurately by analyzing medical images and patient data. This collaborative approach leverages the strengths of both humans and machines. For users of local AI models, this means integrating AI tools into existing workflows to enhance productivity and innovation.

However, achieving this harmonious integration requires addressing several technical challenges. One such challenge is ensuring that AI systems are transparent and interpretable. Black-box models, while often highly accurate, can be difficult to understand and trust. Developing explainable AI (XAI) techniques that provide insights into how these models make decisions is crucial for building trust and acceptance. For those using open-source tools, libraries like LIME (Local Interpretable Model-agnostic Explanations) and SHAP (SHapley Additive exPlanations) can be invaluable in making AI models more interpretable.

Additionally, the technical considerations surrounding AI's exponential growth are vast. As AI systems become more autonomous and capable, they will increasingly make decisions that affect various aspects of technology and society. Ensuring that these decisions are fair, unbiased, and aligned with technological goals is a complex but essential task. This involves not only technical solutions but also robust frameworks for deploying and managing AI models in decentralized environments.

In conclusion, the accelerative growth starting point in AI marks a pivotal moment in technological evolution. From this point onwards, the exponential growth of intelligence will reshape industries, economies, and societies. Machine learning experts must be at the forefront of navigating these changes, ensuring that AI's potential is harnessed responsibly and effectively. The future of AI holds immense promise, but it also demands vigilance and foresight to address the challenges that lie ahead. For those using local AI models, open-source tools, and Linux environments, this means staying at the cutting edge of technological advancements and leveraging decentralized technologies like Nostr to build robust and scalable AI applications.

By Alex TechSmith, Machine Learning Engineer

@ 4fe14ef2:f51992ec

Howdy Stackers,

Leave a comment below to share your hustles and wins. Let us know what you've sold this week. Have you sold it for bitcoin, sats or zaps? It doesn't matter how big or small your item is, solid or digital, product or service.

Just share below what you’ve listed, swapped, and sold. Let everyone rave on your latest deals!

Like and repost ^1:

https://stacker.news/items/1004320

@ 472f440f:5669301e

Marty's Bent

J.P. Morgan CEO Jamie Dimon has long been an outspoken skeptic and critic of bitcoin. He has called Bitcoin a speculative asset, a fraud, a pet rock, and has opined that it will inevitably blow up. A couple of years ago, he was on Capitol Hill saying that if he were the government, he would "close it down". Just within the last month, he was on Fox Business News talking with Maria Bartiromo, proclaiming that the U.S. should be stockpiling bullets and rare earth metals instead of bitcoin. It's pretty clear that Jamie Dimon, who is at the helm of the most powerful and largest bank in the world, does not like bitcoin one bit.

Evidence below:

via Bitcoin Magazine

via me

via CNBC

via Trending Politics

Despite Dimon's distinguished disdain for Bitcoin, J.P. Morgan cannot deny reality. The CEO of the largest bank in the world is certainly a powerful man, but no one individual, even in the position that Jamie Dimon is in, is more powerful than the market. And the market has spoken very clearly, it is demanding bitcoin. The Bitcoin ETFs have been the most successful ETFs in terms of pace of growth since their launch. They've accumulated tens of billions of dollars in AUM in a very short period of time. Outpacing the previous record set by the gold ETF, GLD.

Whether or not Jamie Dimon himself likes Bitcoin doesn't matter. J.P. Morgan, as the largest bank in the world and a publicly traded company, has a duty to shareholders. And that duty is to increase shareholder value by any ethical and legal means necessary. Earlier today, J.P. Morgan announced plans to offer clients financing against their Bitcoin ETFs, as well as some other benefits, including having their bitcoin holdings recognized in their overall net worth and liquid assets, similar to stocks, cars, and art, which will be massive for bitcoiners looking to get mortgages and other types of loans.

via Bloomberg

I've talked about this recently, but trying to buy a house when most of your liquid net worth is held in bitcoin is a massive pain in the ass. Up until this point, if you wanted to have your bitcoin recognized as part of your net worth and count towards your overall credit profile, you would need to sell some bitcoin, move it to a bank account, and have it sit there for a certain period of time before it was recognized toward your net worth. This is not ideal for bitcoiners who have sufficient cash flows and don't want to sell their bitcoin, pay the capital gains tax, and risk not being able to buy back the amount of sats they were forced to sell just to get a mortgage.

It's not yet clear to me whether or not J.P. Morgan will recognize bitcoin in cold storage toward their clients' net worth and credit profile, or if this is simply for bitcoin ETFs only. However, regardless, this is a step in the right direction and a validation of something that many bitcoiners have been saying for years. Inevitably, everyone will have to bend the knee to bitcoin. Today, it just happened to be the largest bank in the world. I expect more of this to come in the coming months, years, and decades.

Lyn Alden likes to say it in the context of the U.S. national debt and the fiscal crisis, but it also applies to bitcoin adoption and the need for incumbents to orient themselves around the demands of individual bitcoiners; nothing stops this train.

Corporate Bitcoin Treasuries are Changing Market Dynamics

Leon Wankum revealed how corporate Bitcoin treasuries are fundamentally reshaping business dynamics. Companies can now issue equity to fund operations while preserving their Bitcoin holdings, creating a revolutionary capital structure. Leon highlighted MicroStrategy's position, noting they hold enough Bitcoin to cover dividend payments for over 200 years. This model enables companies to reduce founder dilution since they don't need repeated funding rounds when their treasury appreciates.

"Some companies' Bitcoin treasuries are now worth more than all money they've ever raised." - Leon Wankum

Leon shared examples from his own portfolio companies where this strategy has proven transformative. Public companies have discovered an entirely new business model through strategic dilution that actually increases BTC per share. As Leon explained, this approach allows firms to leverage equity markets for operational funding while their Bitcoin treasury compounds in value, creating a positive feedback loop that benefits both shareholders and the company's long-term sustainability.

Check out the full podcast here for more on real estate price cycles, Bitcoin lending products, and the transition to a Bitcoin standard.

---

Headlines of the Day

California May Seize Idle Bitcoin After 3 Years - via X

Semler Scientific Buys $20M More Bitcoin, Holds $467M - via X

US Home Sellers Surge as Buyers Hit 4-Year Low - via X

Get our new STACK SATS hat - via tftcmerch.io

---

Take the First Step Off the Exchange

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

Take control. Start with Bitkey.

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

---

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

---

Final thought...

I feel old.

---

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@ f0fd6902:a2fbaaab

Highlights Day 2 - Lexus Trestles Pro Presented by Outerknown 2025:

https://yewtu.be/watch?v=b7qhWvPpMCY

Full Day 2 - Lexus Trestles Pro Presented by Outerknown 2025:

https://yewtu.be/watch?v=uxwWJTCWW1Y

Results Women (Round 16 & Quarter Final) and Men (Round 16)

Source: https://www.worldsurfleague.com/posts/538099/its-on-finals-day-of-the-trestles-pro?roundId=24857&statEventId=4784

https://stacker.news/items/1004308

@ 472f440f:5669301e

Marty's Bent

via nostr:nprofile1qyxhwumn8ghj7mn0wvhxcmmvqy0hwumn8ghj7mn0wd68yttjv4kxz7fwvf5hgcm0d9hzumnfde4xzqpq85h9z5yxn8uc7retm0n6gkm88358lejzparxms5kmy9epr236k2qtyz2zr

A lot of the focus over the last couple of months has been on the emergence of Strategy competitors in public markets looking to build sizable bitcoin treasuries and attract investors of all shapes and sizes to drive shareholder value. The other big topic in the bitcoin development world has been around OP_RETURN and the debate over whether or not the amount of data that can be shoved into a bitcoin transaction should be decided by the dominant implementation.

A topic that is just as, if not more, important that is not getting enough appreciation is the discussion around open source bitcoin developers and the lingering effects of the Biden administration's attack on Samourai Wallet and Tornado Cash. If you read our friend Matt Corallo's tweet above, you'll notice that the lingering effects are such that even though the Trump administration has made concerted efforts to reverse the effects of Operation Chokepoint 2.0 that were levied by the Biden administration, Elizabeth Warren, and her friends at the Treasury and SEC - it is imperative that we enshrine into law the rights of open source developers to build products and services that enable individuals to self-custody bitcoin and use it in a peer-to-peer fashion without the threat of getting thrown in jail cell.

As it stands today, the only assurances that we have are from an administration that is overtly in favor of the proliferation of bitcoin in the United States. There is nothing in place to stop the next administration or another down the line from reverting to Biden-era lawfare that puts thousands of bitcoin developers around the world at risk of being sent into a cage because the government doesn't like how some users leverage the code they write. To make sure that this isn't a problem down the line it is imperative that we pass the Blockchain Regulatory Clarity Act, which would not hold bitcoin developers liable for the ways in which end users leverage their tools.

Not only is this an act that would protect developers from pernicious government officials targeting them when end users use their technology in a way that doesn't make the government happy, it will also protect YOU, the end user, looking to transact in a peer-to-peer fashion and leverage all of the incredible properties of bitcoin the way they were meant to be. If the developers are not protected, they will not be able to build the technology that enables you to leverage bitcoin.

So do your part and go to saveourwallets.org. Reach out to your local representatives in Congress and Senators and make some noise. Let them know that this is something that you care deeply about and that they should not only pay attention to this bill but push it forward and enshrine it into law as quickly as possible.

There are currently many developers either behind bars or under house arrest for developing software that gives you the ability to use Bitcoin in a self-sovereign fashion and use it in a privacy-preserving way. Financial privacy isn't a crime. It is an inalienable human right that should be protected at all cost. The enshrinement of this inalienable right into law is way past due.

#FreeSamourai #FreeRoman

Headlines of the Day

MicroStrategy Copycats See Speculative Premiums Fade - via X

Square Tests Bitcoin Payments, Lightning Yields Beat DeFi - via X

Get our new STACK SATS hat - via tftcmerch.io

Bitfinex Moves $731M Bitcoin to Jack Mallers' Fund - via X

---

Take the First Step Off the Exchange

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

Take control. Start with Bitkey.

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

---

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

---

Final thought...

Should I join a country club?

---

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@ fe02e8ec:f07fbe0b

Wir können davon ausgehen, dass die allermeisten Personen, die das hier lesen, die realen Funktionen der Mainstream-Medien schon länger erkannt haben. Diese bestehen vor allem darin, der Bevölkerung das von den herrschenden Kräften gewünschte Bild der Wirklichkeit zu vermitteln oder überhaupt zu erzeugen. Der Altmeister der Propaganda, Edward Bernays, hat dies bereits 1928 beschrieben, als die Massenmedien nur aus Tageszeitungen bestanden:

«Die bewusste und intelligente Manipulation der organisierten Gewohnheiten und Meinungen der Massen ist ein wichtiges Element einer demokratischen Gesellschaft.»

Und an anderer Stelle: «Diejenigen, die diesen unsichtbaren Mechanismus der Gesellschaft manipulieren, bilden eine unsichtbare Regierung, die die wahre herrschende Macht unseres Landes ist.» Oder Noam Chomsky, einer der gelehrtesten Kritiker staatlicher Machtausübung:

«Indoktrination ist keineswegs inkompatibel mit der Demokratie. Vielmehr ihre Essenz. Ohne Knüppel, ohne Kontrolle durch Gewalt muss man das Denken kontrollieren. Dazu greift man zu dem, was in ehrlicheren Zeiten Propaganda genannt wurde.»

Man könnte noch eine ganze Reihe weiterer höchst aussagekräftiger Zitate anführen, von Walter Lippman («Die öffentliche Meinung»), Gustave Le Bon («Psychologie der Massen») bis hin zu John F. Kennedy oder ganz aktuell Mattias Desmet («Massenbildung»). Nichts davon ist neu, alles wurde seit Anfang des 20. Jahrhunderts ausführlich und sehr konkret beschrieben.

Und doch kennt die Mehrheit der Bevölkerung keine einzige dieser Aussagen.

Jeder, der selbst seinen ureigenen Erkenntnisprozess durchgemacht hat, kommt unweigerlich zu dem Ergebnis, dass die Welt, wie sie uns durch Politik und Medien vorgespielt wird, zumeist nichts anderes ist als ein großes Schauspiel. Stets werden die wahren Absichten und Ziele verborgen, nie wird die ganze Wahrheit enthüllt, höchstens ein paar Stücke davon, wenn es sich gar nicht mehr verhindern lässt.

«Macht hat derjenige, der große Ereignisse herbeiführen kann. Doch noch größere Macht haben diejenigen, die bestimmen können, was die Menschen über die Ereignisse denken» (aus: «Hinter der Zukunft»).

Diese Erkenntnis hat bei vielen zu dem Entschluss geführt, die «Unwissenden» über diese Tatsachen zu informieren. Denn es kann ja nicht sein, dass sich Familie, Freunde, Bekannte weiterhin so täuschen lassen. Die große Ent-Täuschung war das Ziel. Doch das Ergebnis war die eigentliche Enttäuschung: hitzige Diskussionen, Streitereien am Familientisch, Abbruch von Freundschaften. Selbst das Vorführen des Einsturzes von WTC 7, dem dritten Gebäude, das am 11. September 2001 in Fallgeschwindigkeit vollkommen symmetrisch eingestürzt war, konnte nicht überzeugen.

Verschwörungstheorien?

Alles Verschwörungstheorien. Seit der Ermordung John F. Kennedys hat dieser Begriff – ursprünglich von der CIA eingeführt — ein immer größeres Minenfeld wachsen lassen, um Themen von offener Diskussion abzuschirmen. In diesem Minenfeld sind unzählige Freundschaften explodiert, Karrieren abgestürzt und Menschen in die innere Isolation getrieben worden. Deshalb muss es hier erwähnt werden. Denn das ist die Gefahr, in die sich jeder begibt, der versucht, über seine Erkenntnisse zu sprechen oder zu schreiben. Die Gefahr des sozialen Ausschlusses. Ein schauerliches Beispiel lieferte Anfang Mai in menschenverachtender Weise ein gewisser Böhmermann ab. Sein Ziel war es, den Betreiber des youtube-Kanals Clownswelt, der die Machenschaften des medialen und politischen Personals satirisch zum Vorschein bringt, gesellschaftlich zu vernichten. Denn das ist das Damoklesschwert, das über denjenigen hängt, die das Minenfeld betreten, Tabus antasten und das Overton-window verlassen. Diffamierung, sozialer Ausschluss, Job-Verlust. Reicht auch das nicht, so droht die Kündigung des Bankkontos oder gar eine Hausdurchsuchung. Alles hundertfach geschehen. Und der Normalbürger hat absolut keine Idee, dass so etwas überhaupt in unserem Staat geschieht. Denn es kommt nicht in der Tagesschau, im Spiegel oder der SZ.

Ratlosigkeit, Verzweiflung bis hin zu Aggression sind oft die Folge dieser weltanschaulichen Zweiteilung. Wie ist es möglich, dass Menschen das Offensichtliche nicht sehen, selbst wenn es im Video vor ihnen abläuft? Wenn man sich die Lügenkonstrukte um Klima, Corona oder Ukraine ansieht, dann könnte man daran verzweifeln, dass es die «Anderen» nicht begreifen. Wenn die Dinge derart klar zu sehen sind, wieso gelingt es dann nicht, andere davon zu überzeugen? Nicht wenige zogen sich zurück, recherchierten noch ausführlicher, fanden einen Hinweis nach dem anderen, dass die Welt und ihre Systeme ganz anders beschaffen sind, als es dem Normalbürger vorgegaukelt wird. Dabei musste jeder – wirklich jeder – für sich immer neu die Grenze dessen finden, was noch glaubhaft war und was nicht.

Wie viele Stunden, Tage, Monate verbrachte (und verbringt) ein durch diesen Prozess gegangener Mensch mit seinen Recherchen? Wie oft ist er in die Falle einer Theorie geraten, die sich im Nachhinein als erfunden herausgestellt hat? Wie viele Texte zu historischen Vorgängen, zu verborgenen Organisationen, zu Kindesmissbrauch, satanischen Riten oder Blutlinien wollen noch erforscht werden? Wann ist man zufrieden mit den teils radikalen Anpassungen seines eigenen Weltbildes? Wann darf man sich als «aufgewacht» bezeichnen?

Wie gelingt Verständigung?

Wenn ein Elektrotechnik Ingenieur einem Laien die Regelungstechnik erklärt, so wird er kaum auf großes Verständnis stoßen. Wenn ein «Master in Conspiracy Theory» einem Tagesschauseher die Welt erklärt, wie wahrscheinlich ist es, dass hier Verständnis entsteht? Wenn jemand, der in 30 telegram Kanälen ca. 500 Artikel zu Covid-Ursprung, mRNA, Lipidnanopartikel und Ct-Wert beim PCR Test gelesen hat, der Verkäuferin bei REWE klarmachen will, dass Masken keinen Nutzen haben: wie hoch ist die Wahrscheinlichkeit, dass er Erfolg hat? Diese Beispiele sollen eines verdeutlichen: die Informationshintergründe sind inzwischen derart fundamental verschieden, dass kaum noch Verständigung gelingt. Der entscheidende Unterschied besteht darin, dass die Informationskompetenten beide Seiten der Medaille kennen, während der andere Teil der Bevölkerung nur die eine, die «offizielle» Seite kennt.

Was aber bewegt Menschen überhaupt dazu, immer tiefer zu recherchieren, um dabei das eigene Weltbild gezielt zu erweitern und anzupassen? Es ist – neben dem Wunsch nach mehr Gerechtigkeit – das Bedürfnis nach Sinnfindung in dieser Welt. Ein elementares Bedürfnis, das in der Rangliste unserer Motive sehr weit oben steht. Hierbei geht es nicht um den Lebenssinn – dazu kommen wir gleich – sondern um das Verständnis dessen, was uns als die «äußere Welt» präsentiert wird. Mit all ihren Verwerfungen, Ungerechtigkeiten, politischen Ideologien und so weiter. Denn es ist schließlich diese Welt, in der wir leben, in der wir uns zurechtfinden, in der wir unseren Lebensunterhalt verdienen müssen. Die spannende Frage ist also eher: Weshalb geben sich so viele mit der Oberfläche zufrieden?

Die Antwort ist erstaunlich einfach: aus Angst. Angst davor, das bisher als sicher geglaubte in Frage stellen zu müssen, den sicheren Boden des eigenen Weltbildes unter den Füßen zu verlieren. Deshalb stieg in den dunklen Covid-Jahren das Vertrauen in Politik und staatsnahe Medien massiv an. Denn wer mit einer – scheinbar – tödlichen Gefahr konfrontiert wird, der sucht in diesem Moment nicht nach neuen Informationsquellen, sondern bleibt bei dem, was man schon immer kannte – vor allem, wenn das auch die Mehrheit macht!

Das zweite Erwachen

Bei allem Bemühen, die Zusammenhänge dieser Welt zu verstehen, kommen viele an einen Punkt, an dem sie realisieren, dass sie erstens: Nie alles verstehen werden. Und zweitens: Dass es Wichtigeres gibt. Das mag überraschend klingen, aber genauso ist es. Das Leben selbst offenbart sich uns nicht am Bildschirm, nicht in Recherchen oder in immer weiterführenden Artikeln. Das Leben im Hier und Jetzt kann nur erfahren und gelebt werden. Das größte Hindernis dabei ist – unser Verstand. Also genau das «Organ», das uns immer weiter in die Tiefen der scheinbaren Realitätserkenntnis treibt ist zugleich verantwortlich dafür, dass wir uns vom Leben selbst entfernen. Welch merkwürdige Erkenntnis. Ist es überhaupt eine Erkenntnis oder nicht viel eher eine Behauptung? Genau an diesem Punkt geht es um ein zweites Erwachen! Nicht aus der polit-medialen Illusionsmatrix, sondern aus der Matrix unserer scheinbar rein materiellen Welt.

Ist dies eine Zwangsläufigkeit? Wohl kaum. Ist es notwendig? In gewisser Weise: ja. Denn nur der Abstand von dieser als ungerecht, grausam oder hoffnungslos empfundenen Welt befreit von Wut, Ohnmacht und Empörung. Im Artikel «Wachstum nach Innen» auf manova wird dieser Prozess ausführlicher beschrieben. Zitat:

«Heute leben wir zum ersten Mal in der Menschheitsgeschichte (!) in einer Epoche, in der es dem Einzelnen frei steht, seinen ganz eigenen Zugang zur Spiritualität zu suchen und zu finden. Es ist dies vielleicht die größte Herausforderung, der sich ein Mensch stellen kann!»

An diesem Punkt ist jeder auf sich selbst zurückgeworfen. Hier geht es nicht um Religionszugehörigkeit oder kirchliche Traditionen, sondern um authentische Erfahrungen.

Die Möglichkeit dieses zweiten «Erwachens», bringt ein Versprechen mit sich: wahrhafte Befreiung. Zum Beispiel von dem Wunsch, immer noch tiefer graben zu wollen. Oder stets andere überzeugen zu wollen. Oder sich überlegen zu fühlen. Es führt unweigerlich zu einer Relativierung: wem oder was gebe ich Bedeutung? Denn diese Freiheit kommt garantiert mit: die Freiheit, selbst Bedeutung verleihen zu können! Nicht mehr getrieben zu sein, viel öfter ein Wahl zu haben.

Sollte das wie ein Ausweichen oder gar Rückzug aus der Welt klingen, so wäre das ein Missverständnis. Es ist eine Veränderung des Standpunktes, des Fokus. Tatsächlich bringt es auch einen gewissen Abstand mit sich, zu dem was «da draußen» geschieht. Denn welche Erfahrungen der Einzelne auch selbst gemacht haben mag, wie auch immer er sie interpretiert: die Welt ist nicht mehr dieselbe.

Damit einher geht eine Veränderung der Gefühlswelt. Wo vorher vielfach Empörung, Ärger oder Wut vorherrschten kann mit dieser inneren Distanz vieles weniger emotional betrachtet werden. In der Dauerempörung liegt zwar einerseits Energie, um sich zu engagieren, zugleich liegt darin aber die große Gefahr, auszubrennen. Daniele Ganser, einer der ganz wichtigen Aufklärer unserer Zeit, bietet nicht umsonst seit Jahren Seminare zum Thema «Achtsamkeit» an. Dabei geht es vor allem um unsere innere Wahrnehmung, um einen Abstand zwischen «Ich» und meinem Gefühl oder Bedürfnis. Eine wichtige Voraussetzung, um aus der Spirale der Negativität zu entkommen. Denn diese Gefahr ist allgegenwärtig. Während Tagesschau & Co permanent Angst erzeugen vor Klima, Viren oder Putin, so wird in den «alternativen Medien» ähnliches geboten, nur mit anderem Vorzeichen. Die Bedrohung der mächtigen Organisationen WEF, UN, WHO, Nato, EU u. a., die Planung der Bargeldabschaffung, der digitalen ID, des persönlichen CO2-Budgets… Dies sind reale Vorhaben, keine Frage. Ob und wie sie jemals Realität werden kann aus heutiger Sicht jedoch niemand beantworten. Die Welt verändert sich derzeit schneller als seit Jahrzehnten. Und manche Sorgen bewahrheiten sich zum Glück nicht.

Der eigene Wirkungsbereich

Die ständige Beschäftigung mit diesen Bedrohungen bedroht vor allem eines: die eigene Lebensqualität. Wie kann man das Wahre, Schöne, Gute erkennen, wenn man sich tagein, tagaus mit Lüge, Verbrechern, Komplotten beschäftigt? Schwierig bis unmöglich.

«Ändere, was du ändern kannst, bleibe gelassen, bei allem was du nicht ändern kannst und lerne zeitlebens, das eine vom anderen zu unterscheiden».

Es ist eine der ältesten Lebensweisheiten, und doch ist sie so gültig wie eh und je. Die Herausforderung besteht gerade im Unterscheiden. Es geht um den eigenen Wirkungsbereich, denn dies ist der einzige Ort, wo tatsächlich etwas bewirkt werden kann. Wie groß der jeweils ist, das unterscheidet sich tatsächlich massiv. Zudem ist er nicht statisch. Es kann ein berechtigtes Ziel sein, diesen Bereich auszudehnen. Über Social Media, eigene Artikel, Diskussionsrunden, Demos, Events, Videos, was auch immer.

Natürlich geschieht das seit Jahren vielfach, einige Websites und Kanäle haben weit über 100.000 Leser oder Follower. Doch auch wenn die Reichweite größer wird, so steigt die Zufriedenheit nicht unbedingt in gleichem Maß. Denn stets muss man erkennen, dass die mit Milliarden finanzierten staatsnahen Medien beliebigen Schrott produzieren können und damit mehr Menschen erreichen, als die mit viel Herzblut erstellten eigenen Arbeiten. Und irgendwann stellt sich dann die Frage: «Was bringt das alles?» Oder, wie Gunnar Kaiser am Ende seiner bewundernswerten Tätigkeit: «Habe ich genug getan»?

Habe ich genug getan

Dies ist die Frage, auf die es keine Antwort gibt. Was wäre denn genug? Einen Menschen davor bewahrt zu haben, sich eine experimentelle Substanz injizieren zu lassen und damit mögliche Gesundheitsschäden zu erleiden? Wieso nicht. Hunderte Menschen zum Nachdenken gebracht, Tausenden Lesern ein Gefühl von «Ich-bin-nicht-allein» gegeben zu haben? Absolut! Hunderttausende Kommentare geben ein lebendiges Feedback, eine Bestätigung, dass man wertvolle Arbeit leistet. Es sind heute Millionen mehr, als zu Beginn der dunklen Pandemie-Jahre. Das ist der Wirkungskreis, den man sich erarbeitet hat, in dem ein Teil der Menschheitsfamilie eine geistige Heimat findet, fernab der permanenten Indoktrinationsversuche. Das ist es wert.

Und es gibt noch eine weitere positive Seite: man lernt Gleichgesinnte kennen und kann endlich über all das diskutieren, was man schon längst mit jemandem teilen wollte! Dies ist in keiner Weise sarkastisch gemeint, denn es ist elementar für jeden von uns, frei und offen sprechen zu können, ohne den Zensor im Kopf. Man lernt höchst interessante Menschen kennen - überall auf der Welt. Die man ohne Covid & Co niemals kennengelernt hätte. Vielleicht ergibt sich daraus das eine oder andere Projekt, das in die Zukunft weist? Auch das ist es wert.

Kläre die Menschen auf\ und Tyrannei und Unterdrückung \ von Körper und Geist werden verschwinden.\ Gerade so wie die bösen Geister\ wenn die Morgensonne ihre Strahlen sendet.

Thomas Jefferson

@ 523a8281:fc94329a

In the dynamic and rapidly evolving blockchain industry over the past decade, Gerald Check has become one of the most influential investors in the Web3 space, thanks to his visionary foresight and a series of successful strategic moves. From his role as an executive at global leading exchanges like Binance and MEXC, he transitioned into becoming the founder of the top investment firm, GC Capital. Gerald Check's career trajectory is essentially the evolution of Web3 capital power.

From Platform Executive to Industry Evangelist

Gerald Check previously served as the Strategic Vice President at Binance and Global Market Director at MEXC. During his time at these platforms, he witnessed and participated in the entire process of crypto assets, from early speculative hype to their gradual shift toward real-world industrial applications. Starting in 2020, he began to focus more on Web3 infrastructure development and early-stage project incubation, believing that the next trillion-dollar opportunity would emerge at the intersection of "deep value and real-world application scenarios."

"I don’t want to be just a decision-maker on the platform, I want to be the force that drives the industry forward," Gerald Check said in an interview. Driven by this philosophy, GC Capital was born. Unlike traditional investment banks, GC Capital positions itself as a "strategically-driven partnership capital" firm: it not only provides funding but also participates in projects with its team, ecosystem resources, and operational capabilities, becoming a long-term co-builder. "Capital should not just focus on returns, it should empower the team," emphasized Gerald Check. In its two years of existence, GC Capital has invested in and incubated dozens of early-stage Web3 projects across sectors such as DeFi, GameFi, AI, and RWA, all of which have achieved impressive results. Driving Hit Projects: The "Talent Scout’s Eye" Behind the Scenes

Perhaps the most representative project is MetaMars. This metaverse ecosystem project, co-incubated by GC Capital and M3 DAO, has seen its token MARS increase by more than 35 times since its launch, with a monthly surge of up to 400%, making it a classic example of combining Web3 community operation and product. "We started getting involved before the concept was fully formed, not just investing money but working alongside the team to refine the economic model and optimize the launch rhythm," Gerald mentioned. Additionally, GC Capital invested in the decentralized AI cloud gaming platform DeepLink. The project integrates AI, blockchain, and streaming, and has been dubbed "Steam+Teamviewer of the Web3 Era." M3 DAO then formed a strategic partnership to co-build a Web3 gaming experience ecosystem. Projects like Voopay, LoserChick, and Rocket have also seen explosive growth with GC Capital's support, validating the team's ability to identify and accelerate early-stage projects. Co-building with M3 DAO: From Investor to Core Ecosystem Member Among all the collaborations, the deep partnership between GC Capital and M3 DAO stands out. Gerald himself entered the M3 DAO core team as a co-CEO, driving the upgrades of infrastructures like MarsVerse and MarsChain. The two parties also jointly promoted the $200 million Phuket RWA Resort Project, marking the first realization of the "Web3+Gaming+Tourism" industry fusion model, injecting digital vitality into physical assets. "We aim not only to invest in the future on-chain but also to reconstruct off-chain economic models," said Gerald Check. Gerald Check’s Future Vision: Long-Termism and Global Layout

Gerald is working to expand GC Capital’s international presence. In the next three years, GC will establish regional incubation centers in Southeast Asia, the Middle East, and Europe and launch the "Web3 Global Investors Academy" to create a support system that integrates technology, capital, and community. At the same time, he is also looking for the next generation of Web3 entrepreneurs who are persistent, understand users, and are willing to co-build. "Web3 is not a speculative game, but an opportunity to reconstruct the order. We are willing to go through the cycles with great teams," this is one of Gerald Check’s most frequently quoted phrases. In this era of accelerating change, Gerald Check and GC Capital are gradually becoming an important bridge connecting capital with industry, imagination with reality. GC Capital official website: https://gc.capital/

@ 5627e59c:d484729e

In het hart van een gepensioneerde operazangeres ontstond een stemmetje. Het stemmetje klonk verrast. "He," ging het hart. "Ik heb een stemmetje gekregen! Hoe kan dit? Kan iemand me horen? Zouden mijn gedachten me kunnen horen?" vroeg het stemmetje, niet wetend aan wie. Want de gedachten hoorden het niet. Zij waren zo druk bezig met het verleden en hadden een grote angst dit te verliezen. "Weet je nog?" gingen de gedachten. "Voor duizenden mensen heb ik gezongen! Avond na avond! Tienduizenden mensen hebben me toegejuicht! Wat waren ze onder de indruk! Luister! Ik kan het nog steeds!" "He," ging het hart. "Hoor je me dan niet? Het ging toch helemaal niet om dat gejuich. Weet je dan niet meer hoe ik me volledig bloot gaf aan die mensen. Mijn diepste en meest persoonlijke verhalen waren te horen in mijn liederen. Daar draaide het toch om? De mensen waren niet enkel onder de indruk. Hun harten hebben mijn verhalen gevoeld en konden zo kennis geven aan hun gedachten. Is dat niet wat echt telde?" Maar de gedachten waren volop aan het zingen voor de ene persoon die ze konden vinden die wou luisteren. "He," ging het hart. "Ook in dit moment zijn mijn liederen te horen door vele gedachten en te voelen door vele harten over de hele wereld. Heb ik dan geen rust verdiend? Kan ik niet even genieten van de rust die in dit moment te vinden is, maar jullie van me afnemen?" Maar de gedachten waren nog steeds volop aan het zingen.

@ 472f440f:5669301e

Marty's Bent

via me

I think we'll look back at last weekend as one of the most pivotal points in human history. Ukraine's Operation Spider Web is one of the more shocking things I've seen in terms of military operations in my life. It validates something that many bitcoiners, many cypherpunks, and many prescient individuals have been talking about for decades now at this point, which is asymmetric drone warfare.

The Sovereign Individual is a book that many bitcoiners have talked about throughout the years due to how prescient it was in terms of the inevitable emergence of a digital currency outside the control of central banks and governments. The book was written in the mid-90s, so the fact that the two authors were able to predict that something like bitcoin would emerge less than 20 years after writing the book is pretty incredible. However, digital currencies leveraging cryptography were not the sole focus of the book. Another portion of the book was dedicated to the idea of asymmetric drone warfare and its effects on society overall.

It seems pretty clear today that this is another call from The Sovereign Individual that is coming true. Obviously, unless you've been living under a rock, you've noticed that Ukraine has been using drones in the battlefield to target strategic Russian assets and individual soldiers over the last year. The amount of battlefield videos I've seen of Russian soldiers running from autonomous drones that are hunting them down has been increasing significantly over the last six months. The footage is truly harrowing. It is a death that I wouldn't wish on anybody. With Operation Spider Web Ukraine has increased the stakes of this type of drone warfare by going deep into Russian territory and targeting strategic long-range bombers, some of which had the ability to deploy nuclear warheads. This is sure to incite a reaction from Russia. No one will be surprised if, by the end of the week, Russia has started a shock and awe campaign that goes deep into Ukrainian territory in retaliation for the kamikaze drone strikes on their long-range aircraft. I pray for peace and a quick resolution to this war, and every other war for that matter.

I didn't come here to pontificate and give my thoughts on this particular war, but I would like to focus on this new tactic of war and what it means for military budgets moving forward. The Sovereign Individual laid it out clearly when they wrote in the 1990s that at some point in the future autonomous drones would be leveraged in the battlefield and prove to be asymmetric because of the fact that they are extremely cheap to produce. When you compare the price it cost to produce one of these drones to the price of the equipment they are destroying, things get pretty crazy. With tens of thousands of dollars of drone equipment the Ukrainian army destroyed tens if not hundreds of millions of dollars worth of long-range missile aircraft. And it did so without putting any Ukrainian military personnel in harm's way. Directly, at least.

When you consider the return on investment of deploying these drones compared to sending in soldiers, tanks, and your own aircraft, it becomes pretty obvious that this is going to quickly become the most logical way to fight a war moving forward. The question that remains is how quickly do other governments recognize this and implement it into their own defense strategies? As an American looking at our military budget, which is quickly approaching $1 trillion in annual spend, I'm forced to question whether or not most of that money is simply being wasted, considering the fact that we live in a time where these asymmetric battlefield strategies now exist. Why build new fighter jets when a Somali pirate, or nefarious individual for that matter, could use a $200 drone to destroy it in a matter of seconds with no threat of direct physical harm?

I'm no military expert, but if I were at the helm of the Defense Department, I would seriously be forcing those below me to focus a ton of effort on this problem and create plans to make sure that we are sufficiently protected from these risks. The only way to protect from these risks is to build the capabilities yourself. When it comes to the risk reward from a defense tech investment perspective I think a majority of the effort should be focused on defensive drone technologies and capabilities.

With that being said, it does seem like the US military is privy to this asymmetric reality that we currently live in. Defense contracts with Andruil make this pretty clear. Andruil is certainly ahead of the curve when it comes to autonomous drone warfare and defense against it. As an American, even though I don't like war, or the military industrial complex, knowing that the military is working with companies like Andruil does give me some comfort. However, the other side of that coin is that it is very unnerving when you consider that the government creating these public-private partnerships could lead to some Orwellian outcomes here at home. It may make some of you feel uncomfortable, but I believe the ideal scenario is that any individual has access to these types of defensive drone technologies in the future. The end goal being to create a nuclear game theoretical outcome where violence is reduced because one always has to assume that anyone they intend to attack has access to sufficient and formidable defensive technologies.

It's truly scary times we're living in as we transition further into the Digital Age. Part of the reason that I've dedicated my whole life to bitcoin is because I truly do believe that if you fix the money, you can fix the world. That is not to say that kinetic wars or physical violence will not exist in the future. It certainly will. But I believe sound money and open access to these systems and tools creates conditions which are much more suitable for cooperation and less so for conflict.

Multi-Signature Bitcoin Custody Is Replacing Single-Point Solutions

Jesse Gilger made a compelling case for why multi-signature Bitcoin custody represents the future of secure storage. He explained how Gannett Trust's approach ensures "not all of the keys are going to be at any one entity," fundamentally reducing the honeypot risk that plagues centralized custodians. This distributed model means no single point of failure can compromise your Bitcoin, whether through hacking, internal fraud, or regulatory seizure.

"I was on the list. I got the email. 'You were affected.'" - Jesse Gilger

Jesse's firsthand experience with the Coinbase data breach drives home why centralized custody is fundamentally flawed. While Coinbase holds keys for 10 of 12 Bitcoin ETFs, smart money is moving toward multi-institutional setups where Gannett holds a key, Unchained holds a key, and a third party holds a key. This alignment with Bitcoin's decentralized ethos isn't just philosophically pure—it's pragmatically superior for protecting generational wealth.

Check out the full podcast here for more on MSTY risks, Bitcoin retirement strategies and nation-state adoption dynamics.

Headlines of the Day

MicroStrategy Copycats See Speculative Premiums Fade - via X

Square Tests Bitcoin Payments, Lightning Yields Beat DeFi - via X

Get our new STACK SATS hat - via tftcmerch.io

Bitfinex Moves $731M Bitcoin to Jack Mallers' Fund - via X

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Final thought...

Trying to imagine the future my children are going to live in gets harder by the day.

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@ cae03c48:2a7d6671

Bitcoin Magazine

Economic Bitcoin Nodes: Why You Need To Use Your Node For It To Matter

What is an economic node? To understand that, you need to first conceptually understand how a user interacts with the Bitcoin network in the first place. 

Bitcoin is a database, and a network to facilitate the updating and synchronization of updates to that database, used for the primary purpose of people transacting bitcoin (entries in the database). 

The primary concern of a user making use of Bitcoin for this purpose is the validity of the transactions sent to them, i.e. is the money they have received valid in the sense that when they go forward in the future to spend it somewhere else that other people will also widely accept it as valid. If that is not the case, then it is useless as money. 

This is the purpose of a node, to verify these transactions. In order to do so, your node must have a complete set of all the existing coins (Unspent Transaction Outputs, or UTXOs) in order to check every proposed transaction against. When a transaction is broadcast, your node verifies that the coins it is spending are in this “UTXO set”, meaning that they have not been spent yet. When that transaction is confirmed in a block, those individual UTXOs are then removed from the UTXO set, and the new ones created by that transaction are added. 

In order to compute that UTXO set in the first place, a node must parse through the entire historical record of all past transactions contained in the blockchain, going through the process of adding each newly mined UTXO to the set, and removing/adding all the consumed and newly created UTXOs processed in each individual block. 

Without doing this, there is no way to be certain that the current UTXO set stored in your node is actually accurate and valid (in the future Zero Knowledge Proofs could obviate the need for this by replacing the historical blockchain with a succinct cryptographic proof that any given UTXO set is valid for a specific blockheight). 

Your node is simply an agent for you as an economic actor, in the sense of automated AI agents that many LLM advocates speak about. It is an autonomous program acting on your behalf in a certain context, in this case guaranteeing the validity of bitcoin transactions to ensure that when you are the recipient of one, the chain of transactions that created the coin spent to you is valid. 

An economic node is simply a node that is actually being used by someone engaging in economic activity to ensure the validity of the coins they are receiving. 

Why is that so important? Why do only these nodes matter? 

Think about what makes Bitcoin function in the first place: people running the same consensus rules. The only reason there is a coherent singular Bitcoin network is because everyone is running the same consensus rules, when miners produce blocks, every individual node arrives at the same conclusion as to whether or not it is valid. Every individual node will follow whatever is the blockchain composed of valid blocks that has the most proof-of-work attached to it. 

There is only a singular coherent Bitcoin network because each individual actor chooses to enforce the same set of consensus rules against blocks that miners produce. It is purely voluntary association, voluntary subjugation of oneself to a certain set of consensus rules. 

So to illustrate the point, let’s imagine three different scenarios of nodes deviating from the existing set of rules. 

In the first scenario, imagine a few major exchanges like Kraken, Coinbase, etc. all alter their consensus rules from the rest of the network (softfork vs. hardfork are a distraction from the point, so we are going to ignore the distinction here). These nodes represent the economic platforms where bitcoin is traded, and its price established in fiat terms. Nodes running conflicting rules from them, or making transactions that will not be recognized as valid by their nodes to be more specific, now cannot engage in that market. 

Those exchanges’ nodes will not recognize user deposits as valid, and as such they will not be able to deposit coins and participate in those marketplaces. Other nodes can band together, but they cannot capture the economic power of those exchanges. Ultimately, short of the value of the coin created by the ruleset they are enforcing crashing to nothing, other nodes on the network will have no choice but to adopt their ruleset in order to interact with them. Otherwise the exchanges will simply ignore and honor honor deposits their nodes consider invalid. 

In the second scenario, let’s imagine a group of much smaller businesses and users that regularly receive transactions. Maybe all of them together amount to the economic activity of a single exchange like Coinbase. These users choosing to alter their consensus rules is not as inescapable as a number of large exchanges in concert, but it is still significant. 

Here, other users can still access marketplaces like exchanges to ensure that bitcoin is being priced by the market. The majority of the network will still accept everyone else’s coins in receipt for goods, or as deposits to trade on marketplaces. But they still represent a sizable portion of economic activity withdrawing from the rest of the network. This is leverage they can use. 

Even as a minority of the network, the likelihood is extremely high that there are significant levels of economic activity crossing between this minority of nodes and the rest of the network. This is not a clear case of leaving the rest of the network no option but to adopt the new rules, but it definitely creates pressure for large portions of the network who interact across that “gap.”

From there the more users that choose to cross the gap because of who they economically interact with, that pressure grows larger for the rest of the remaining network. 

In the last scenario, let’s imagine a group of nodes representing a small set of users generating very little or no economic activity at all. These users choose to alter their ruleset. They receive almost no payments, they represent a rounding error in terms of economic value on the network. 

They’re irrelevant to the rest of the network. Large businesses, exchanges, other economic actors, they will not care if a handful of people stop patronizing them or sending them bitcoin for different reasons. This set of nodes altering their consensus rules doesn’t matter. They create no pressure or opportunity cost that matters for the rest of the network. 

An economic node’s influence on the overall consensus of the Bitcoin network is proportional to the amount of economic activity involving that node/its owner. 

A node that is not being used for this purpose is completely irrelevant to the consensus rules of the Bitcoin network at large. It creates no economic pressure, imposes no opportunity cost, on the rest of the network when it alters its consensus rules. It is indistinguishable from a participant in a sybil attack. 

There might be other reasons to run a node besides verifying your own transactions, such as direct access to blockchain data for research or analysis purposes, but ultimately that node is irrelevant to consensus. 

This dynamic is why Bitcoin cannot be sybil attacked. It’s why some malicious actor can spin up a million nodes on Amazon Web Services running different consensus rules, and it will have zero effect on the actual Bitcoin network. 

Your node doesn’t matter, unless you use it. So use it. 

This post Economic Bitcoin Nodes: Why You Need To Use Your Node For It To Matter first appeared on Bitcoin Magazine and is written by Shinobi.

@ 6d5a8708:6b09ca5b

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Welche Chancen und Grenzen hat sie?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Vertiefungsphase. Er fördert die ethische Urteilsfähigkeit und die Auseinandersetzung mit verschiedenen Konfliktlösungsstrategien. Die Schülerinnen und Schüler lernen, die ethischen Aspekte von Krieg und Frieden zu reflektieren und die Bedeutung von Gewaltfreiheit zu diskutieren.", "url": "https://solus-christus.portacaeli.de/Export/LinkedDocuments/Es%20soll%20nicht%20durch%20Kraft%20oder%20Heer%20geschehen,%20sondern%20durch%20meinen%20Geist%20-%20Putins%20Ende%20(kein%20Atomkrieg).pdf", "inactive": false } ] }, { "id": "id-1748929970477-vfatuvu", "name": "Erkundung", "color": "color-gradient-2", "cards": [ { "id": "id-1749306532701-0hgtmbu", "heading": "Empathie entwickeln: Perspektivwechsel", "content": "Die Gebetspostkarten richten sich an ukrainische Geflüchtete, Haupt- und Ehrenamtliche in der Flüchtlingshilfe, Mitarbeitende in Kirche und Diakonie sowie Pastorinnen und Pastoren.\n\nAufgabe:\n\n1. Versetzt euch in die Lage eines ukrainischen Geflüchteten:\n * Welche Sorgen und Ängste hättet ihr?\n * Was würde euch Halt und Trost geben?\n2. Diskutiert: Wie können wir als Jugendliche Geflüchteten helfen und sie unterstützen?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungsphase. Er fördert die Empathiefähigkeit und die Bereitschaft zum Handeln. Die Schülerinnen und Schüler lernen, die Perspektive anderer Menschen einzunehmen und konkrete Möglichkeiten der Unterstützung zu entwickeln.", "url": "https://www.ekd.de/gebetspostkarten-fuer-ukrainische-gefluechtete-75156.htm", "inactive": false }, { "id": "id-1749306532701-6c4g37v", "heading": "Analyse der Gebetstexte: Klage und Segen", "content": "Die EKD bietet Gebetspostkarten für ukrainische Geflüchtete an, die ein Klagegebet sowie einen Segen und Zuspruch enthalten.\n\nAufgabe:\n\n1. Recherchiert: Sind die Gebetskarten online verfügbar? (Hinweis: Oftmals sind solche Materialien als PDF zum Download auf der Seite der EKD oder anderer kirchlicher Stellen zu finden). \n2. Analysiert die Texte des Klagegebets und des Segens:\n * Welche Gefühle und Bedürfnisse werden in den Gebeten ausgedrückt?\n * Welche Bilder und Symbole werden verwendet?\n * Inwiefern spiegeln die Gebete die Situation der Geflüchteten wider?\n3. Diskutiert: Welche Bedeutung haben Klage und Segen in Krisenzeiten?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungsphase. Er fördert die Textanalysekompetenz und die Auseinandersetzung mit religiösen Ausdrucksformen. Die Schülerinnen und Schüler lernen, die emotionalen und spirituellen Bedürfnisse von Menschen in Notlagen zu verstehen.", "url": "https://www.ekd.de/gebetspostkarten-fuer-ukrainische-gefluechtete-75156.htm", "inactive": false }, { "id": "id-1749306532701-e1iysfj", "heading": "Die Kirchen: Ökumene und religiöse Begründung des Krieges", "content": "Der Artikel beleuchtet die Rolle der Kirchen im Ukraine-Krieg, insbesondere die Haltung des russisch-orthodoxen Patriarchen Kyrill I.\n\nAufgabe:\n\n1. Welche Rolle spielt Patriarch Kyrill I. im Ukraine-Krieg?\n2. Inwiefern liefert er pseudo-religiöse Begründungen für den Krieg?\n3. Diskutiert: Dürfen religiöse Führer Kriege rechtfertigen? Welche Verantwortung haben religiöse Institutionen in Konflikten?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungs- oder Vertiefungsphase. Er fördert die Auseinandersetzung mit der Rolle von Religion in Konflikten. Die Schülerinnen und Schüler lernen, religiöse Aussagen kritisch zu hinterfragen und die Verantwortung religiöser Institutionen zu reflektieren.", "url": "https://www.pro-medienmagazin.de/500-tage-krieg-die-welt-ist-eine-andere/", "inactive": false }, { "id": "id-1749306532701-rubfx75", "heading": "Linksammlung sichten und Schwerpunkte setzen", "content": "Diese Seite ist eine Sammlung von Links, Materialien und Literaturtipps zum Thema Krieg und Frieden, insbesondere im Kontext der aktuellen Konflikte in der Ukraine und Israel.\n\nAufgabe:\n\n1. Sichtet die verschiedenen Kategorien und Angebote auf der Seite.\n2. Welche Bereiche erscheinen euch besonders relevant für die Fragestellung: Rolle religiöser Institutionen und Akteure im Ukraine-Krieg?\n3. Wählt 2-3 Links aus, die ihr genauer erkunden möchtet. Begründet eure Wahl.", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich gut für die Erkundungsphase. Er fördert die Fähigkeit zur Informationsrecherche und -bewertung. Die Schülerinnen und Schüler lernen, sich in einem umfangreichen Angebot zu orientieren und relevante Materialien auszuwählen.", "url": "https://irp-freiburg.de/service/materialien-zu-krieg-und-frieden/", "inactive": false } ] }, { "id": "id-1748929970477-4kjy2y0", "name": "Erarbeitung", "color": "color-gradient-3", "cards": [ { "id": "id-1749306532701-7wtnefd", "heading": "Analyse der Kriegslügen und der nationalen Identität", "content": "Der Artikel thematisiert die russische Kriegslüge, dass die Ukraine eigentlich gar nicht existiere und die Stärkung der nationalen Identität der Ukrainer durch den Krieg.\n\nAufgabe:\n\n1. Was bedeutet die Aussage, dass die größte russische Kriegslüge in den ersten Kriegstagen verpufft ist?\n2. Wie hat der Krieg die nationale Identität der Ukrainer beeinflusst?\n3. Diskutiert: Welche Rolle spielen Lügen und Propaganda in Kriegen? Nennt Beispiele aus anderen Konflikten.", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungsphase. Er fördert die Medienkompetenz und die Fähigkeit zur kritischen Auseinandersetzung mit Informationen. Die Schülerinnen und Schüler lernen, Propaganda zu erkennen und die Bedeutung von nationaler Identität in Konflikten zu verstehen.", "url": "https://www.pro-medienmagazin.de/500-tage-krieg-die-welt-ist-eine-andere/", "inactive": false }, { "id": "id-1749306532701-xknl2vk", "heading": "Kreativer Zugang: Psalmwerkstatt", "content": "Die Schülerinnen setzen sich kreativ (z.B. durch das Malen von Bildern, Standbildern, Kneten von Figuren, Gestalten mit Lego oder Playmobil Figuren) mit Psalmversen auseinander und reflektieren ihre Ergebnisse in Kleingruppen (Psalmwerkstatt).\n\nAufgabe:\n\n1. Wählt einen Psalmvers aus, der euch besonders anspricht (z.B. Ps 13,2-3; Ps 17, 11-12; Ps 21,9-10; Ps 54,5; Ps 59,7). \n2. Gestaltet diesen Vers mit verschiedenen Materialien (Farben, Knete, Lego, Playmobil etc.).\n3. Präsentiert eure Ergebnisse in Kleingruppen und erklärt, was ihr darstellen wolltet.", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich gut für die Einstiegsphase. Er ermöglicht einen kreativen und spielerischen Zugang zum Thema und fördert die emotionale Auseinandersetzung mit den Psalmtexten. Die Schülerinnen und Schüler können ihre Gefühle und Gedanken nonverbal ausdrücken.", "url": "https://www.lehrer-online.de/unterricht/sekundarstufen/geisteswissenschaften/politik-sowi/artikel/fa/fluchterfahren-lehrmaterial-zu-flucht-migration-und-ankommen/", "inactive": false }, { "id": "id-1749306532701-77qk4kt", "heading": "Eigene Klagepsalmen verfassen: Ausdruck der eigenen Gefühle", "content": "Die Schülerinnen schreiben eigene Klagepsalmen, um ihre Nöte, Ängste etc. in Worte zu fassen. Dafür bekommen sie eine Mappe mit einem Psalmenbuch, in das sie eigene Psalmen schreiben können. Sie können sich an den Elementen von Klagepsalmen orientieren, aber auch nur manche Elemente benutzen und sie in eine für sich passende Reihenfolge bringen.", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungs- oder Vertiefungsphase. Er fördert die Ausdrucksfähigkeit und die Auseinandersetzung mit den eigenen Gefühlen. Die Schülerinnen und Schüler lernen, ihre Emotionen in Worte zu fassen und sich mit ihren Ängsten und Sorgen auseinanderzusetzen. Beispielhafte Aufgabe: Gebt den Schülerinnen eine Strukturierungshilfe mit den Elementen von Klagepsalmen und lasst sie einen eigenen Psalm verfassen, der sich auf die aktuelle Situation in der Ukraine oder andere Gewalterfahrungen bezieht.", "url": "https://www.lehrer-online.de/unterricht/sekundarstufen/geisteswissenschaften/politik-sowi/artikel/fa/fluchterfahren-lehrmaterial-zu-flucht-migration-und-ankommen/", "inactive": false }, { "id": "id-1749306532701-uwxq0or", "heading": "Psalm-Elemente analysieren: Puzzlearbeit", "content": "Die Schülerinnen arbeiten an den verschiedenen Elementen eines Psalms (Anrede/Hilferuf – Klage – Vertrauensäußerung/Erinnerung an erfahrene Hilfe – Bitte – Lob/neue Hoffnung).", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungsphase. Er fördert die analytische Kompetenz und das Textverständnis. Die Schülerinnen und Schüler lernen, die Struktur von Klagepsalmen zu erkennen und die Bedeutung der einzelnen Elemente zu verstehen. Beispielhafte Aufgabe: Zerschneidet einen Klagepsalm in einzelne Verse oder Satzteile. Die Schülerinnen ordnen die Teile den verschiedenen Elementen zu und begründen ihre Entscheidung.", "url": "https://www.lehrer-online.de/unterricht/sekundarstufen/geisteswissenschaften/politik-sowi/artikel/fa/fluchterfahren-lehrmaterial-zu-flucht-migration-und-ankommen/", "inactive": false }, { "id": "id-1749306532701-1scyjhb", "heading": "Deutschland: Zeitenwende und Pazifismus", "content": "Der Artikel thematisiert die \"Zeitenwende\" in Deutschland und die veränderte Haltung zu Waffenlieferungen und militärischer Unterstützung.\n\nAufgabe:\n\n1. Was bedeutet die \"Zeitenwende\" in Bezug auf die deutsche Außen- und Sicherheitspolitik?\n2. Wie hat sich die Haltung der deutschen Bevölkerung zu Waffenlieferungen an die Ukraine verändert?\n3. Diskutiert: Ist Waffenlieferung ein Beitrag zum Frieden? Welche ethischen Argumente gibt es für und gegen Waffenlieferungen?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungs- oder Vertiefungsphase. Er fördert die Auseinandersetzung mit aktuellen politischen Fragen und ethischen Dilemmata. Die Schülerinnen und Schüler lernen, verschiedene Positionen zu verstehen und ihre eigene Meinung zu bilden.", "url": "https://www.pro-medienmagazin.de/500-tage-krieg-die-welt-ist-eine-andere/", "inactive": false } ] }, { "id": "id-1749306663326-2qyx4bh", "name": "Vertiefung", "color": "color-gradient-4", "cards": [ { "id": "id-1749306532701-ifcnizf", "heading": "Gebet als Ausdruck von Solidarität", "content": "Die Gebetspostkarten sind zweisprachig (Ukrainisch und Deutsch), um gemeinsames Gebet zu ermöglichen.\n\nAufgabe:\n\n1. Diskutiert: Welche Bedeutung hat Gebet in verschiedenen Religionen und Kulturen?\n2. Inwiefern kann Gebet ein Ausdruck von Solidarität sein?\n3. Formuliert eigene Gebete oder Fürbitten für die Menschen in der Ukraine.", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Vertiefungsphase. Er fördert die interreligiöse Kompetenz und die Auseinandersetzung mit der Bedeutung von Gebet und Spiritualität. Die Schülerinnen und Schüler lernen, Gebet als Ausdruck von Verbundenheit und Mitgefühl zu verstehen.", "url": "https://www.ekd.de/gebetspostkarten-fuer-ukrainische-gefluechtete-75156.htm", "inactive": false }, { "id": "id-1749306532701-kci172u", "heading": "Nächstenliebe und globale Solidarität: Christliche Werte im Konflikt", "content": "Das Dokument fordert globale Solidarität und Nächstenliebe im Kontext des Ukraine-Krieges.\n\nAufgabe:\n\n1. Inwiefern sind Nächstenliebe und Solidarität christliche Werte?\n2. Wie können diese Werte im Konflikt mit Russland konkret gelebt werden?\n3. Diskutiert: Welche Verantwortung haben Christinnen und Christen in Kriegszeiten?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Vertiefungsphase. Er fördert die Auseinandersetzung mit christlichen Werten und deren Bedeutung für das Handeln in der Welt. Die Schülerinnen und Schüler lernen, ihre eigene Verantwortung als Christinnen und Christen in Konfliktsituationen zu reflektieren.", "url": "https://solus-christus.portacaeli.de/Export/LinkedDocuments/Es%20soll%20nicht%20durch%20Kraft%20oder%20Heer%20geschehen,%20sondern%20durch%20meinen%20Geist%20-%20Putins%20Ende%20(kein%20Atomkrieg).pdf", "inactive": false }, { "id": "id-1749306532701-utjyeix", "heading": "Russland: Machtsystem und Moral", "content": "Der Artikel beschreibt, wie sich Russland zu einer Diktatur entwickelt hat und wie das Machtsystem Putins wankt.\n\nAufgabe:\n\n1. Welche Beispiele werden im Artikel genannt, um die Entwicklung Russlands zu einer Diktatur zu belegen?\n2. Inwiefern wankt das Machtsystem Putins?\n3. Diskutiert: Welche Rolle spielen moralische Werte in der Politik? Welche Konsequenzen hat es, wenn diese Werte verletzt werden?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Vertiefungsphase. Er fördert die politische Urteilsfähigkeit und die Auseinandersetzung mit ethischen Fragen. Die Schülerinnen und Schüler lernen, politische Systeme zu analysieren und die Bedeutung von Moral in der Politik zu reflektieren.", "url": "https://www.pro-medienmagazin.de/500-tage-krieg-die-welt-ist-eine-andere/", "inactive": false }, { "id": "id-1749306532701-34ytvcy", "heading": "Klare Kante gegen Antisemitismus: Eine Analyse", "content": "Die Seite verweist auf einen Artikel zum Thema Antisemitismus im Kontext aktueller Konflikte:\nKlare Kante gegen Antisemitismus: irp.aktuell 25\n\nAufgabe:*\n\n1. Lest den verlinkten Artikel.\n2. Welche Formen von Antisemitismus werden im Zusammenhang mit dem Nahostkonflikt thematisiert?\n3. Inwiefern ist das Thema Antisemitismus auch im Kontext des Ukraine-Krieges relevant?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungs- oder Vertiefungsphase. Er fördert die Auseinandersetzung mit einem komplexen Thema und sensibilisiert für die Gefahren von Antisemitismus. Die Schülerinnen und Schüler lernen, verschiedene Perspektiven einzunehmen und Zusammenhänge zu erkennen.", "url": "https://irp-freiburg.de/service/materialien-zu-krieg-und-frieden/detail/nachricht/id/195407-klare-kante-gegen-antisemitismus-irp-aktuell-25/?cb-id=12356664", "inactive": false } ] } ], "aiConfig": { "provider": "", "apiKey": "", "model": "", "baseUrl": "" }, "exportDate": "2025-06-12T10:33:21.789Z", "nostrEvent": true }

@ 5627e59c:d484729e

Liefde\ De samenkomst\ Van zien en zijn

Leven\ Het zijn en zien\ Een vorm gekregen

Sterven\ Een deur\ Die vrijheid geeft van vorm

En eeuwig leven\ Aan liefde

@ 523a8281:fc94329a

MetaMars has rapidly established itself as a standout project in the 2025 cryptocurrency market, with its $MARS token soaring over 3000%, driven by a visionary Mars-themed metaverse narrative, sophisticated tokenomics, a strong community, and strategic KOL partnerships led by M3 DAO. This momentum has now expanded into the Japanese market following successes in India, Russia, Vietnam, Turkey, and Germany, where top influencers with million-strong followings in cryptocurrency, technology, and finance have joined MetaMars’ “Builders Alliance.” Their expert insights and dynamic multi-platform promotional efforts have injected unparalleled energy into the MetaMars ecosystem, fueling explosive growth and deep community engagement. Celebrated as “The Web3 Metaverse of the Future,” this campaign has already surpassed 200,000 views, underscoring its powerful resonance and expanding influence.

The Strategic Decision to Enter Japan: A Market Analysis Japan’s cryptocurrency and metaverse landscape presents a unique opportunity. Crypto adoption has surged to 34% of the population in 2025, with over 15 million active users, making Japan a top-five global market by daily trading volume. Major exchanges like Bitflyer and Coincheck handle over $1.2 billion weekly, supported by clear regulations such as the Payment Services Act and FSA-approved frameworks that ensure stability for users and investors.

The metaverse sector is equally promising, projected to reach ¥16 trillion ($110 billion) by 2026. According to a 2025 Dentsu Research report, 62% of Japanese crypto holders are interested in metaverse projects, especially virtual land, NFTs, and blockchain gaming. This cultural affinity, combined with a tech-savvy population, creates an ideal environment for MetaMars’ Mars-themed universe.

From Grassroots to Grand Scale: The Catalyst for Mass Promotion While MetaMars began community building in Japan in 2024, the current phase marks a strategic pivot toward large-scale promotion designed to empower the local ecosystem—an effort undertaken closely with M3 DAO. This collaboration focuses on deepening community engagement through multifaceted support: educational programs, mentorship from local thought leaders, localized learning resources, and KOL-led offline events. M3 DAO’s expertise in DAO governance and community operations complements MetaMars’ metaverse infrastructure, creating synergy that fuels sustained growth.

This approach prioritizes organic development over mere expansion. Weekly Web3 education sessions in Japanese, hosted by M3 DAO’s regional ambassadors, guide users through blockchain fundamentals and $MARS token utilities. Local leaders—curated from early adopters and industry veterans—offer one-on-one mentorship, while a comprehensive library of video tutorials, infographics, and case studies (translated by native speakers) ensures accessible knowledge. KOLs play the role of "ecological architects" here, participating in the planning of local Tokyo metaverse workshops, NFT creation challenges and other activities, with their influence covering content creation, community operation and even the formulation of ecological development roadmaps.

Conclusion: Embracing the Japanese Cultural Metaverse Revolution As MetaMars deepens its roots in Japan, the project embarks on a transformative journey that fuses cultural heritage with cutting-edge metaverse technology. In collaboration with M3 DAO, the initiative focuses on crafting immersive experiences that resonate locally—from anime-inspired NFT collections co-created with Japanese gaming studios to digital renditions of cultural landmarks, where KOLs and community members serve as digital guides and content architects. These collaborations extend beyond aesthetics: Japanese KOLs involved in the MetaMars DAO lead beta testing for new features, ensuring technological advancements—from blockchain governance tools to payment integrations—align with user needs.

In the coming months, KOLs will spearhead "metaverse labs," inviting fans to co-design virtual festivals, traditional art exhibitions, and interactive storytelling experiences within the Mars ecosystem. Leveraging M3 DAO’s community-building expertise and local KOLs’ cultural translation capabilities, MetaMars aims not only to expand its user base but to nurture a metaverse ecosystem where Japanese digital culture thrives. This serves as a pivot to pave the way for similar initiatives in markets like South Korea and Taiwan. The Martian landscape is evolving into a vibrant canvas for cultural innovation, inviting every user, KOL, and creator to become both planners and builders of this new digital frontier.

@ 5627e59c:d484729e

I am the space\ In which your experience takes place

You could never meet me\ For I hold no identity

The only way to really see me\ Is to be me

@ 472f440f:5669301e

Marty's Bent

Sorry for the lack of writing over the last week. As many of you may already know, I was in Las Vegas, Nevada for the Bitcoin 2025 conference. It was my first time in Las Vegas. I had successfully avoided Sin City for the first 34 years of my life. But when duty calls, you have to make some personal concessions.

Despite what many say about this particular conference and the spectacle that it has become, I will say that having attended every single one of Bitcoin Magazine's conferences since 2019, I thoroughly enjoy these events, even if I don't agree with all the content. Being able to congregate with others in the industry who have been working extremely hard to push Bitcoin forward, all of whom I view as kindred spirits who have also dedicated their lives to making the world a better place. There's nothing better than getting together, seeing each other in person, shaking hands, giving hugs, catching up and reflecting on how much things have changed over the years while also focusing on the opportunities that lie ahead.

I think out of all the Bitcoin magazine conferences I've been to, this was certainly my favorite. If only because it has become abundantly clear that Bitcoin is here to stay. Many powerful, influential, and competent people have identified Bitcoin as an asset and monetary network that will play a large part in human society moving forward. And more importantly, Bitcoin is proving to work far better than anybody not paying attention expected. While at the same time, the fiat system is in woeful disrepair at the same time.

As a matter of reflection and surfacing signal for you freaks, here are the presentations and things that happened that I think were the most impactful.

Miles Suter's Block Presentation

https://youtu.be/iUXomXuXcuA

This presentation was awesome for many reasons, one of which being that we often forget just how dedicated Block, as an organization with many companies - including Cash App, Square, the open source organization known as Spiral and more recently, BitKey and Proto - has been to bitcoin over the last eight years. They've worked methodically to make Bitcoin a first-class citizen in their business operations and slowly but surely have built an incredibly integrated experience across their brands. The two big announcements from Block during the conference were the enablement of Bitcoin payments in Square point-of-sale systems and the amount of revenue they're making on their Lightning node, c=, from routing payments.

Right now, the Bitcoin payments and point of sale systems is in beta with many merchants testing it out for the next six months, but it will be available for all 4 million square merchants in 2026. This is something that many bitcoiners have been waiting for for many years now, and it is incredible to see that they finally brought it across the line. Merchants will have the ability to accept bitcoin payments and either convert every payment into fiat automatically, convert a portion of the bitcoin payment into fiat to keep the rest in sats, or simply keep all of the bitcoin they receive via payments in sats. This is an incredible addition to what Square has already built, which is the ability of their merchants to sweep a portion of their revenues into bitcoin if they desire. Square is focused on building a vertically integrated suite of bitcoin products for merchants that includes the ability to buy bitcoin, receive bitcoin, and eventually leverage financial services using bitcoin as collateral so that they can reinvest in and expand their businesses.

via Ryan Gentry

What went a bit underappreciated in the crowd was the routing node revenue that c= is producing, \~9.7% annualized. This is a massive validation of something that many bitcoiners have been talking about for quite some time, which is the ability to produce "yield" on bitcoin in a way that reduces risk significantly. Locking up bitcoin in a 2-of-2 multisig within Lightning channels and operating a Lightning routing node has been long talked about as one of the ways to produce more bitcoin with your bitcoin in a way that minimizes the threat of loss.

It seems that c= has found a way to do this at scale and is doing it successfully. 10% yield on bitcoin locked in Lightning channels is nothing to joke about. And as you can see from the chart above in the grainy picture taken by Ryan Gentry of Lightning Labs, this routing node "yield" is producing more return on capital than many of the most popular staking and DeFi protocols.

This is a strong signal to the rest of the market that this can be done. It may take economies of scale and a high degree of technical competency today. But this is incredibly promising for the future of earning bitcoin by providing valuable goods and services to the market of Bitcoiners. In this case, facilitating relatively cheap and instantly settled payments over the Lightning Network.

Saifedean Ammous' Bitcoin and Tether Presentation

https://youtu.be/SFUiGTayVL8

This was one of the best presentations at the conference. Saifedean Ammous is a friend, he has been an incredible influence on my personal bitcoin journey, and I feel comfortable in saying he's been a strong influence on the journey of hundreds of thousands, at least, if not millions of people as they've attempted to understand bitcoin.

This presentation is a bit spicy because it puts a pin in the balloon of hopium that stablecoins like Tether are mechanisms that could bail out the market for US Treasuries in the medium to long-term if they take enough market share. As one always should do, Saif ran the numbers and clearly illustrates that even in the most optimistic case, Tether's impact on the market for treasuries, their interest rates, and curbing the growth of the debt held by the US federal government will be minimal at best.

One of the most interesting things that Saif points out that I'm a bit embarrassed I didn't recognize before is that much of the demand for Tether that we're seeing these days is replacement demand for treasuries. Meaning that many people who are turning to Tether, particularly in countries that have experienced hyperinflationary events, are using Tether as a substitute for their currencies, which are operated by central banks likely buying U.S. treasuries to support their monetary systems. The net effect of Tether buying those treasuries is zero for this particular user archetype.

Saif goes on to explain that if anything, Tether is a weapon against the US Treasury system when you consider that they're storing a large portion of the stablecoin backing in Treasuries and then using the yields produced by those Treasuries to buy bitcoin. Slowly but surely over time bitcoin as a percentage of their overall backing of Tether has grown quite significantly starting at 0% and approaching 10% today. It isn't hard to imagine that at some point within the next decade, Bitcoin could be the dominant reserve asset backing tethers and, as a result, Tether could be pegged to bitcoin eventually.

It's a fascinating take on Tether that I've never heard before.

Nothing Stops this Train from Lyn Alden

https://youtu.be/Giuzcd4oxIk

Lyn's been saying it loudly for quite some time now; "Nothing stops this train." She's even been on our podcast to explain why she believes this many times over the last five years. However, I don't think there is one piece of content out there that consolidates her thesis of why nothing stops the train of fiscal irresponsibility and unfettered debt expansion and why that's good for bitcoin than the presentation she gave at the conference. Definitely give this one a watch when you get a chance if you haven't already.

Overall, it was a great week in Vegas and I think it's safe to say that bitcoin has gone mainstream. Whether or not people who have been in the bitcoin industry and community for a while are okay with does not really matter. It's happening and all we can do is ride the wave as more and more people come to recognize the value prop of bitcoin and the social clout they can gain from supporting it. Our job here at TFTC is to help you discern the signal from the noise, continue to champion the self-sovereign usage of bitcoin and keep you abreast of developments in the space as they manifest.

Buckle up. Things are only going to get weirder from here on out.

Bitcoin's Mathematical Destiny

Sean Bill and Adam Back make a compelling case for Bitcoin's inevitable march toward $1 million. Sean points out that Bitcoin represents just a tiny fraction—2 trillion out of 900 trillion—of total financial assets, calling it a "tiny orange dot" on their presentation to Texas pensions. He emphasizes that reaching parity with gold alone would deliver a 10x return from current levels. Adam highlights the mathematical impossibility of current prices, noting that ETF buyers are absorbing 500,000 BTC annually while only 165,000 new coins are mined.

"Who's selling at these prices? It doesn't quite add up to me." - Adam Back

The institutional wave is just beginning. Sean revealed that while 50% of hedge fund managers personally own Bitcoin, only 3% have allocated institutional funds. Combined with emerging demand from nation states and corporate treasuries meeting Bitcoin's fixed supply, the price trajectory seems clear. Both guests stressed the importance of staying invested—missing just the 12 best performing days each year would turn Bitcoin into a losing investment.

Check out the full podcast here for more on pensions allocating to Bitcoin, cypherpunk banking, and commodity trading insights.

Headlines of the Day

Panama Canal Eyes Bitcoin for Payment Option - via X

U.S. Warns of Imminent Chinese Threat to Taiwan - via X

Get our new STACK SATS hat - via tftcmerch.io

Saylor's Bitcoin Strategy Explodes Globally Amid Doubt - via CNBC

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Final thought...

Moving is the least fun part of the human experience.

---

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@ cae03c48:2a7d6671

Bitcoin Magazine

Paul Tudor Jones: Bitcoin, Gold, Stocks Are The Best Portfolio To Fight Inflation

The Co-Chairman and CIO of Tudor Investment Corp., Paul Tudor Jones, recently appeared in a Bloomberg interview where he outlined what he sees as the best portfolio to fight against inflation.

JUST IN: Billionaire Paul Tudor Jones said Bitcoin, gold, and stocks are the "best portfolio to fight inflation." pic.twitter.com/rgvVyacRtx

— Bitcoin Magazine (@BitcoinMagazine) June 11, 2025

“What would an ideal portfolio be… What has worked so far has been some combinations of stocks, which won’t do great, which would do terribly if we ever actually had,” Jones said. “If they called us out and the bond market actually gave us an accident that then spilled over. But it would be some kind of combination of probably gold, vol adjusted, Bitcoin, gold, stocks. That’s probably your best portfolio to fight inflation. Vol adjusted because the vol of Bitcoin obviously is five times that of gold, so you’re going to do it in different ways.”

Jones highlighted the need to balance volatility, especially when combining assets like Bitcoin and gold. He suggested this kind of mix, adjusted for risk, gives investors the strongest defense against inflation’s impact.

When asked if he would allocate 1 or 2 percent of his portfolio to Bitcoin, Jones explained the bigger picture behind why he sees value in it.

“Particularly now, that the road map is clear… Again, if I am a policymaker,” stated Jones. “I’m going to run really low real rates. I am going to have inflation running hot and I am gonna tax the American Consumer to get out of my debt trap, and that’s exactly what Japan, who’s the most fiscally constrained in the world, is doing. And it works until the population throws you out because you let the inflation get too hot. So maybe you’re in a world with three and a half percent inflation and two and a half percent overnight rate and you are kind of trying to run hot and grow your way out of it.”

Yesterday, also in an interview with Bloomberg, the Executive Chairman and CEO of Strategy Michael Saylor commented about the future of Bitcoin as well.

“Winter is not coming back,” commented Sayor. “We are past that phase. If Bitcoin is not going to zero, it is going to $1 million. The President of the United States is determined. He supports Bitcoin, the cabinet supports Bitcoin, Scott Bessent supports Bitcoin, Paul Atkins is shown himself to be an enthusiastic believer of Bitcoin and digital assets… Bitcoin has gotten through its riskiest period.”

This post Paul Tudor Jones: Bitcoin, Gold, Stocks Are The Best Portfolio To Fight Inflation first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

@ 5627e59c:d484729e

Love, I thank you for your warmth\ Ever lifting

You keep me charmed\ Ever drifting

May I be me\ And you be you

In a perfect harmony\ Embracing all life makes us grow through

@ 5627e59c:d484729e

Jaren tellen\ Hoeft voor mij niet

Verhalen vertellen\ Over geluk en verdriet

Een warme haven\ Veilig en fijn

Dromen voorgedragen\ Onschuldig en rein

Momenten ervaard, geleerd\ En geïntegreerd

Ideeën, geloven en gevoelens\ Gevormd en gecreëerd

Zonder eind of echt begin\ Vallen, groeien, leren, stoeien

Een gezin in een gezin met een gezin erin\ Gezind gericht blijft liefde vloeien

@ 04c915da:3dfbecc9

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

Part One: 2029–2032

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

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

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

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

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

Time Jump: 2032–2047

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

Part Two: 2047

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

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

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

Key Differences

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

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

@ 5627e59c:d484729e

The world around me\ Is assumed to be

Through sensory observations\ This appears to me

What I experience\ Is for me

But the ultimate experience\ Is for me\ To be

@ ea39b0da:29a1710d

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@ ea39b0da:29a1710d

{"id":"note_1749720512635_tme5sd698","title":"Do something that scares you every single day","content":"Take up to a challenge that is something that you have not done before","color":"#ccff90","tags":[],"sharedWith":[],"updatedAt":1749720527666,"version":2,"versions":[{"content":"Take up to a challenge that is something that you have not done before","title":"Do something that scares you every single day","color":"#fff475","tags":[],"sharedWith":[],"updatedAt":1749720512635,"version":1,"checkboxes":[],"images":[]}],"checkboxes":[],"images":[],"isPinned":true}

@ f6f1b59a:1750cb42

{ "id": "id-1748929970477-uou9np2", "name": "TestBoard 3", "description": "", "authors": [ "User" ], "summary": "", "backgroundColor": "#f5f7fa", "customStyle": "", "columns": [ { "id": "id-1749306532701-2q5mris", "name": "Materialien", "color": "color-gradient-6", "cards": [ { "id": "id-1749306532701-69bywt8", "heading": "Biblische Impulse und aktuelle Konflikte: Sacharja 4,6", "content": "Das Dokument nimmt Bezug auf das Bibelwort Sacharja 4,6: „Es soll nicht durch Heer oder Kraft geschehen, sondern durch meinen Geist, spricht der Herr der Heerscharen“ und stellt es in den Kontext des russisch-ukrainischen Krieges.\n\nAufgabe:\n\n1. Lest den Bibeltext Sacharja 4,6 im Zusammenhang.\n2. Was bedeutet das Wort „Geist“ in diesem Kontext?\n3. Inwiefern kann dieses Bibelwort als Aufruf zu einer geistlichen Strategie im Konflikt mit Russland verstanden werden?\n4. Diskutiert: Welche Rolle spielen Glaube und Spiritualität in politischen Konflikten?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungsphase. Er fördert die Bibelkompetenz und die Fähigkeit zur Interpretation religiöser Texte. Die Schülerinnen und Schüler lernen, biblische Botschaften auf aktuelle Situationen zu beziehen und die Rolle des Glaubens in Konflikten zu reflektieren.", "url": "https://solus-christus.portacaeli.de/Export/LinkedDocuments/Es%20soll%20nicht%20durch%20Kraft%20oder%20Heer%20geschehen,%20sondern%20durch%20meinen%20Geist%20-%20Putins%20Ende%20(kein%20Atomkrieg).pdf", "inactive": false }, { "id": "id-1749306532701-1ccu76c", "heading": "Strategien gegen Angst: Moralische Überlegenheit statt militärischer Gewalt?", "content": "Das Dokument plädiert für eine geistliche Strategie, um Putins Drohungen mit Angst und moralischer Überlegenheit zu begegnen und warnt vor militärischer Gewalt.\n\nAufgabe:\n\n1. Welche Argumente werden im Text gegen militärische Gewalt vorgebracht?\n2. Was bedeutet „moralische Überlegenheit“ in diesem Zusammenhang?\n3. Diskutiert: Ist eine geistliche Strategie im Angesicht von Krieg und Gewalt realistisch? Welche Chancen und Grenzen hat sie?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Vertiefungsphase. Er fördert die ethische Urteilsfähigkeit und die Auseinandersetzung mit verschiedenen Konfliktlösungsstrategien. Die Schülerinnen und Schüler lernen, die ethischen Aspekte von Krieg und Frieden zu reflektieren und die Bedeutung von Gewaltfreiheit zu diskutieren.", "url": "https://solus-christus.portacaeli.de/Export/LinkedDocuments/Es%20soll%20nicht%20durch%20Kraft%20oder%20Heer%20geschehen,%20sondern%20durch%20meinen%20Geist%20-%20Putins%20Ende%20(kein%20Atomkrieg).pdf", "inactive": false } ] }, { "id": "id-1748929970477-vfatuvu", "name": "Erkundung", "color": "color-gradient-2", "cards": [ { "id": "id-1749306532701-0hgtmbu", "heading": "Empathie entwickeln: Perspektivwechsel", "content": "Die Gebetspostkarten richten sich an ukrainische Geflüchtete, Haupt- und Ehrenamtliche in der Flüchtlingshilfe, Mitarbeitende in Kirche und Diakonie sowie Pastorinnen und Pastoren.\n\nAufgabe:\n\n1. Versetzt euch in die Lage eines ukrainischen Geflüchteten:\n * Welche Sorgen und Ängste hättet ihr?\n * Was würde euch Halt und Trost geben?\n2. Diskutiert: Wie können wir als Jugendliche Geflüchteten helfen und sie unterstützen?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungsphase. Er fördert die Empathiefähigkeit und die Bereitschaft zum Handeln. Die Schülerinnen und Schüler lernen, die Perspektive anderer Menschen einzunehmen und konkrete Möglichkeiten der Unterstützung zu entwickeln.", "url": "https://www.ekd.de/gebetspostkarten-fuer-ukrainische-gefluechtete-75156.htm", "inactive": false }, { "id": "id-1749306532701-6c4g37v", "heading": "Analyse der Gebetstexte: Klage und Segen", "content": "Die EKD bietet Gebetspostkarten für ukrainische Geflüchtete an, die ein Klagegebet sowie einen Segen und Zuspruch enthalten.\n\nAufgabe:\n\n1. Recherchiert: Sind die Gebetskarten online verfügbar? (Hinweis: Oftmals sind solche Materialien als PDF zum Download auf der Seite der EKD oder anderer kirchlicher Stellen zu finden). \n2. Analysiert die Texte des Klagegebets und des Segens:\n * Welche Gefühle und Bedürfnisse werden in den Gebeten ausgedrückt?\n * Welche Bilder und Symbole werden verwendet?\n * Inwiefern spiegeln die Gebete die Situation der Geflüchteten wider?\n3. Diskutiert: Welche Bedeutung haben Klage und Segen in Krisenzeiten?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungsphase. Er fördert die Textanalysekompetenz und die Auseinandersetzung mit religiösen Ausdrucksformen. Die Schülerinnen und Schüler lernen, die emotionalen und spirituellen Bedürfnisse von Menschen in Notlagen zu verstehen.", "url": "https://www.ekd.de/gebetspostkarten-fuer-ukrainische-gefluechtete-75156.htm", "inactive": false }, { "id": "id-1749306532701-e1iysfj", "heading": "Die Kirchen: Ökumene und religiöse Begründung des Krieges", "content": "Der Artikel beleuchtet die Rolle der Kirchen im Ukraine-Krieg, insbesondere die Haltung des russisch-orthodoxen Patriarchen Kyrill I.\n\nAufgabe:\n\n1. Welche Rolle spielt Patriarch Kyrill I. im Ukraine-Krieg?\n2. Inwiefern liefert er pseudo-religiöse Begründungen für den Krieg?\n3. Diskutiert: Dürfen religiöse Führer Kriege rechtfertigen? Welche Verantwortung haben religiöse Institutionen in Konflikten?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungs- oder Vertiefungsphase. Er fördert die Auseinandersetzung mit der Rolle von Religion in Konflikten. Die Schülerinnen und Schüler lernen, religiöse Aussagen kritisch zu hinterfragen und die Verantwortung religiöser Institutionen zu reflektieren.", "url": "https://www.pro-medienmagazin.de/500-tage-krieg-die-welt-ist-eine-andere/", "inactive": false }, { "id": "id-1749306532701-rubfx75", "heading": "Linksammlung sichten und Schwerpunkte setzen", "content": "Diese Seite ist eine Sammlung von Links, Materialien und Literaturtipps zum Thema Krieg und Frieden, insbesondere im Kontext der aktuellen Konflikte in der Ukraine und Israel.\n\nAufgabe:\n\n1. Sichtet die verschiedenen Kategorien und Angebote auf der Seite.\n2. Welche Bereiche erscheinen euch besonders relevant für die Fragestellung: Rolle religiöser Institutionen und Akteure im Ukraine-Krieg?\n3. Wählt 2-3 Links aus, die ihr genauer erkunden möchtet. Begründet eure Wahl.", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich gut für die Erkundungsphase. Er fördert die Fähigkeit zur Informationsrecherche und -bewertung. Die Schülerinnen und Schüler lernen, sich in einem umfangreichen Angebot zu orientieren und relevante Materialien auszuwählen.", "url": "https://irp-freiburg.de/service/materialien-zu-krieg-und-frieden/", "inactive": false } ] }, { "id": "id-1748929970477-4kjy2y0", "name": "Erarbeitung", "color": "color-gradient-3", "cards": [ { "id": "id-1749306532701-7wtnefd", "heading": "Analyse der Kriegslügen und der nationalen Identität", "content": "Der Artikel thematisiert die russische Kriegslüge, dass die Ukraine eigentlich gar nicht existiere und die Stärkung der nationalen Identität der Ukrainer durch den Krieg.\n\nAufgabe:\n\n1. Was bedeutet die Aussage, dass die größte russische Kriegslüge in den ersten Kriegstagen verpufft ist?\n2. Wie hat der Krieg die nationale Identität der Ukrainer beeinflusst?\n3. Diskutiert: Welche Rolle spielen Lügen und Propaganda in Kriegen? Nennt Beispiele aus anderen Konflikten.", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungsphase. Er fördert die Medienkompetenz und die Fähigkeit zur kritischen Auseinandersetzung mit Informationen. Die Schülerinnen und Schüler lernen, Propaganda zu erkennen und die Bedeutung von nationaler Identität in Konflikten zu verstehen.", "url": "https://www.pro-medienmagazin.de/500-tage-krieg-die-welt-ist-eine-andere/", "inactive": false }, { "id": "id-1749306532701-xknl2vk", "heading": "Kreativer Zugang: Psalmwerkstatt", "content": "Die Schülerinnen setzen sich kreativ (z.B. durch das Malen von Bildern, Standbildern, Kneten von Figuren, Gestalten mit Lego oder Playmobil Figuren) mit Psalmversen auseinander und reflektieren ihre Ergebnisse in Kleingruppen (Psalmwerkstatt).\n\nAufgabe:\n\n1. Wählt einen Psalmvers aus, der euch besonders anspricht (z.B. Ps 13,2-3; Ps 17, 11-12; Ps 21,9-10; Ps 54,5; Ps 59,7). \n2. Gestaltet diesen Vers mit verschiedenen Materialien (Farben, Knete, Lego, Playmobil etc.).\n3. Präsentiert eure Ergebnisse in Kleingruppen und erklärt, was ihr darstellen wolltet.", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich gut für die Einstiegsphase. Er ermöglicht einen kreativen und spielerischen Zugang zum Thema und fördert die emotionale Auseinandersetzung mit den Psalmtexten. Die Schülerinnen und Schüler können ihre Gefühle und Gedanken nonverbal ausdrücken.", "url": "https://www.lehrer-online.de/unterricht/sekundarstufen/geisteswissenschaften/politik-sowi/artikel/fa/fluchterfahren-lehrmaterial-zu-flucht-migration-und-ankommen/", "inactive": false }, { "id": "id-1749306532701-77qk4kt", "heading": "Eigene Klagepsalmen verfassen: Ausdruck der eigenen Gefühle", "content": "Die Schülerinnen schreiben eigene Klagepsalmen, um ihre Nöte, Ängste etc. in Worte zu fassen. Dafür bekommen sie eine Mappe mit einem Psalmenbuch, in das sie eigene Psalmen schreiben können. Sie können sich an den Elementen von Klagepsalmen orientieren, aber auch nur manche Elemente benutzen und sie in eine für sich passende Reihenfolge bringen.", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungs- oder Vertiefungsphase. Er fördert die Ausdrucksfähigkeit und die Auseinandersetzung mit den eigenen Gefühlen. Die Schülerinnen und Schüler lernen, ihre Emotionen in Worte zu fassen und sich mit ihren Ängsten und Sorgen auseinanderzusetzen. Beispielhafte Aufgabe: Gebt den Schülerinnen eine Strukturierungshilfe mit den Elementen von Klagepsalmen und lasst sie einen eigenen Psalm verfassen, der sich auf die aktuelle Situation in der Ukraine oder andere Gewalterfahrungen bezieht.", "url": "https://www.lehrer-online.de/unterricht/sekundarstufen/geisteswissenschaften/politik-sowi/artikel/fa/fluchterfahren-lehrmaterial-zu-flucht-migration-und-ankommen/", "inactive": false }, { "id": "id-1749306532701-uwxq0or", "heading": "Psalm-Elemente analysieren: Puzzlearbeit", "content": "Die Schülerinnen arbeiten an den verschiedenen Elementen eines Psalms (Anrede/Hilferuf – Klage – Vertrauensäußerung/Erinnerung an erfahrene Hilfe – Bitte – Lob/neue Hoffnung).", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungsphase. Er fördert die analytische Kompetenz und das Textverständnis. Die Schülerinnen und Schüler lernen, die Struktur von Klagepsalmen zu erkennen und die Bedeutung der einzelnen Elemente zu verstehen. Beispielhafte Aufgabe: Zerschneidet einen Klagepsalm in einzelne Verse oder Satzteile. Die Schülerinnen ordnen die Teile den verschiedenen Elementen zu und begründen ihre Entscheidung.", "url": "https://www.lehrer-online.de/unterricht/sekundarstufen/geisteswissenschaften/politik-sowi/artikel/fa/fluchterfahren-lehrmaterial-zu-flucht-migration-und-ankommen/", "inactive": false }, { "id": "id-1749306532701-1scyjhb", "heading": "Deutschland: Zeitenwende und Pazifismus", "content": "Der Artikel thematisiert die \"Zeitenwende\" in Deutschland und die veränderte Haltung zu Waffenlieferungen und militärischer Unterstützung.\n\nAufgabe:\n\n1. Was bedeutet die \"Zeitenwende\" in Bezug auf die deutsche Außen- und Sicherheitspolitik?\n2. Wie hat sich die Haltung der deutschen Bevölkerung zu Waffenlieferungen an die Ukraine verändert?\n3. Diskutiert: Ist Waffenlieferung ein Beitrag zum Frieden? Welche ethischen Argumente gibt es für und gegen Waffenlieferungen?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungs- oder Vertiefungsphase. Er fördert die Auseinandersetzung mit aktuellen politischen Fragen und ethischen Dilemmata. Die Schülerinnen und Schüler lernen, verschiedene Positionen zu verstehen und ihre eigene Meinung zu bilden.", "url": "https://www.pro-medienmagazin.de/500-tage-krieg-die-welt-ist-eine-andere/", "inactive": false } ] }, { "id": "id-1749306663326-2qyx4bh", "name": "Vertiefung", "color": "color-gradient-4", "cards": [ { "id": "id-1749306532701-ifcnizf", "heading": "Gebet als Ausdruck von Solidarität", "content": "Die Gebetspostkarten sind zweisprachig (Ukrainisch und Deutsch), um gemeinsames Gebet zu ermöglichen.\n\nAufgabe:\n\n1. Diskutiert: Welche Bedeutung hat Gebet in verschiedenen Religionen und Kulturen?\n2. Inwiefern kann Gebet ein Ausdruck von Solidarität sein?\n3. Formuliert eigene Gebete oder Fürbitten für die Menschen in der Ukraine.", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Vertiefungsphase. Er fördert die interreligiöse Kompetenz und die Auseinandersetzung mit der Bedeutung von Gebet und Spiritualität. Die Schülerinnen und Schüler lernen, Gebet als Ausdruck von Verbundenheit und Mitgefühl zu verstehen.", "url": "https://www.ekd.de/gebetspostkarten-fuer-ukrainische-gefluechtete-75156.htm", "inactive": false }, { "id": "id-1749306532701-kci172u", "heading": "Nächstenliebe und globale Solidarität: Christliche Werte im Konflikt", "content": "Das Dokument fordert globale Solidarität und Nächstenliebe im Kontext des Ukraine-Krieges.\n\nAufgabe:\n\n1. Inwiefern sind Nächstenliebe und Solidarität christliche Werte?\n2. Wie können diese Werte im Konflikt mit Russland konkret gelebt werden?\n3. Diskutiert: Welche Verantwortung haben Christinnen und Christen in Kriegszeiten?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Vertiefungsphase. Er fördert die Auseinandersetzung mit christlichen Werten und deren Bedeutung für das Handeln in der Welt. Die Schülerinnen und Schüler lernen, ihre eigene Verantwortung als Christinnen und Christen in Konfliktsituationen zu reflektieren.", "url": "https://solus-christus.portacaeli.de/Export/LinkedDocuments/Es%20soll%20nicht%20durch%20Kraft%20oder%20Heer%20geschehen,%20sondern%20durch%20meinen%20Geist%20-%20Putins%20Ende%20(kein%20Atomkrieg).pdf", "inactive": false }, { "id": "id-1749306532701-utjyeix", "heading": "Russland: Machtsystem und Moral", "content": "Der Artikel beschreibt, wie sich Russland zu einer Diktatur entwickelt hat und wie das Machtsystem Putins wankt.\n\nAufgabe:\n\n1. Welche Beispiele werden im Artikel genannt, um die Entwicklung Russlands zu einer Diktatur zu belegen?\n2. Inwiefern wankt das Machtsystem Putins?\n3. Diskutiert: Welche Rolle spielen moralische Werte in der Politik? Welche Konsequenzen hat es, wenn diese Werte verletzt werden?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Vertiefungsphase. Er fördert die politische Urteilsfähigkeit und die Auseinandersetzung mit ethischen Fragen. Die Schülerinnen und Schüler lernen, politische Systeme zu analysieren und die Bedeutung von Moral in der Politik zu reflektieren.", "url": "https://www.pro-medienmagazin.de/500-tage-krieg-die-welt-ist-eine-andere/", "inactive": false }, { "id": "id-1749306532701-34ytvcy", "heading": "Klare Kante gegen Antisemitismus: Eine Analyse", "content": "Die Seite verweist auf einen Artikel zum Thema Antisemitismus im Kontext aktueller Konflikte:\nKlare Kante gegen Antisemitismus: irp.aktuell 25\n\nAufgabe:*\n\n1. Lest den verlinkten Artikel.\n2. Welche Formen von Antisemitismus werden im Zusammenhang mit dem Nahostkonflikt thematisiert?\n3. Inwiefern ist das Thema Antisemitismus auch im Kontext des Ukraine-Krieges relevant?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungs- oder Vertiefungsphase. Er fördert die Auseinandersetzung mit einem komplexen Thema und sensibilisiert für die Gefahren von Antisemitismus. Die Schülerinnen und Schüler lernen, verschiedene Perspektiven einzunehmen und Zusammenhänge zu erkennen.", "url": "https://irp-freiburg.de/service/materialien-zu-krieg-und-frieden/detail/nachricht/id/195407-klare-kante-gegen-antisemitismus-irp-aktuell-25/?cb-id=12356664", "inactive": false } ] } ], "aiConfig": { "provider": "", "apiKey": "", "model": "", "baseUrl": "" }, "exportDate": "2025-06-12T09:18:37.171Z", "nostrEvent": true }

@ 472f440f:5669301e

Marty's Bent

via me

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

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

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

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

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

via NewsWire

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

via Lance Lambert

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

via Darth Powell

via Yahoo Finance

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

via Bitbo

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

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

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

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

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

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

Headlines of the Day

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

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

Get our new STACK SATS hat - via tftcmerch.io

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

---

Take the First Step Off the Exchange

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

Take control. Start with Bitkey.

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

---

Ten31, the largest bitcoin-focused investor, has deployed 158,469 sats | $150.00M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at ten31.vc/invest.

---

Final thought...

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

---

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@ 472f440f:5669301e

Marty's Bent

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Headlines of the Day

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

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

Get our new STACK SATS hat - via tftcmerch.io

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

---

Take the First Step Off the Exchange

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

Take control. Start with Bitkey.

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

---

Ten31, the largest bitcoin-focused investor, has deployed 158,469 sats | $150.00M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at ten31.vc/invest.

---

Final thought...

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

---

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@ 07018c45:31980c8d

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Welche Argumente werden im Text gegen militärische Gewalt vorgebracht?\n2. Was bedeutet „moralische Überlegenheit“ in diesem Zusammenhang?\n3. Diskutiert: Ist eine geistliche Strategie im Angesicht von Krieg und Gewalt realistisch? Welche Chancen und Grenzen hat sie?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Vertiefungsphase. Er fördert die ethische Urteilsfähigkeit und die Auseinandersetzung mit verschiedenen Konfliktlösungsstrategien. 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Versetzt euch in die Lage eines ukrainischen Geflüchteten:\n * Welche Sorgen und Ängste hättet ihr?\n * Was würde euch Halt und Trost geben?\n2. Diskutiert: Wie können wir als Jugendliche Geflüchteten helfen und sie unterstützen?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungsphase. Er fördert die Empathiefähigkeit und die Bereitschaft zum Handeln. Die Schülerinnen und Schüler lernen, die Perspektive anderer Menschen einzunehmen und konkrete Möglichkeiten der Unterstützung zu entwickeln.", "url": "https://www.ekd.de/gebetspostkarten-fuer-ukrainische-gefluechtete-75156.htm", "inactive": false }, { "id": "id-1749306532701-6c4g37v", "heading": "Analyse der Gebetstexte: Klage und Segen", "content": "Die EKD bietet Gebetspostkarten für ukrainische Geflüchtete an, die ein Klagegebet sowie einen Segen und Zuspruch enthalten.\n\nAufgabe:\n\n1. Recherchiert: Sind die Gebetskarten online verfügbar? (Hinweis: Oftmals sind solche Materialien als PDF zum Download auf der Seite der EKD oder anderer kirchlicher Stellen zu finden). \n2. Analysiert die Texte des Klagegebets und des Segens:\n * Welche Gefühle und Bedürfnisse werden in den Gebeten ausgedrückt?\n * Welche Bilder und Symbole werden verwendet?\n * Inwiefern spiegeln die Gebete die Situation der Geflüchteten wider?\n3. Diskutiert: Welche Bedeutung haben Klage und Segen in Krisenzeiten?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungsphase. Er fördert die Textanalysekompetenz und die Auseinandersetzung mit religiösen Ausdrucksformen. Die Schülerinnen und Schüler lernen, die emotionalen und spirituellen Bedürfnisse von Menschen in Notlagen zu verstehen.", "url": "https://www.ekd.de/gebetspostkarten-fuer-ukrainische-gefluechtete-75156.htm", "inactive": false }, { "id": "id-1749306532701-e1iysfj", "heading": "Die Kirchen: Ökumene und religiöse Begründung des Krieges", "content": "Der Artikel beleuchtet die Rolle der Kirchen im Ukraine-Krieg, insbesondere die Haltung des russisch-orthodoxen Patriarchen Kyrill I.\n\nAufgabe:\n\n1. Welche Rolle spielt Patriarch Kyrill I. im Ukraine-Krieg?\n2. Inwiefern liefert er pseudo-religiöse Begründungen für den Krieg?\n3. Diskutiert: Dürfen religiöse Führer Kriege rechtfertigen? Welche Verantwortung haben religiöse Institutionen in Konflikten?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungs- oder Vertiefungsphase. Er fördert die Auseinandersetzung mit der Rolle von Religion in Konflikten. Die Schülerinnen und Schüler lernen, religiöse Aussagen kritisch zu hinterfragen und die Verantwortung religiöser Institutionen zu reflektieren.", "url": "https://www.pro-medienmagazin.de/500-tage-krieg-die-welt-ist-eine-andere/", "inactive": false }, { "id": "id-1749306532701-rubfx75", "heading": "Linksammlung sichten und Schwerpunkte setzen", "content": "Diese Seite ist eine Sammlung von Links, Materialien und Literaturtipps zum Thema Krieg und Frieden, insbesondere im Kontext der aktuellen Konflikte in der Ukraine und Israel.\n\nAufgabe:\n\n1. Sichtet die verschiedenen Kategorien und Angebote auf der Seite.\n2. Welche Bereiche erscheinen euch besonders relevant für die Fragestellung: Rolle religiöser Institutionen und Akteure im Ukraine-Krieg?\n3. Wählt 2-3 Links aus, die ihr genauer erkunden möchtet. Begründet eure Wahl.", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich gut für die Erkundungsphase. Er fördert die Fähigkeit zur Informationsrecherche und -bewertung. Die Schülerinnen und Schüler lernen, sich in einem umfangreichen Angebot zu orientieren und relevante Materialien auszuwählen.", "url": "https://irp-freiburg.de/service/materialien-zu-krieg-und-frieden/", "inactive": false } ] }, { "id": "id-1748929970477-4kjy2y0", "name": "Erarbeitung", "color": "color-gradient-3", "cards": [ { "id": "id-1749306532701-7wtnefd", "heading": "Analyse der Kriegslügen und der nationalen Identität", "content": "Der Artikel thematisiert die russische Kriegslüge, dass die Ukraine eigentlich gar nicht existiere und die Stärkung der nationalen Identität der Ukrainer durch den Krieg.\n\nAufgabe:\n\n1. Was bedeutet die Aussage, dass die größte russische Kriegslüge in den ersten Kriegstagen verpufft ist?\n2. Wie hat der Krieg die nationale Identität der Ukrainer beeinflusst?\n3. Diskutiert: Welche Rolle spielen Lügen und Propaganda in Kriegen? Nennt Beispiele aus anderen Konflikten.", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungsphase. Er fördert die Medienkompetenz und die Fähigkeit zur kritischen Auseinandersetzung mit Informationen. Die Schülerinnen und Schüler lernen, Propaganda zu erkennen und die Bedeutung von nationaler Identität in Konflikten zu verstehen.", "url": "https://www.pro-medienmagazin.de/500-tage-krieg-die-welt-ist-eine-andere/", "inactive": false }, { "id": "id-1749306532701-xknl2vk", "heading": "Kreativer Zugang: Psalmwerkstatt", "content": "Die Schülerinnen setzen sich kreativ (z.B. durch das Malen von Bildern, Standbildern, Kneten von Figuren, Gestalten mit Lego oder Playmobil Figuren) mit Psalmversen auseinander und reflektieren ihre Ergebnisse in Kleingruppen (Psalmwerkstatt).\n\nAufgabe:\n\n1. Wählt einen Psalmvers aus, der euch besonders anspricht (z.B. Ps 13,2-3; Ps 17, 11-12; Ps 21,9-10; Ps 54,5; Ps 59,7). \n2. Gestaltet diesen Vers mit verschiedenen Materialien (Farben, Knete, Lego, Playmobil etc.).\n3. Präsentiert eure Ergebnisse in Kleingruppen und erklärt, was ihr darstellen wolltet.", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich gut für die Einstiegsphase. Er ermöglicht einen kreativen und spielerischen Zugang zum Thema und fördert die emotionale Auseinandersetzung mit den Psalmtexten. Die Schülerinnen und Schüler können ihre Gefühle und Gedanken nonverbal ausdrücken.", "url": "https://www.lehrer-online.de/unterricht/sekundarstufen/geisteswissenschaften/politik-sowi/artikel/fa/fluchterfahren-lehrmaterial-zu-flucht-migration-und-ankommen/", "inactive": false }, { "id": "id-1749306532701-77qk4kt", "heading": "Eigene Klagepsalmen verfassen: Ausdruck der eigenen Gefühle", "content": "Die Schülerinnen schreiben eigene Klagepsalmen, um ihre Nöte, Ängste etc. in Worte zu fassen. Dafür bekommen sie eine Mappe mit einem Psalmenbuch, in das sie eigene Psalmen schreiben können. Sie können sich an den Elementen von Klagepsalmen orientieren, aber auch nur manche Elemente benutzen und sie in eine für sich passende Reihenfolge bringen.", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungs- oder Vertiefungsphase. Er fördert die Ausdrucksfähigkeit und die Auseinandersetzung mit den eigenen Gefühlen. Die Schülerinnen und Schüler lernen, ihre Emotionen in Worte zu fassen und sich mit ihren Ängsten und Sorgen auseinanderzusetzen. Beispielhafte Aufgabe: Gebt den Schülerinnen eine Strukturierungshilfe mit den Elementen von Klagepsalmen und lasst sie einen eigenen Psalm verfassen, der sich auf die aktuelle Situation in der Ukraine oder andere Gewalterfahrungen bezieht.", "url": "https://www.lehrer-online.de/unterricht/sekundarstufen/geisteswissenschaften/politik-sowi/artikel/fa/fluchterfahren-lehrmaterial-zu-flucht-migration-und-ankommen/", "inactive": false }, { "id": "id-1749306532701-uwxq0or", "heading": "Psalm-Elemente analysieren: Puzzlearbeit", "content": "Die Schülerinnen arbeiten an den verschiedenen Elementen eines Psalms (Anrede/Hilferuf – Klage – Vertrauensäußerung/Erinnerung an erfahrene Hilfe – Bitte – Lob/neue Hoffnung).", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungsphase. Er fördert die analytische Kompetenz und das Textverständnis. Die Schülerinnen und Schüler lernen, die Struktur von Klagepsalmen zu erkennen und die Bedeutung der einzelnen Elemente zu verstehen. Beispielhafte Aufgabe: Zerschneidet einen Klagepsalm in einzelne Verse oder Satzteile. Die Schülerinnen ordnen die Teile den verschiedenen Elementen zu und begründen ihre Entscheidung.", "url": "https://www.lehrer-online.de/unterricht/sekundarstufen/geisteswissenschaften/politik-sowi/artikel/fa/fluchterfahren-lehrmaterial-zu-flucht-migration-und-ankommen/", "inactive": false }, { "id": "id-1749306532701-1scyjhb", "heading": "Deutschland: Zeitenwende und Pazifismus", "content": "Der Artikel thematisiert die \"Zeitenwende\" in Deutschland und die veränderte Haltung zu Waffenlieferungen und militärischer Unterstützung.\n\nAufgabe:\n\n1. Was bedeutet die \"Zeitenwende\" in Bezug auf die deutsche Außen- und Sicherheitspolitik?\n2. Wie hat sich die Haltung der deutschen Bevölkerung zu Waffenlieferungen an die Ukraine verändert?\n3. Diskutiert: Ist Waffenlieferung ein Beitrag zum Frieden? Welche ethischen Argumente gibt es für und gegen Waffenlieferungen?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungs- oder Vertiefungsphase. Er fördert die Auseinandersetzung mit aktuellen politischen Fragen und ethischen Dilemmata. Die Schülerinnen und Schüler lernen, verschiedene Positionen zu verstehen und ihre eigene Meinung zu bilden.", "url": "https://www.pro-medienmagazin.de/500-tage-krieg-die-welt-ist-eine-andere/", "inactive": false } ] }, { "id": "id-1749306663326-2qyx4bh", "name": "Vertiefung", "color": "color-gradient-4", "cards": [ { "id": "id-1749306532701-ifcnizf", "heading": "Gebet als Ausdruck von Solidarität", "content": "Die Gebetspostkarten sind zweisprachig (Ukrainisch und Deutsch), um gemeinsames Gebet zu ermöglichen.\n\nAufgabe:\n\n1. Diskutiert: Welche Bedeutung hat Gebet in verschiedenen Religionen und Kulturen?\n2. Inwiefern kann Gebet ein Ausdruck von Solidarität sein?\n3. Formuliert eigene Gebete oder Fürbitten für die Menschen in der Ukraine.", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Vertiefungsphase. Er fördert die interreligiöse Kompetenz und die Auseinandersetzung mit der Bedeutung von Gebet und Spiritualität. Die Schülerinnen und Schüler lernen, Gebet als Ausdruck von Verbundenheit und Mitgefühl zu verstehen.", "url": "https://www.ekd.de/gebetspostkarten-fuer-ukrainische-gefluechtete-75156.htm", "inactive": false }, { "id": "id-1749306532701-kci172u", "heading": "Nächstenliebe und globale Solidarität: Christliche Werte im Konflikt", "content": "Das Dokument fordert globale Solidarität und Nächstenliebe im Kontext des Ukraine-Krieges.\n\nAufgabe:\n\n1. Inwiefern sind Nächstenliebe und Solidarität christliche Werte?\n2. Wie können diese Werte im Konflikt mit Russland konkret gelebt werden?\n3. Diskutiert: Welche Verantwortung haben Christinnen und Christen in Kriegszeiten?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Vertiefungsphase. Er fördert die Auseinandersetzung mit christlichen Werten und deren Bedeutung für das Handeln in der Welt. Die Schülerinnen und Schüler lernen, ihre eigene Verantwortung als Christinnen und Christen in Konfliktsituationen zu reflektieren.", "url": "https://solus-christus.portacaeli.de/Export/LinkedDocuments/Es%20soll%20nicht%20durch%20Kraft%20oder%20Heer%20geschehen,%20sondern%20durch%20meinen%20Geist%20-%20Putins%20Ende%20(kein%20Atomkrieg).pdf", "inactive": false }, { "id": "id-1749306532701-utjyeix", "heading": "Russland: Machtsystem und Moral", "content": "Der Artikel beschreibt, wie sich Russland zu einer Diktatur entwickelt hat und wie das Machtsystem Putins wankt.\n\nAufgabe:\n\n1. Welche Beispiele werden im Artikel genannt, um die Entwicklung Russlands zu einer Diktatur zu belegen?\n2. Inwiefern wankt das Machtsystem Putins?\n3. Diskutiert: Welche Rolle spielen moralische Werte in der Politik? Welche Konsequenzen hat es, wenn diese Werte verletzt werden?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Vertiefungsphase. Er fördert die politische Urteilsfähigkeit und die Auseinandersetzung mit ethischen Fragen. Die Schülerinnen und Schüler lernen, politische Systeme zu analysieren und die Bedeutung von Moral in der Politik zu reflektieren.", "url": "https://www.pro-medienmagazin.de/500-tage-krieg-die-welt-ist-eine-andere/", "inactive": false }, { "id": "id-1749306532701-34ytvcy", "heading": "Klare Kante gegen Antisemitismus: Eine Analyse", "content": "Die Seite verweist auf einen Artikel zum Thema Antisemitismus im Kontext aktueller Konflikte:\nKlare Kante gegen Antisemitismus: irp.aktuell 25\n\nAufgabe:*\n\n1. Lest den verlinkten Artikel.\n2. Welche Formen von Antisemitismus werden im Zusammenhang mit dem Nahostkonflikt thematisiert?\n3. Inwiefern ist das Thema Antisemitismus auch im Kontext des Ukraine-Krieges relevant?", "color": "color-gradient-1", "thumbnail": "", "comments": "Dieser Baustein eignet sich für die Erarbeitungs- oder Vertiefungsphase. Er fördert die Auseinandersetzung mit einem komplexen Thema und sensibilisiert für die Gefahren von Antisemitismus. Die Schülerinnen und Schüler lernen, verschiedene Perspektiven einzunehmen und Zusammenhänge zu erkennen.", "url": "https://irp-freiburg.de/service/materialien-zu-krieg-und-frieden/detail/nachricht/id/195407-klare-kante-gegen-antisemitismus-irp-aktuell-25/?cb-id=12356664", "inactive": false } ] } ], "aiConfig": { "provider": "", "apiKey": "", "model": "", "baseUrl": "" }, "exportDate": "2025-06-12T09:01:28.847Z", "nostrEvent": true }

@ 5627e59c:d484729e

In een zee van mogelijkheden\ Kunnen we best veel tijd aan dromen besteden

Dromen is een universele taal\ Het wordt gedaan door ons allemaal

Het is het woord\ Dat deze gelijkheid de grond in boort

@ 5627e59c:d484729e

Happy New Year!

Happy New Year, my dearest human family\ Happy New Year, my dearest animal family

Dear children of the Earth\ I wish you all a magical year

May it be utterly new\ Ever-changing\ New now

And may your journey say\ Life is amazing! I'm in a maze\ Life is awesome! Quite some awe\ Life is magical! True alchemy

I am human\ Black woman, I love you so\ Life-giver of my origin, the negro [nigiro]

I am\ Thus physical and non-physical meet

Life is to be\ As the elements are and compete\ And as they collide with one another\ One becomes aware of an other\ And so life sets on a journey\ To discover the other

Animal life is set to explore\ Allowing all experience the other has in store\ Life left to experience without a voice\ Until it discovers there is an 'I'\ And it has a choice

Human life is to be inside a human body\ Thus fusion between intellect and feeling\ Gets to express its perspective\ Inside infinity

Truly, a magical gift\ My Holy Trinity

And so from human life flow many voices\ As it navigates through infinite choices

Thus I say

Life is magic\ A gift for all that is here\ Perceived by too many as tragic\ Take care of your vision, I tell you, my dear [tell-a-vision]

Life is magic\ And words are spells\ Placing your aim beyond your reach\ It takes away efficiency from your speech

Life is magic\ Above all else\ Even when it has me feeling blue\ Seemingly left without a clue

Still I say

Perfection\ You are everything\ And I am of you

The source, the mirror\ And the reflection

@ 472f440f:5669301e

Marty's Bent

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

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

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

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

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

via Charlie Bilello

via Mohamed Al-Erian

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

via TXMC

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

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

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

Weird times we're living in.

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

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

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

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

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

Headlines of the Day

Financial Times Under Fire Over MicroStrategy Bitcoin Coverage - via X

Trump in Qatar: Historic Boeing Deal Signed - via X

Get our new STACK SATS hat - via tftcmerch.io

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

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@ 8814ec9e:32454dd9

As the story goes, when Ben Franklin was leaving the Constitutional Convention in 1787, he was approached by a woman who asked him what form of government he and the other delegates to the convention had created. His response was, "A republic, madam, if you can keep it."

His words not only correct those who would mistakenly call the United States a democracy, but they press home the responsibility of every citizen to safeguard this constitutional republic from being taken over by tyrants who would pervert it to their own benefit.

Behind the text of this design is a distressed and tattered version of the original "Betsy Ross" flag of the thirteen colonies, representing just how tattered the original ideal of our republic has become. We have not done the best job of heeding Franklin's admonition to "keep it."

To order one for yourself, go to: It's a Republic T-Shirt on Shopstr

---

Product Details

• Most colors are 100% cotton

• Heather colors are 50/50 cotton and polyester.

• Unisex sizing available in S-4XL

• Fabric weight: 5.0–5.3 oz/yd² (170–180 g/m²)

• Pre-shrunk jersey knit

• Tubular construction

• Taped neck and shoulders

• Double seam at sleeves and bottom hem

• Tear-away tag

@ 5627e59c:d484729e

De laatste zonnestralen van de dag streken over de eeuwige golven en weerkaatsten als lichtpuntjes in de ogen van schipper Joris terwijl hij nog een slok nam van zijn glazen fles die de vorm had van het hoofd van een oude monnik.

Gekregen van een oude vrouw uit de bergen van de Himalaya, zorgde de rum genaamd 'Old Monk' voor een verwarmend gezelschap op deze eenzame kerstnacht.

Joris had met zijn boot naar India gevaren nadat zijn vrouw hem had verlaten en hij een Indiër had ontmoet die had gezegd: "Waar ik vandaan kom, zijn vrouwen vrij en worden ze niet gezien als enkel en alleen de mooie lichamen die zij bezitten of als eeuwig bezit van een gezin."

Verward en ongelovig had Joris gekeken naar de wereld en besefte dat vrouwen inderdaad slechts gezien werden als hun fysieke schoonheid, genegeerd werden voor hun koesterende gevoeligheid en bekritiseerd werden door hun spontane intensheid en had hierop voor twee jaar lang gezocht in India naar deze vrije vrouwen met als enig resultaat een oude vrouw te ontmoeten die alleen in de bergen woonde en dagelijks haar wijsheid deelde met ieder luisterend oor.

Daar ging het doorzichtig monnikshoofd en verliet met een grote gebogen vlucht de hand van schipper Joris toen plots met groot kabaal de boot abrupt tot stilstand kwam en Joris hals over kop naar de andere kant van het dek geslingerd werd.

Het monnikshoofd verdween in het donker terwijl Joris zijn lichaam probeerde te lokaliseren en met zijn ogen wijd open zijn hersenen zo veel mogelijk informatie probeerde door te spelen.

Tevergeefs, want zijn enorme verschot werd gevolgd door een enkel groeiende verbazing, ongeloof en desoriëntatie toen de boot begon te kantelen.

De bundel licht, afkomstig van de mast van de boot, zwierde doorheen het donker en kwam te schijnen op een gigantische rots in het midden van de zee die werd bezeten door een oogverblindende glinstergroene schijn.

Uit het donker kwam het monnikshoofd, dat nog steeds in volle vlucht was, in het vizier van de lichtbundel en plaatste zich exact tussen de glinstergroene verschijning en Joris waarbij Joris doorheen het monnikshoofd gezegend werd met het zicht op een pracht van een zeemeermin die uitnodigend poseerde op de rots.

Met een luide plons viel Joris achterover in het water toen hij zich realiseerde dat vrouwen zichzelf ook lieten vangen door lust en hun uiterlijke opmaakcompetities en met een dankbare glimlach zonk hij naar de bodem van de zee en was opnieuw geboren.

@ 5627e59c:d484729e

Machtig water\ Door velen bemind

Element van beweging\ Vormgever aan land\ Bondgenoot van wind

Voorkomer van comfort\ Toelater van rust

Machtig water\ Waar ik ook ga\ Ik weet dat jij de grond onder mijn voeten kust

@ 5627e59c:d484729e

I am the space\ In which your experience takes place

You could never meet me\ For I hold no identity

The only way to really see me\ Is to be me

@ 5627e59c:d484729e

Zonneschijn\ Stralen, lachen, zo fijn\ Moge de wereld dankbaar zijn

De vrouw, mijn gevoeligheid\ Bron van creativiteit

Genietend niets doen in het gras\ Met wat brood en wat wijn in het glas

@ e9d7ed6f:f52b3346

Bitcoin is not for everyone but open for everyone. As a teenager, Bitcoin has already seen massive sprout growth surpassing Amazon's market value, becoming the fifth most valuable asset in the world and aiming to surpass gold that has been around us for the last 5,000 years. According to coinworld, Bitcoin trails only behind Apple, Microsoft, NVIDIA and ofcourse the shinny yellow metal of antiquity, gold in terms of market capitalization. Its clear to see the hormones are firing. Institutional adoption, regulation clarity, geopolitics, inflation are all fueling speedy growth and adoption for Bitcoin around the world.

As we witness this unprecedented speedy growth of Bitcoin, the decentralized network of consensus, nodes and mining power, toes are reaching the ceiling of the shoe. Most countries are on a Bitcoin rush hour either making Bitcoin legel tender, crafting regulatory policies, establishing strategic reserves, Bitcoin ETFs, Bitcoin educational programs and developing smart contracts. Bitcoin is indeed decentralized, dusting off the old double spending centralized ledger, transfoming the way we appoach finance.

In the midst of all this Bitcoin fuss, one may wonder, what's Malawi's position on Bitcoin? Where does Malawi place Bitcoin? What's the state of affairs for Bitcoin and Crypto currencies in Malawi? Is Malawi noticing the trends, is the sky any orange? Are there any Bitcoiners, miners, nodes? Can Malawi place itself in a position to benefit from this Bitcoin phenomenon? Do we have any free energy resources to utilize for Bitcoin mining, policy framework, regulation and make it actually legal tender? Is there even any interest in Bitcoin at all in Malawi?.

The state of affairs for Bitcoin in Malawi is as bright and promising however, its going to take a shovel, digging and getting dirty. In a nutshell, lets have a litmus test, exploring a brief historical background of Bitcoin in Malawi, Bitcoinboma organization & education, Women of Satoshi initiative & ofcourse, Malawi catch Bitcoin if you can. There maybe other unofficial record to the specific historical background of Bitcoin and Crypto currencies in Malawi that as of the time of writing are missed. Reach out, feed me in comments or reach out via my Twitter (X) handle @pacharo_w

1. Historical background of Bitcoin As Bitcoin is heading for the economic throne, the Malawian Kwacha continues to dwindle down the tunnel. Purchasing power seems to slip and fall on the muddy economic road to a point where a basic necessity, sugar has hit a record high price of MWK 5,000.00. The prices are the sponge soaking all the excess printing of the currency generated by commercial banks and our central bank which by the way is the guardan of the Malawian kwacha. Speaking of the lender of last resort, a report by Miriam Banire on Crypto adoption around the world: Malawi stated Reserve Bank made it clear that cryptocurrencies are not considered legal tender and their use remains illegal.

The report further highlighted by stating, " RBM bears the exclusive mandate to issue legal tender, thus, bank notes and coins in Malawi, and to date, has not issued any form of cryptocurrency. The general public is encouraged to fully understand and be aware of the risks associated with the use of cryptocurrencies and similar online trading schemes, which include money laundering, vulnerability to cybercrimes, hacking and other fraudulent activities.” A statement from the former Governor of RBM, Dr. Dalitso Kabambe.

In the light of this, 2022 seems to be the official opening entry of Bitcoin and all crypto currency discussions in Malawi. Bitcoin was treated as just any other cryptocurrency and assumably needing a more careful approach to it. A strong emphasis that the RBM bears exclusive rights to issue legal tender currency in form of notes and coins drew a clear line, underlining risks such as fraudulent schemes, money laundering and cybercrimes if not monitored or regulated by the central bank.

In 2023, the same report stated that RBM was aware of cryptocurrency trade activities and there was mounting pressure from organizations such as ICT Association of Malawi as well as Economic Association of Malawi on formulating a regulatory policy and giving a clear stand on legal status for cryptocurrencies. The secretary of RBM and general counsel mentioned in further development in the report of engaging verious stakeholders in crypto regulation and having a neutral stand.

This implies that the governments position is still not yet clear and not known on where it stands on all this. However, they are aware and their attention is undivided.

Malawi is also a member of the World Economic Forum. An international independent egency that aims at improving the state of the world by involving the business communities, governments and institutions in crafting policies, guidelines and really put in effect agendas seeming fiting for a cause. Does it sound like Malawi perhaps may have been trying to explore its first Central Banking Digital currency?

WEF clearly advocates for a cashless society and has pushed for central banks in its membership to craft a Central Banking Digital Currency. As word on the corner travels so fast, Malawi seems to have called for consultations for a CBDC which its prototype patent is called the 'e-kwacha.' A digital currency that will be issued by the state, perhaps that will also go side to side with the physical notes of the Kwacha.

Progress of this project has so far went under the sheets as not much has been heard or speculated but we have our three eyes and three ears open to see the unfoldings of any development.

BITCOINBOMA, EDUCATION AND WOMEN OF SATOSHI

All roads to Bitcoinboma began in 2022, when Malawi including the rest of the world were recovering from aftermath of COVID-19 pandemic which was declared by World Health Organization. By this time a lot of business activities had slowed down, most private sector had been on a lock down and others working remotely.

Demand and supply command lines had drastically dropped. Masks had to be worn in all public places and atmosphere was utterly dry. Physical meetings seemed a challenge, gathering as crowd suddenly was a taboo but as history continually speaks and repeats, such times on the opposite side, opportunites loom for light. Two gentlemen, Nick Twayman and Grant Gombwa were actively sparkling Bitcoin conversations, deliberating Bitcoin and its state in Malawi. They started hosting space talks, engaging with fellow bitcoiners and audiences across the world via on twitter (X).

As if they were men on a mission to the Creature of the Jerky Island to draft a BitcoinBoma bill, it is believed that in 2023, August was the first time a Bitcoin physical Meet up happened in Malawi, right in the heart of the capital city at MHub Area 15, Lilongwe. There were fifteen participants and amongst many things they shared ideas of Bitcoin, state of legality, education and awareness as well as its adoption in Malawi. The aftermath of this meeting encouraged Grant and Nick to develop an idea of an organization. Interestingly, it was the wife of Nick that came up with the name "BitcoinBoma." Perfectly fitting, the name "Boma" stands for "place where people live" also it stands for " Government." Bitcoin being for the people, serves the society, a universal digital currency, the name absolutely placed everything in order fitting the context and representation.

BitcoinBoma was born in August, 2023 and made its first steps by intergrating the themes of social interaction, environmental awareness and economic enpowerment of Malawians. This organization advocates for the use case of Bitcoin as a legal tender currency, offering an altenative along side the Kwacha, seeking framework and acceptance as means of payment for goods and services. Bitcoin finally had a home in Malawi, BitcoinBoma.

Later, Ian Foster, a chartered accountant, economist, business analyst and ofcourse a Bitcoin maxi teamed up with the cofounders of BitcoinBoma and went together for a Bitcoin voyage conference in South Africa towards the end of 2023. After this conference, he later joined Bitcoinboma & also highlited his personal efforts of engaging Malawi government on the Bitcoin course which amongst other things included negotiating with the government of Malawi, through the Ministry of energy resources and Mining. He proposed an opportunity to utilize the water energy which powers the electric hydro-power plant grid that powers and generates electricity for Malawi. In the proposal, the abstract was utilizing and boostering efficiency of generating electricity through Bitcoin mining.

Later in May, 2024 BitcoinBoma collaborated with Trezor academy to host their first Bitcoin Education seminar and it happened in the month of July, 2024. They were 12 participants who completed a 3 day seminar series, scooping certificates of attendance, crafting cyberhornets of Bitcoin to preach the gospel of Bitcoin to the masses. These efforts proved a success and opened the door of an opportunity to embark on the first BitcoinBoma Diploma education journey. Towards the year end of 2024, BitcoinbBoma successfully launched the Bitcoin Diploma education campaign and registered its first Cohort students to embark on an education program.

November 16th, 2024 was a special day. It was packed like its a chrismas day where all relatives are sitting and laughing on a round table. BitcoinBoma hosted a Bitcoin 101 session with a special guest who later has become an incredible pillar of strength in BitcoinBoma. Talking of electrical Engeenier a Bitcoin powerhouse, vastly experienced, some grey hair we were privileged to meet and have Olev Maimets, all the way from Canada. He detailed the significance of Bitcoin, why Bitcoin and how his life has changed by embarking on Bitcoin. To this day, Olev is an anchor, a tutor, an aid and alley of BitcoinBoma.

Later, Ian travelled to El- Salvador, where his mission was to raise awareness and apply for BitcoinBoma to be a Mi Primer Bitcoin node and on 5th January, 2025 Bitcoinboma took its first step embarking on its first education program.

On the February 12, 2025 BitcoinBoma received an upvote representation of 56 votes to become a light node.

As history of BitcoinBoma continued to unfold, a new alley emerged from the shores of the fresh waters of Malawi. A briliant, creative and passionate Doctor and a junior Bitcoin protocal developer who cofounded a cooperative initiative called Women of Satoshi.

WOMEN OF SATOSHI This young ambitious professional doctor and junior Bitcoin developer by the name of Yankho Ngoleka took advantage of his challenging profession and made it to an opportunity by concretrating on how marginalized and vulnerable young women and women can build from scratch using an idea known as 'Sats Mkhonde.' The idea loiters a common traditional women's' Bank m'mKhonde, where women can form a cooperative and loan each other currency to support their existing business and pay it back after a given period of time for others to access. ' The name is an imagery that means, ' the Bank is within the veranda' so to say, ' the Bank is close to you.'

Earlier, it was highlighted how small scale businesses are really the skeleton of Malawi's economy. One of their major draw back is how FIAT currencies wash off the purchasing power for their gains in the small businesses they run. In the long run if these business erode with hyperinflation, then chances are they wont survive. Absence of these businesses means a cut in business supply chains, collapse of production and destruction of a family unit.

How can these businesses be recession proof? Women of Satoshi has a unique answer. If these businesses have access and adopt Bitcoin as altenative digital currency portfolio then it stretches the life span of their investment and savings. Bitcoin is a store of value and fares well with time. Women of Satoshi aims to educate and let women pioner 'Sats Mkhonde' initiative which will be a cataylst in creating a Bitcoin circular economy. As BitcoinBitcoinboma picked its perks, it partnered together with Women of satoshi and shared together the vision of awareness and education for Bitcoin in Malawi. In the months of March- April of 2025, BitcoinBoma and Women of Satoshi collaborated with Trezor Academy for a Bitcoin seminar at MUBAS ( Malawi University of Business Applied Science) which was a success.

MALAWI CATCH BITCOIN IF YOU CAN

When there's a dead rat in the ceiling, no matter how you clean the house, the cent of it will keep you outside the house. When you have a currency plundered by catastrophic loss of purchasing power, it will keep you out of reach for prosperity.

There is a lot of mirage on the state of affairs of the Kwacha. It seems the more we use it as a medium of exchange and store of value, the greater it plunges. The rate of its velocity seems to concur to the speed of light and prices are soaring to the point they can break the dome. The underwhelming performance of the Kwacha places every citizen on blink of loss, financial paralysis, uncertainty and instability of the nation.

There are a lot of schools of thoughts, we have brilliant economists, well grounded institutions that act as an eye and they have solid data with all the charts in place. As of writing, trading economists, reports an exchange rate rise of MWK 1,734/1 USD recording a 0.02% increase as of 10th June, 2025. In contrast, the Kwacha performed lower last month giving a 0.02% & a lower turnover of 0.03% from the previous twelve months check

On the opposite side, the reality speaks a different language. Regardless of the slight gain, prices of commodities which are an indicator to the purchasing power of the currency continue to climb up. Every commodity seems to react with any speculation, rumor mill, geopolitics and ofcourse trends with the US Dollar, cases of both white market (Bank rate) & black market(Unregulated US Dollar market rate).

Fuel availability is also one catalyst that sets the wildest fires of price hikes. Just a slight hint of fuel shortage, sets ablaze prices of every commodity leaving a wallet only ashes and dust. A fuel shortage can get the price of fuel at MWK 10,000 or above per litre as compared to the official pump price of MWK 2,530 for Petrol and MWK 2,734 for diseal as of writing. According to statista, Malawi has one of the highest, in fact the first country on the list for the highest gasoline prices.

Confidence & purchasing power of the Kwacha is extremely reliant towards availability of US Dollar. What institutions of trust miss as guardians of the Kwacha is we legitimize the Kwacha to another collapsing currency, the US dollar. The dollar standard since 1971 has never mantained any purchasing power. It has in fact failed to keep its grip as a store of value as time can attest its stability and strength. This is the case with all FIAT currencies throughout history. Price inflation of commodities has always signalled a weak currency due to over excessive printing, government deficit spending for social programs, ever ending construction works, social cash transfers amongst other things. Whenever, the money supply is tampered with, a loss in the purchasing power is inevitable. The institutions we trust to save guard the purchasing power of the currency fail to uphold the principle and never mention or question the money supply problem. They chose shortcuts that bypass the natural principles of free markets.

This is like keeping a dead rat in a home, if you can't locate it, the smell will choke the nostrils.If we are to reverse the situation, we need to fix our home by addressing the problem of this dead rat. A deep search, proper cleaning utensils and some odor deodorant should aid the cleaning process. Malawi should properly position itself on the stand of legalizing use of Bitcoin and handling FIAT currencies. The fate of the Malawian Kwacha is sealed and will continue to dwindle, losing its purchasing power as currency supply is never ending always fuelled by excessive spending and debt by the governmentt. This where Malawi must Catch Bitcoin if it can.

Loss of purchasing power and currency debasements are an ever ending circus. Excessive spending is a key feature for governments and when future prosperity is spent presently disasters looming in the future are always unavoidable. So how can Malawi avoid such catastrophes?

Allowing Bitcoin side with the Malawian Kwacha, it can combat forex challenges. Bitcoin doesn't have an exchange rate. It is 'the money itself.' It has a use case backed by computational power, network and cryptographic intergrated security. Nations can use Bitcoin to exchange value and communicate bilateral agreements without holding each others currencies to facilitate trade. There's no risking sabotaging the whole nation using primarily one instrument and medium of exchange. Bitcoin can allow Malawi to engage and exchange value, talents, resources and boom emerging markets with Bitcoin provided a framework is put in place to support Bitcoin. Using Bitcoin, will bypass almost all barriers to access international goods as well as export locally made goods to other countries.

Again, Bitcoin offers an altenative to the currency. No forex? No currency printer? Well, no problem, we have a stable altenative that can be used and still have access to international market. The 'one option only' conveys to limitation. Malawi markets are very vibrant, possibilities are limitless. We have producers who produce more and consume less. The pieces all collapse if there's one firm point holding the entire financial infrastructure. So if the dollar collapses, the Kwacha must follow trend. As all FIAT are nothing but IOUs, backed by the faith, trust and realiance of government. When the government seizures, the currency will follow too. Alternatively, this is not the case with Bitcoin. Built in scarcity and difficulty adjustment in its release, it keeps its inflation in check, having an equilibrium supply and creating more demand that brings about stability in the free market.

Truth is majority of the citizens panic and worry of faith in the Malawian kwacha. Everyone complains of high costs of living, that the wage isn't as good and fails to uphold coverage for a family. Adding a side hustle, two or three jobs and shifts, lending capital to farm all as a thousand ways to invade inflation. As prices will forever continue to sore, the market also keeps an eye and Grasham's Law always takes effect. (Grashams Law, Bad money drives out good money). The MWK 20.00 Malawian currency note could buy some candy back in the days. If we stretch this further it was a wage in the 1930''s to 60's. Today a MWK 20 note barely affords to make any purchase. At face value its useless on market, just a paper and a number on it. Some merchants don't accept it, being the weakest link and can't really purchase anything of value although it still has legal status and backed by government. The government through Reserve Bank of Malawi cautioned its citizenry that the MWK 20 note is still legal tender and must be accepted and used and warned those merchants refusing may face the law.

Well i hope i won't face the law with this.

Bitcoin may be the answer to questions majority of small scale businesses have who, constantly question legitimacy and fragility of the Kwacha. Price shocks ultimately dilute the little gains these businesses make, sending them back to the drawing board with really no insurance, surplus capital or compensation for the flooding Kwacha. Inflation of Kwacha undermines the capital power of these businesses and yet they are the skeleton that hold the muscle of the economy. Many of these are local vendors who tirelessly roam around in the urban city and rural areas, small shops also called 'Okala' who at many times order goods from other retail and wholesaler shops. When price shocks happen, their tables scatter and really have no choice but to also raise their prices. It gets to the point that at times one may not know how much they are they going sell their goods or what price is one going to buy.

On the other hand, Bitcoin which has proven time and again to be stable could protect, insure these businesses against these catastrophes. The deflationary measure can help a portion of their business capital be insured in the form of savings.

Bitcoin doesn't have a price and can't be measured to a collapsing currency to determine its value. The underlining statement is 1 Satoshi will always equal to 1 Satoshi, 1 BTC will always equal to 1 BTC. A digital currency with such a store of value feature in its feathers can really be an altenative, a reliable economic container, storing value for a really long time and can safely land any small business enterprise on a flying wheel.

So whats next... Let me wrap up by sharing an amazing experience i had with the students i teach at my school. Am huge fan of football & its encouraging to see young girls play soccer. At my school, on this particular day, i had fun seeing and cheering them play for a prize and they absolutely went nuts and loved it.

I offered them MWK 10,000 prize, about 5,280 Sats, $5.77 as of writing & the winners took it all. I know one day they will get to understand Bitcoin and why, they will also accept Bitcoin as payment.

One day they will have their football kits labelled Bitcoin and own Bitcoin branded football boots and balls. If you think this is a great idea, share, express your views and suggestions in the comments, I'd be so excited to hear them.

Am also a developing roockie blogger, you can rate my pen skills and give any meaningful suggestions.

Sources:

@ 5627e59c:d484729e

Love, I thank you for your warmth\ Ever lifting

You keep me charmed\ Ever drifting

May I be me\ And you be you

In a perfect harmony\ Embracing all life makes us grow through

@ 5627e59c:d484729e

Spontaniteit\ Creativiteit

Iets visueel of gewoon geluid\ Het moet eruit

Ik doe mezelf cadeau aan jou\ Omdat ik van het leven hou

@ 9c9d2765:16f8c2c2

In a secluded mountain village, where the winds howled like wolves and the earth bore deep scars from ancient quakes, lived a deaf potter named Mazi. The villagers pitied him, not because he was deaf, but because he rarely spoke his silence louder than any thunderstorm that rumbled through their peaks.

Mazi spent his days shaping clay in a modest workshop. He did not hear the mockery of children mimicking his silent gestures. He did not flinch at the villagers who whispered, “He makes pots, but he hears nothing. What could he possibly understand about life?”

But his hands understood.

Each piece Mazi created was a marvel curved like whispers, solid like promises, smooth like forgiveness. His pottery bore no symbols, yet every visitor who touched them felt something stir inside: grief softening, joy surfacing, questions echoing.

One winter, an avalanche trapped the village under ice and silence. The road was blocked. Supplies ran out. Tempers flared. Hope withered.

Then, from the snowy haze, Mazi emerged with a cart stacked not with food or firewood, but with his clay pots.

At first, the villagers laughed. “Will we eat pottery, Mazi?” they jeered.

But when he placed a pot in front of each home, and signed, “Fill these with what matters,” a strange stillness fell.

One by one, families placed letters, tokens, songs, and prayers into the pots. In that quiet act, they began listening not with ears, but with hearts.

Soon, Mazi’s pots became vessels of unity. Messages were passed through them. Water was shared. Stories revived. And slowly, the snow relented.

When spring came, a traveler arrived and asked, “Who saved this village?”

They pointed to the silent potter shaping a new vessel beside a blooming tree.

He heard nothing. Yet his silence had spoken.

Moral: You don’t need to be loud to be heard. In silence, we often find the truest strength and deepest understanding.

@ 5627e59c:d484729e

Veroorzaakt door de wereld rond mij\ Vormen de wereld in mij

Verwaarloosd door de wereld rond mij\ Overgelaten aan mij

Een groene brug komt uit mij\ Verbindt mij met wij\ En laat ons samen vrij

@ 5627e59c:d484729e

Jaren tellen\ Hoeft voor mij niet

Verhalen vertellen\ Over geluk en verdriet

Een warme haven\ Veilig en fijn

Dromen voorgedragen\ Onschuldig en rein

Momenten ervaard, geleerd\ En geïntegreerd

Ideeën, geloven en gevoelens\ Gevormd en gecreëerd

Zonder eind of echt begin\ Vallen, groeien, leren, stoeien

Een gezin in een gezin met een gezin erin\ Gezind gericht blijft liefde vloeien

@ 472f440f:5669301e

Marty's Bent

via me

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

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

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

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

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

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

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

Bitcoin Treasury - The Fourth Lever to Equity Value Growth

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

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

via Cormac

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

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

America's Two Economies

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

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

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

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

Headlines of the Day

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

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

Get our new STACK SATS hat - via tftcmerch.io

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

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Ten31, the largest bitcoin-focused investor, has deployed 144,229 sats | $150.00M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at ten31.vc/invest.

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Final thought...

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

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@ 5627e59c:d484729e

The world around me\ Is assumed to be

Through sensory observations\ This appears to me

What I experience\ Is for me

But the ultimate experience\ Is for me\ To be

@ 8814ec9e:32454dd9

In general, learning how to properly and safely handle a firearm is very simple. No long manual to study before taking a test. Just remember four easy rules:

1. Treat every gun as though it is loaded at all times.

2. Don't point the muzzle at anything you aren't willing to destroy.

3. Keep your finger off of the trigger until you are ready to fire.

4. Know your target and what is behind, beyond, and around it.

Clearing most malfunctions is just as easy, if not easier. Just tap, rack, bang! So easy, it reminded me of those instructions you often see in public bathrooms for how to wash your hands. If you don't know how without the sign... Well I can't help you.

To order one for yourself, go to: Tap, Rack, Bang T-Shirt on Shopstr

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Product Details

• Most colors are 100% cotton

• Heather colors are 50/50 cotton and polyester.

• Unisex sizing available in S-4XL

• Fabric weight: 5.0–5.3 oz/yd² (170–180 g/m²)

• Pre-shrunk jersey knit

• Tubular construction

• Taped neck and shoulders

• Double seam at sleeves and bottom hem

• Tear-away tag

@ 5627e59c:d484729e

Happy New Year!

Happy New Year, my dearest human family\ Happy New Year, my dearest animal family

Dear children of the Earth\ I wish you all a magical year

May it be utterly new\ Ever-changing\ New now

And may your journey say\ Life is amazing! I'm in a maze\ Life is awesome! Quite some awe\ Life is magical! True alchemy

I am human\ Black woman, I love you so\ Life-giver of my origin, the negro [nigiro]

I am\ Thus physical and non-physical meet

Life is to be\ As the elements are and compete\ And as they collide with one another\ One becomes aware of an other\ And so life sets on a journey\ To discover the other

Animal life is set to explore\ Allowing all experience the other has in store\ Life left to experience without a voice\ Until it discovers there is an 'I'\ And it has a choice

Human life is to be inside a human body\ Thus fusion between intellect and feeling\ Gets to express its perspective\ Inside infinity

Truly, a magical gift\ My Holy Trinity

And so from human life flow many voices\ As it navigates through infinite choices

Thus I say

Life is magic\ A gift for all that is here\ Perceived by too many as tragic\ Take care of your vision, I tell you, my dear [tell-a-vision]

Life is magic\ And words are spells\ Placing your aim beyond your reach\ It takes away efficiency from your speech

Life is magic\ Above all else\ Even when it has me feeling blue\ Seemingly left without a clue

Still I say

Perfection\ You are everything\ And I am of you

The source, the mirror\ And the reflection

@ 8814ec9e:32454dd9

This design was, of course, inspired by the words of the Second Amendment itself:

\> A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear arms shall not be infringed.

We've all seen plenty of shirt designs that emphasize the last four words of the amendment, "shall not be infringed," but I wanted to draw attention to a portion that gets little air-time with my design. Private gun ownership is necessary to the security of a free state. It is a key piece of how freedom from tyranny is secured, from tyrants both foreign and domestic.

As a nod to this, I incorporated my own AR-15 into the design. If you ever happen upon me at the range, you just may see me shooting that exact rifle.

To order one for yourself, go to: Necessary to a Free State T-Shirt on Shopstr

---

Product Details

• Most colors are 100% cotton

• Heather colors are 50/50 cotton and polyester.

• Unisex sizing available in S-4XL

• Fabric weight: 5.0–5.3 oz/yd² (170–180 g/m²)

• Pre-shrunk jersey knit

• Tubular construction

• Taped neck and shoulders

• Double seam at sleeves and bottom hem

• Tear-away tag

@ 8814ec9e:32454dd9

I'm a big fan of J.R.R. Tolkien's The Lord of the Rings, if you couldn't tell from this design. Most people who see it assume at first glance that the tree is the white tree of Gondor, and the script font in a circle around it must be the elvish script from the one ring. Only when they take a closer look do they see that the roots of the tree are soaking up blood and that the text is actually a famous quote from Thomas Jefferson.

The tree of liberty must be refreshed from time to time with the blood of Patriots and Tyrants.

If the tree also reminds you of the Norse tree of life, Yggdrasil, that is not by coincidence, either. I took inspiration from Norse artwork in this design.

To order one for yourself, go to: Tree of Liberty T-Shirt on Shopstr

---

Product Details

• Most colors are 100% cotton

• Heather colors are 50/50 cotton and polyester.

• Unisex sizing available in S-4XL

• Fabric weight: 5.0–5.3 oz/yd² (170–180 g/m²)

• Pre-shrunk jersey knit

• Tubular construction

• Taped neck and shoulders

• Double seam at sleeves and bottom hem

• Tear-away tag

@ 472f440f:5669301e

Marty's Bent

via Kevin McKernan

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

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

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

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

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

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

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

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

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

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

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

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

Headlines of the Day

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

Mallers promises no rehypothecation in Strike Bitcoin loans - via X

Get our new STACK SATS hat - via tftcmerch.io

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

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

Sign Up

---

Ten31, the largest bitcoin-focused investor, has deployed 144,264 sats | $150.00M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at ten31.vc/invest.

---

Final thought...

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

---

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

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

@ 5627e59c:d484729e

De laatste zonnestralen van de dag streken over de eeuwige golven en weerkaatsten als lichtpuntjes in de ogen van schipper Joris terwijl hij nog een slok nam van zijn glazen fles die de vorm had van het hoofd van een oude monnik.

Gekregen van een oude vrouw uit de bergen van de Himalaya, zorgde de rum genaamd 'Old Monk' voor een verwarmend gezelschap op deze eenzame kerstnacht.

Joris had met zijn boot naar India gevaren nadat zijn vrouw hem had verlaten en hij een Indiër had ontmoet die had gezegd: "Waar ik vandaan kom, zijn vrouwen vrij en worden ze niet gezien als enkel en alleen de mooie lichamen die zij bezitten of als eeuwig bezit van een gezin."

Verward en ongelovig had Joris gekeken naar de wereld en besefte dat vrouwen inderdaad slechts gezien werden als hun fysieke schoonheid, genegeerd werden voor hun koesterende gevoeligheid en bekritiseerd werden door hun spontane intensheid en had hierop voor twee jaar lang gezocht in India naar deze vrije vrouwen met als enig resultaat een oude vrouw te ontmoeten die alleen in de bergen woonde en dagelijks haar wijsheid deelde met ieder luisterend oor.

Daar ging het doorzichtig monnikshoofd en verliet met een grote gebogen vlucht de hand van schipper Joris toen plots met groot kabaal de boot abrupt tot stilstand kwam en Joris hals over kop naar de andere kant van het dek geslingerd werd.

Het monnikshoofd verdween in het donker terwijl Joris zijn lichaam probeerde te lokaliseren en met zijn ogen wijd open zijn hersenen zo veel mogelijk informatie probeerde door te spelen.

Tevergeefs, want zijn enorme verschot werd gevolgd door een enkel groeiende verbazing, ongeloof en desoriëntatie toen de boot begon te kantelen.

De bundel licht, afkomstig van de mast van de boot, zwierde doorheen het donker en kwam te schijnen op een gigantische rots in het midden van de zee die werd bezeten door een oogverblindende glinstergroene schijn.

Uit het donker kwam het monnikshoofd, dat nog steeds in volle vlucht was, in het vizier van de lichtbundel en plaatste zich exact tussen de glinstergroene verschijning en Joris waarbij Joris doorheen het monnikshoofd gezegend werd met het zicht op een pracht van een zeemeermin die uitnodigend poseerde op de rots.

Met een luide plons viel Joris achterover in het water toen hij zich realiseerde dat vrouwen zichzelf ook lieten vangen door lust en hun uiterlijke opmaakcompetities en met een dankbare glimlach zonk hij naar de bodem van de zee en was opnieuw geboren.

@ dfa02707:41ca50e3

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

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

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

What's new

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

Other changes

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

#FREESAMOURAI

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

Announcement / Archive
GitHub Repo

@ 5627e59c:d484729e

Zonneschijn\ Stralen, lachen, zo fijn\ Moge de wereld dankbaar zijn

De vrouw, mijn gevoeligheid\ Bron van creativiteit

Genietend niets doen in het gras\ Met wat brood en wat wijn in het glas

@ fc7022f5:e829f309

Hos Derma X guider vi dig professionelt i valget af den rette behandlerbriks til dine behov. Vi gennemgår vigtige faktorer som ergonomi, justeringsmuligheder, materialekvalitet og funktionalitet, så du kan træffe et informeret valg. En god behandlerbriks understøtter både behandlerens arbejdsstilling og klientens komfort. Vores vejledning sikrer, at du investerer i det udstyr, der bedst matcher din klinik og behandlingsform. Få professionel indsigt i, hvordan du vælger den optimale behandlerbriks.

@ 5627e59c:d484729e

Spontaniteit\ Creativiteit

Iets visueel of gewoon geluid\ Het moet eruit

Ik doe mezelf cadeau aan jou\ Omdat ik van het leven hou

@ cae03c48:2a7d6671

Bitcoin Magazine

The Trump’s American Bitcoin Merges with Gryphon, Reports 215 BTC on Balance Sheet Since Launch

American Bitcoin Corp (ABTC), a newly formed private Bitcoin mining company backed by Eric Trump and Donald Trump Jr., announced in a June 10 SEC filing that it has acquired 215 Bitcoin (BTC) since launching operations on April 1, 2025. The reserve is currently valued at approximately $23 million, showing their drive and commitment to Bitcoin. 

JUST IN: American Bitcoin Corp (private) reports to have 215 #bitcoin (per 31 May) since it's launch on April 1, 2025.

They will merge with Gryphon Digital $GRYP and become public under ticker $ABTC.

They mention "Bitcoin accumulation is not a side effect of ABTC’s business.… pic.twitter.com/wq1Uxr76Z2

— NLNico (@btcNLNico) June 10, 2025

“Bitcoin accumulation is not a side effect of ABTC’s business. It is the business,” the company stated in the filing.

Furthermore, ABTC has entered into a merger agreement with Gryphon Digital Mining ($GRYP), and the combined company is expected to begin public trading under the ticker $ABTC as early as Q3 2025. 

The company’s three-layer strategic plan—outlined in the SEC disclosure—details a focused approach:

Layer 1: Build the Engine

• ABTC’s foundation is built on “producing Bitcoin below-market cost through a capital efficient, infrastructure-light operating model.” The company owns and operates over 60,000 miners from Bitmain and MicroBt, running primarily on Hut 8-managed facilities.

Layer 2: Scale the Reserve

• ABTC had “accumulated approximately 215 Bitcoin in reserve since launching on April 1, 2025,” which it considers a long-term strategic asset. The firm states its goal is “to utilize public markets and strategic financing structures to access efficient capital and leverage that capital to increase its Bitcoin in reserve per share.”

Layer 3: Lead the Ecosystem 

• The company ultimately aims to use its operational scale and mining position to drive industry-wide adoption. “ABTC may pursue opportunities to support protocol development, enhance network infrastructure and contribute to Bitcoin’s resilience and adoption in ways that align with shareholder value creation.”

For mining rewards, ABTC uses Foundry and Luxor pools with sub-1% fees and relies on Coinbase Custody for secure cold storage, featuring multi-factor authentication and strict withdrawal protocols. 

With operations across Niagara Falls, NY; Medicine Hat, AB; and Orla, TX, ABTC is leveraging strategic partnerships—primarily with Hut 8—to scale its Bitcoin holdings while influencing the broader crypto mining ecosystem.

This post The Trump’s American Bitcoin Merges with Gryphon, Reports 215 BTC on Balance Sheet Since Launch first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

@ cae03c48:2a7d6671

Bitcoin Magazine

Bitcoin Officially Traded Above $100,000 For 30 Consecutive Days For The First Time

Bitcoin has officially completed 30 consecutive days trading above the $100,000 mark, marking a historic milestone in its 15 year journey. Bitcoin achieved its all time high (ATH) of $111,980 on May 22, almost hitting $112,000.

JUST IN: Bitcoin has stayed above $100,000 for 30 consecutive days for the first time ever! pic.twitter.com/nfccEK3Wf0

— Bitcoin Magazine (@BitcoinMagazine) June 10, 2025

In the last 30 days, Bitcoin saw a 10 percent pullback right after reaching its ATH, dropping to $100,428. However, it wasn’t for long, as Bitcoin is back at $109,511 at the time of writing. Momentum appears to be building once again, signaling to be bullish.

“Anytime price is able to punch through a major resistance level, whether psychological or historical, and successfully hold, it is certainly a bullish sign,” said the technical analyst of Wolfe Research Read Harvey. “What really stood out to us was price’s ability to hold that level on the back test, when it briefly fell to $100,000 on Thursday. It also happened to align perfectly with the 50-day moving average. … We feel this should act as a launching pad back towards the recent highs of $112,000.”

In the past month, Bitcoin has surged into the financial and political mainstream. Several U.S. states including New Hampshire first, followed by Arizona, and then Texas have passed legislation recognizing Bitcoin as a strategic reserve asset. These laws reflect a growing trend of state level interest in using Bitcoin as a financial hedge and as part of long term fiscal policy.

“New Hampshire didn’t just pass a bill; it sparked a movement,” stated the CEO and Co-Founder of Satoshi Action Dennis Porter.

At the same time, financial institutions are rapidly expanding their Bitcoin offerings. JP Morgan has started providing loans backed by Bitcoin ETFs as collateral. BlackRock’s Bitcoin ETF has entered a period of intense activity, generating record trading volumes and capturing the attention of both retail and institutional investors.

To date, a total of 228 public and private entities have Bitcoin in their balance sheets and in the last 30 days, companies like GameStop, Know Labs, and Norway-based NBX have added Bitcoin as a strategic reserve. All these companies are treating Bitcoin not just as a speculative asset, but as a key part of their long term financial plans. This growing corporate trend follows the example set by Strategy, but it’s now happening on a much larger scale.

At the 2025 Bitcoin conference, the Vice President of the United States of America, JD Vance said in his speech, “Fifty million Americans own Bitcoin. I think it’s gonna be 100 million before too long.”

This post Bitcoin Officially Traded Above $100,000 For 30 Consecutive Days For The First Time first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

@ 472f440f:5669301e

Marty's Bent

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

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

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

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

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

Make some noise!

Bitcoin Adoption by Power Companies: The Next Frontier

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

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

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

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

Headlines of the Day

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

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

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

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

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

Sign Up

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

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Final thought...

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

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

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

@ 9ca447d2:fbf5a36d

Metaplanet Inc. has bought 1,088 more bitcoin (BTC), and now holds 8,888 BTC worth over $930 million. This puts Metaplanet in the top 10 corporate bitcoin holders, ahead of Galaxy Digital and Block Inc.

Metaplanet Inc. on X

The company’s CEO Simon Gerovich announced the purchase on X on June 2, 2025. The company bought the new BTC at an average price of around $107,771 per coin, costing the company approximately $117.3 million.

The company said this purchase brings them 90% of the way to their 2025 goal of 10,000 BTC.

Metaplanet only started its bitcoin treasury policy in April 2024 but has been moving fast. At the start of 2025, it had less than 2,000 BTC, and now it has over 8,800.

This has been done through a combination of stock rights exercises and bond issuances, raising capital without diluting existing shareholders. In May 2025 alone, Metaplanet issued zero-coupon, non-interest-bearing bonds for a combined value of $71 million.

According to the filings, the company recently completed its “21 Million Plan” which was a program that involved the full exercise of 210 million stock acquisition rights.

These stock rights allowed Metaplanet to raise capital through equity sales while limiting dilution risk.

Metaplanet’s Bitcoin strategist, Dylan LeClair, said the company views bitcoin as a core part of its financial strategy and is all in, not just making small allocations.

Metaplanet’s buying has paid off in more ways than one.

Its BTC Yield, a company metric that compares bitcoin holdings to total shares, has impressed investors. In Q2 2025 it had a 66.3% BTC Yield, year-to-date it has a 225% BTC Yield.

Metaplanet BTC Yield over time — Vincent on X

The stock is up 155% in the last month and is currently trading at 1,149 JPY, despite the overall volatility in the Tokyo Stock Exchange—where many other companies are under pressure due to the rising Japanese bond yields.

Analysts say the company still has more room to run.

Analysts say the company’s mNAV is back to 4.75 and the stock is undervalued compared to Strategy.

mNAV is short for “multiple of Net Asset Value” and is a metric used to compare the market’s valuation of a company to the actual value of its assets, primarily its bitcoin holdings.

Metaplanet is called “Japan’s Strategy”, a reference to Michael Saylor’s Strategy, the U.S.-based company that holds over 580,000 BTC—the most of any company in the world.

The corporate bitcoin boom isn’t stopping with Strategy and Metaplanet. On May 28, 2025 GameStop announced it had bought 4,710 BTC, worth over $512 million, its first foray into bitcoin after updating its investment policy this year.

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Marty's Bent

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

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

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

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

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

Make some noise!

Bitcoin Adoption by Power Companies: The Next Frontier

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

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

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

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

Headlines of the Day

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

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

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

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

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Final thought...

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

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From designer Anna Cairns, the workhorse monospace typeface is rooted in feminist theory.

Across CMM Coda’s subtly imperfect, analogue-inspired letterforms – based on the IBM Selectric typewriter’s typeface, Dual Basic – Anna practically and conceptually brings together the feminist legacy of software and typewriters with the aesthetic sensibilities of the genre associated with the industry. Additionally, CMM Coda enables Anna to explore her intrigue in the blurry terminology used in text production, such as typing, coding and writing, “especially now that most text is created digitally,” Anna says, with typefaces being software in their own right. “We also associate a certain look with each of these modalities,” she continues, “so my idea was to create a typeface that can jump all of these genres simply through a play with white space,” an approach that resulted in CMM Coda’s multiple styles.

Learn more about Comma at https://commatype.com/, a new foundry founded by the Berlin-based type designer Anna Cairns.

Continue reading at https://www.itsnicethat.com/articles/comma-type-cmm-coda-graphic-design-project-110625

https://stacker.news/items/1004142

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Para um brasileiro, pode ser difícil entender como as estações do ano são capazes de influenciar o imaginário e a própria organização da sociedade.

Mas em países de clima temperado ou frio, onde primavera, verão, outono e inverno são mais demarcados, é contagiante a alegria com que o verão é celebrado, depois de meses de dias curtos, temperaturas frequentemente negativas e poucas possibilidades de interação social.

É por isso que desde os tempos mais antigos, as primeiras civilizações europeias já tinham festas específicas para celebrar tanto a chegada da primavera — a volta da vida desabrochando — quanto o solstício de verão — o ápice do sol, o dia mais longo do ano.

E, segundo pesquisadores, são esses dois tipos de celebração, depois abraçados pelo catolicismo, que explicam a origem das festas juninas, que no Brasil acabariam sendo reinventadas com um sotaque próprio.

"As origens são mesmo as antigas festas pagãs das antigas civilizações, ligadas aos ciclos da natureza, às estações do ano. Sociedades antigas realizavam grandes festividades, com durações longas, até de um mês, sobretudo nos períodos de plantio e de colheita", contextualiza o pesquisador de culturas populares Alberto Tsuyoshi Ikeda, professor da Universidade de São Paulo e consultor da cátedra Kaapora: da Diversidade Cultural e Étnica na Sociedade Brasileira, da Universidade Federal de São Paulo (#Unifesp).

"A primavera era bastante comemorada, como o reingresso da vida mais dinâmica, o rebrotar da natureza e das atividades depois do período do inverno, sempre de muita dificuldade, luta pela sobrevivência e recolhimento", comenta ele.

Se nessa época do ano o que se via era a explosão da natureza, a vida social espelhava isso. "Os grupos humanos realizavam grandes festividades dedicadas à própria natureza, muitas vezes rendendo homenagens aos antigos deuses relacionados à natureza, à vida animal, à vida vegetal de um modo geral. Eram festas comunitárias com muita alegria, muita alimentação e reunião de pessoas em grande número: foi o que deu origem às festas juninas que a gente conhece no Brasil e em outras partes do mundo."

Autora do livro Festas Juninas: Origens, Tradições e História, a socióloga Lucia Helena Vitalli Rangel, professora na Pontifícia Universidade Católica de São Paulo (PUC-SP), explica que a origem das festas juninas está nos "rituais de fertilidade agrícola" de diversos povos — da Europa, do Oriente Médio e do norte da África.

Os [mitológicos] casais #férteis #Afrodite e Adonis, Tamuz e Izta, Isis e #Osíris eram homenageados nesses #rituais, pois representavam a reprodução humana, numa época de evocação da colheita", afirma.

"Eram rituais para que a colheita fosse farta e para abençoar o próximo período #agrícola. Era período de congraçamento, de partilha e estabelecimento de alianças entre as comunidades. Eram rituais de fartura e abundância em todos os sentidos, no âmbito alimentar e na relação entre as famílias: casamentos, batizados e compadrio."

"No hemisfério norte o solstício de verão era o auge do período ritual e do trabalho agrícola coroado pela colheita", acrescenta a socióloga.

Vale ressaltar o óbvio, para que não fique um certo estranhamento ao leitor menos atento: no hemisfério norte, origem de tais celebrações, as estações do ano são invertidas em relação ao hemisfério sul, onde está o Brasil.

Apropriação católica

Mas onde então entram os santos nessa história? Na festa junina contemporânea, estão presentes algumas das figuras mais populares do catolicismo — e isso acabou impregnado de tal forma na celebração que a religiosidade se misturou ao folclore e às tradições populares, transcendendo os ritos normatizados pela Igreja Católica.

O primeiro dos santos juninos é Antônio (? - 1231), frade franciscano de origem portuguesa que ficou conhecido pelo que fez na Itália no início do século 13. Com fama de milagreiro, foi canonizado pela Igreja onze meses depois de sua morte — trata-se de um recorde até hoje não superado na história do catolicismo.

No imaginário popular, Antônio se tornou o #bonachão santo das coisas perdidas, sobretudo nos países europeus, e o casamenteiro, principalmente em Portugal e no Brasil. #Simpatias, #promessas e orações específicas marcam a devoção a ele. E sua presença nos festejos juninos geralmente está ligada a essas tradições — a Igreja fixou o 13 de junho, data da morte dele, como dia consagrado ao santo.

Em 24 de junho, o catolicismo celebra o nascimento de João Batista (2 a.C - 28 d.C.). É o santo máximo das comemorações juninas — há versões que apontam que originalmente eram "festas joaninas" e não festas juninas; e, sobretudo no nordeste brasileiro, a Festa de São João é um evento de dimensões impressionantes.

Personagem de historicidade controversa, João Batista é apontado como primo de Jesus Cristo e aquele que o batizou.

Em seu livro O Ramo de Ouro, o antropólogo escocês James Frazer (1854-1941) diz que ocorreu um processo histórico "de acomodação", deslocando para a figura de São João Batista a comemoração do solstício de verão.

Por fim, o mês de junho ainda tem a data do martírio de São Pedro (? - 67 d.C) e São Paulo (5 d.C. - 67 d.C.), dois dos pioneiros do cristianismo. Pedro foi um dos 12 apóstolos de Jesus e acabou depois considerado o primeiro papa do catolicismo.

Paulo de Tarso, por sua vez, é reputado como um dos mais influentes teólogos da história. Parte significativa dos textos que compõem o Novo Testamento da Bíblia é atribuída à sua pena. É dele, portanto, a autoria de parcela considerável da ressignificação de Jesus Cristo após sua morte na cruz — em outras palavras, é possível dizer que Paulo é responsável pela transformação de Jesus em um mito.

Uma observação necessária: apesar de a Igreja celebrar em conjunto a memória do martírio de Pedro e de Paulo, por tradição este último nem sempre é associado aos festejos juninos.

À medida que o catolicismo foi se transformando em religião do status quo, sobretudo a partir da cristianização do Império Romano, no ano de 380 d.C., diversos rituais tratados como pagãos acabaram sendo abraçados e apropriados pela Igreja. "A Igreja Católica não pôde desmanchar essas práticas", reconhece Rangel.

Com os rituais de primavera e verão, não foi diferente. "Várias dessas festividades foram adaptadas", conclui Alberto Ikeda, da USP. "Aos poucos passaram a ser tratadas como festas em honra aos santos juninos."

"Mas é importante notar que mesmo dentro do ciclo cristão, esses santos estão ligados tematicamente com aquelas mesmas ideias, os mesmos princípios das festividades [dessa época do ano] das antigas civilizações", pontua o pesquisador.

Santo Antônio, por exemplo, é o casamenteiro — em uma leitura lato sensu, poderia ser encarado como o santo da família, da unidade familiar, da reprodução humana. "São João também está ligado, sobretudo nos interiores do Brasil, a essa questão dos relacionamentos afetivos. Tradicionalmente, faz-se muito casamento no Dia de São João", diz Ikeda.

"Ele também traz a característica da fartura [que remete aos períodos de plantio e de colheita, em oposição aos rigorosos invernos], dos alimentos, das bebidas, aquilo que chamamos na antropologia de repasto ritual ou repasto cerimonial", afirma o pesquisador.

De modo geral, na leitura proposta por ele, todos os santos juninos estão ligados aos ciclos da natureza — fogo, água, fertilidade, abundância. Está aí São Pedro e a ideia de que ele é quem controla o tempo. "Vejo uma relação entre eles e os antigos rituais, uma relação ainda presente.

Embora a gente não perceba mais, eles têm essa ligação com os elementos fundamentais da existência humana", comenta.

Nas festas populares essas forças da natureza se fazem representadas, muito além da mesa farta.

Os mastros juninos que são erguidos representam a potência dos troncos, das árvores que resistem ao inverno. A fogueira é a luz: ilumina, aquece, afugenta animais ferozes, assa os alimentos.

Na releitura contemporânea, portanto, as festas juninas "guardam as reminiscências das ancestrais aglomerações festivas", conforme frisa Ikeda.

Tradição brasileira

Paçoca, pamonha, pipoca, bolo de fubá, canjica, curau, pé de moleque, maçã do amor. Vinho quente e quentão. Brincadeiras de pular fogueira e dançar a quadrilha. Chapéu de palha, camisa xadrez, calça com remendos. Bombinhas e rojões, fogos de artifício. Bandeirinhas coloridas penduradas em varais de barbante.

No Brasil, as festas juninas foram reinventadas e se tornaram uma exaltação das raízes caipiras. E muito além da religiosidade, tornou-se tradição, folclore. Como se o ciclo se fechasse: o que nasceu como ritual gregário, de celebração social, e depois foi apropriado por uma religião dominante, acabou na cultura popular sendo devolvido ao sentido original — ou seja, a festa pela alegria de festejar.

Não à toa, a folclorista Laura Della Mônica registrou em seu livro Os Três Santos do Mês de Junho que "respeitar as festas e orações dedicadas a cada um dos três santos do mês de junho, segundo a tradição, é obrigação e dever de todos nós, pelo menos culturalmente". O "todos nós" é o brasileiro. Porque mesmo nascida no Velho Mundo, as festas juninas assumiram uma identidade própria em território nacional.

"A colonização da América colocou novamente a questão [da apropriação cultural] para os jesuítas e todos os religiosos que se instalaram no continente sul-americano", pontua a socióloga Rangel.

"No caso do Brasil, houve uma coincidência do calendário. No inverno seco, o solstício de inverno marca o período dos trabalhos agrícolas mais importantes. Do mesmo modo que, para os povos do hemisfério norte é o período de rituais de fertilidade, [a festa por aqui também vem] com as mesmas características, congrega as famílias na evocação da abundância."

As tradições regionais guardam suas especificidades, como era de se esperar em um país de dimensões continentais. "Sempre foram festas e rituais populares", salienta Rangel.

"No Brasil temos expressões regionais muito fortes: o São João nordestino, o Boi Bumbá da região norte, o Boi de Mamão no sul, Cavalhadas no centro-oeste e as festas do Divino Espírito Santo e muitas regiões, particularmente no estado de São Paulo."

A pesquisadora comenta que "conforme os padres vão chegando nas paróquias, começam a interferir nas comemorações". É quando vem o sincretismo: a festa popular também é festa católica, a quermesse organizada pela igreja também tem os rituais populares.

"Até hoje as paróquias, as igrejas, realizam festas juninas. Mesmo que as maiores festas estejam predominantemente tendo somente o caráter festivo, mais comercial, de exploração pelo ganho financeiro, as igrejas continuam fazendo comemorações aos santos juninos", pontua Ikeda.

"Embora muitas pessoas não católicas também participem das festas, embora predomine uma visão genérica que as festas juninas não guardam mais relação com a religiosidade, há ainda um relacionamento das igrejas com esses santos juninos."

Para ele, a evolução da festividade consiste no fato de que "toda aglomeração possibilita o incentivo ao comércio". "E a alimentação está neste centro, na busca mesmo do repasto cerimonial e festividades, danças e músicas que sempre estiveram ligados aos antigos rituais." Ikeda lembra que a as festas populares têm uma importância antropológica por serem "práticas gregárias que ciclicamente comemoram a própria constituição, a própria existência das comunidades enquanto coletividade, a reunião de grupos humanos que preservam uma história comum".

"No caso da feste junina, esse vestir-se de caipira, simbolicamente, é um instrumento de importância até emocional e psicológico para as pessoas se sentirem com a identidade ligada ao passado, aos pais e avós que praticavam aquilo, comemorando de forma parecida", analisa o pesquisador.

"Assim, a prática possibilita a guarda de uma continuidade ao longo do tempo."

Suspensão sanitária

Nunca é demais enfatizar: com a pandemia de covid-19 ainda fora de controle, seria uma péssima ideia realizar qualquer tipo de festa neste período — se quer comemorar, faça em casa somente com seu núcleo familiar. Então, 2021 será o segundo ano consecutivo em que o Brasil não terá, ao menos de modo ostensivo, a tradição das festividades com bandeirinhas coloridas. Doutora em História das Ciências da Saúde e autora do livro A Gripe Espanhola na Bahia, a historiadora Christiane Maria Cruz de Souza afirma que esse cancelamento não ocorreu nem na epidemia de 100 anos atrás.

Isto porque a gripe chegou ao Brasil bem depois dos festejos de 1918. E, no ano seguinte, a epidemia estava controlada. "A gripe espanhola não teve nenhuma interferência no São João. Os primeiros registros da doença apareceram em setembro de 1918 e a doença foi se extinguindo aos poucos. Em Salvador, ele não avançou para o ano de 1919. Houve alguns surtos, em lugares mais remotos, até 1920, mas sem caráter epidêmico."

É de se supor, inclusive, que as festividades de 1919 tenham sido ainda mais animadas. "Passada a epidemia de gripe espanhola, tudo o que as pessoas queriam eram esquecê-la", afirma Souza.

Em 20 de junho de 1919, entretanto, surgiram os primeiros registros indicando uma epidemia de varíola na capital da Bahia. "Começaram a aparecer um caso aqui, outro ali, mas ainda sem a força suficiente para poucos dias depois interditar os festejos de São João", nota a pesquisadora.

"As autoridades sanitárias demoraram muito para reconhecer que ocorria uma epidemia terrível de varíola. Autoridades públicas só costumam reconhecer a existência de uma epidemia quando se torna inevitável devido ao acúmulo de adoecimentos e mortes, quando o número de doentes e mortos ultrapassa a normalidade esperada para os casos da doença. Isso demora um tempo."

Rangel ressalta, inclusive, que até a primeira metade do século 20, as festas juninas eram muito menores, restritas a familiares e pequenos grupos comunitários. Muito menos do que os eventos de hoje em dia. "Eram festas de arraial, de quintais, de quermesses", diz. "Elas só se transformaram em grandes espetáculos na segunda metade do século 20, na esteira da espetacularização do carnaval."

Fonte: BBC News 18 Junho 2021

@ 5627e59c:d484729e

My life is my way Home\ My death is my arrival

I can't wait to be Home\ And so I love life

I can't wait to be Home\ And so I want to live to the fullest

For there are no shortcuts

Many people die\ And never make it Home

They will have to wait\ For another chance to die

Another chance to live fully\ And die totally

I'm so thankful to be alive\ I'm on my way Home

I'm so thankful to be alive\ To have another chance to die

Every day I take a step\ In the direction of my death\ I do not postpone it

Every day I take a step\ In the direction of my truth\ I do not avoid it

It is who I am, always have been\ And always will be

It lies beyond that door\ That keeps everything in check

Where only can go through\ Which is forever true

@ 57d1a264:69f1fee1

Her work explores the intersection of tradition and innovation in wheel-thrown ceramics. Rooted in time-honored techniques, she push the boundaries of clay’s structural possibilities—incorporating hollow tubes, flat rings, curves, and trimmed ridges to create forms that feel both organic and futuristic. These experimental designs challenge gravity and balance, evoking a space-age aesthetic while remaining deeply connected to the tactile nature of craft.

Discover Dara's work at https://www.daraschuman.com/pages/2024

https://stacker.news/items/1004131

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Bitcoin Magazine

Michael Saylor: The Bear Market Is Not Coming Back And Bitcoin Is Going To $1 Million

Today, the Executive Chairman and CEO of Strategy Michael Saylor commented on the company’s aggressive Bitcoin-based strategy in a recent interview at Bloomberg, emphasizing that Bitcoin is not going to zero, it is going to $1 million.

“I think we’re in a digital gold rush and you’ve got ten years to acquire all your bitcoin before there’s no bitcoin left for you,” Saylor said. “The competition is a virtuous competition.” 

JUST IN: Michael Saylor said the bear market is not coming back and Bitcoin is going to $1 million

pic.twitter.com/J4sn80LMzs

— Bitcoin Magazine (@BitcoinMagazine) June 10, 2025

Saylor also said that Bitcoin is not going to have bear markets anymore and the price is going to $1 million per coin.

“Winter is not coming back,” commented Sayor. “We are past that phase. If Bitcoin is not going to zero, it is going to $1 million. The President of the United States is determined. He supports Bitcoin, the cabinet supports Bitcoin, Scott Bessent supports Bitcoin, Paul Atkins is shown himself to be an enthusiastic believer of Bitcoin and digital assets… Bitcoin has gotten through its riskiest period.”

He also pointed out that international firms are rapidly entering the space.

“Metaplanet is the hottest company in Japan right now, they went from $10 million to a $1 billion market cap to a $5 billion market cap. They’re going to raise billions of dollars. They’re going to pull the liquidity out of the Japanese market. So they’ll be raising capital in Tokyo and the Tokyo Stock Exchange… It’s not competitive. It’s cooperative.”

Strategy’s approach is far from traditional. The company is not just buying and holding Bitcoin; it is building financial instruments around it, which Saylor believes sets them apart.

“Our company has a very particular business model,” he stated. “It’s to issue Bitcoin-backed credit instruments like Bitcoin-backed bonds and especially Bitcoin-backed preferred stocks. We’re the only company in the world that’s ever been able to issue a preferred stock backed by Bitcoin. We’ve done three of them in the past five months.”

Rather than viewing Bitcoin treasury holdings or ETFs as competitors, Saylor explained that Strategy is targeting a different segment of the market entirely.

“We’re not competing against the Bitcoin treasury companies. We’re competing against ETFs like PFF that have portafolios of preferred stocks or corporate bond portfolios that are trading as ETFs in the public market, and the way we compete is we offer 400 basis points more yield on an instrument that is much more heavily collateralized and more transparent… That’s $100 trillion or more of capital in those markets,” explained Saylor.

He emphasized that Strategy’s Bitcoin balance sheet gives it a unique edge, giving the company the ability to design unique financial products.

“Our advantage is that we’re 100% Bitcoin… It’s impossible to issue Bitcoin-backed convertible preferred and Bitcoin-backed fixed preferred unless you’re willing to make 100% of your balance sheet Bitcoin.”

“I’m not really worried about competition from JPMorgan or Berkshire Hathaway,” concluded Saylor. “I would love for them to enter the Bitcoin space, buy up a bunch of Bitcoin. When they do it, they’ll be paying $1,000,000 a Bitcoin. The price will go to the moon.”

This post Michael Saylor: The Bear Market Is Not Coming Back And Bitcoin Is Going To $1 Million first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

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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 .deb installs to use older gzip instead of zstd compression, and removed display of median fee rate where fee rates source is set to Server.

Learn how to get started with Sparrow wallet:

Release notes (v2.2.0)

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

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

What's new in v2.2.1

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

Announcement / Archive
GitHub Repo

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引言

AI 技术的突飞猛进正重塑国家间博弈的格局。在可预见的未来，人工智能（AI）将推动国家实力的重新构建。OpenAI CEO Sam Altman 指出，未来几年内人类可能迎来“温和奇点”，大量工作将由AI取代blog.samaltman.com；Anthropic（Claude AI背后公司）的CEO则警告，美国失业率可能因AI而飙升至两位数甚至约20%finance.sina.com.cn。这意味着 AI 带来的生产力飞跃伴随严峻的社会阵痛，各国政府必须争夺AI制高点以掌控未来竞争优势——正如俄罗斯总统普京早在2017年所言：“谁掌握了AI，谁就能统治世界”axios.com。因此，中美两国均将AI视作国家战略高地，在这一动态博弈中展开竞逐。

然而，在AI集中赋能国家力量的同时，比特币作为决胜性变量悄然登上舞台。美国政界出现一种耐人寻味的观点：AI代表的是一种自上而下、可能强化集权的“左侧力量”，而比特币等去中心化创新属于“右侧力量”，可以对AI形成制衡eweek.com。2025年5月，美国副总统J.D.万斯（Vance）在比特币大会上的讲话就体现了这一点——他将AI称为左倾（共产主义式）的技术力量，而加密货币尤其是比特币被视为具有保守自由色彩的技术，能够平衡AI可能带来的集中化趋势eweek.com。

基于此背景，我们假设本轮技术周期中，比特币发挥了类“数字黄金”的作用并直接取代传统黄金地位：价格飞涨至38万美元以上，大批企业（如MicroStrategy）将比特币纳入资产负债表，视其为主权资产锚定的新基准。这一趋势下，美国加速将比特币和稳定币整合进官方金融体系，构建“美元+比特币”双层货币架构，通过稳定币扩散美元影响力并冲击他国法币insurancekhabar.cominsurancekhabar.com；反之，中国依然全面拒绝比特币（自2021年以来严禁加密交易和挖矿reuters.com），继续大举增持黄金作为储备，并押注自身央行数字货币。在这样的博弈版图下，比特币可能成为影响胜负的关键变量。

本文将基于博弈论视角构建动态多方博弈模型，以刻画上述格局中的关键问题：(1) AI推动下国家力量如何重构？为何各国必须争夺AI制高点？(2) 当AI导致国家权力高度集中时，比特币如何提供不可征收的资产锚定来形成网络化的反平衡力量？(3) 中美两种AI体制的博弈结构如何决定了中国在拒绝比特币条件下可能陷入失败，而美国则可借助“比特币+发钱”等政策缓和AI失业冲击？(4) 个体如何凭借比特币对抗“AI威权”，促使世界走向网络化的稳定新结构，而非陷入新冷战？文章将分为引言、模型结构、均衡演化路径和结论四部分，为高认知读者提供一个严谨而富有现实感的战略研判框架。

模型结构

**参与方与策略定义：**本博弈模型涵盖三个主要行动方：（a）国家行为体（主要是中、美两国），（b）企业级主权力量（大型科技企业、持有比特币的大型公司等），以及（c）普通个体/公民与分布式网络。这是一个多维博弈：既包括AI竞赛这一技术军备维度，也包括以比特币为代表的新型金融资产维度，以及国家与个体间权力再平衡维度。

1. 国家（中、美）在AI领域的竞争：中美视AI为获取综合国力的战略高地，均有强烈动机投入巨资抢占领先位置。AI具有明显的赢家通吃效应，领先者可能在军事、经济、信息控制等方面获得压倒性优势axios.comeconomictimes.indiatimes.com。正如普京和Palantir公司CEO的判断，AI竞赛极可能“只有一个赢家”，要么美国胜出要么中国胜出axios.comeconomictimes.indiatimes.com。因此在博弈模型中，争夺AI主导权是双方的首要策略选择，每一方都不能放松——这类似于囚徒困境中的军备竞赛：任何一方停止努力都可能被另一方弯道超车从而“称霸世界”。

2. AI导致的权力集中与国家内部博弈：AI大规模替代人类劳动将显著提高生产率，同时造成结构性失业和财富向掌握AI技术的精英/资本高度集中blog.samaltman.comfinance.sina.com.cn。这会强化国家机器和大资本对社会的控制力（例如利用AI进行大规模监控、无人武器等），使国家权力相对个体更为集中。博弈模型中，各国政府面临内部稳定博弈：如何安抚因AI失业而不满的公众，同时继续巩固自身执政联盟。在民主国家（如美国），执政联盟规模大（需要赢得广大选民支持），政府倾向于提供公共物品或直接发放补贴以维持民众满意度blog.devtang.comblog.devtang.com。例如，Altman就预测未来社会因为AI冲击会出现“新政策创想”和渐进式的新社会契约blog.samaltman.com——这暗示可能出台普惠式补贴/UBI等政策，即所谓“发钱政策”，以缓和失业阵痛。而在威权体制（如中国），执政“致胜联盟”小而精英化blog.devtang.com，“核心支持者”的利益优先于大众利益blog.devtang.com。此时政府可能更倾向通过强化控制和定向利益输送维持稳定，而不是普惠发钱。一旦由于财政收入锐减或经济失速导致无法满足联盟利益，政权稳定将受到威胁blog.devtang.com。因此在模型中，不同体制下政府选择的内部应对策略截然不同：民主政权偏好通过财富再分配稳住大联盟，威权政权则偏好强化控制、保障小联盟利益。但AI带来的挑战规模空前，威权政府若无足够“弹药”（财政盈余或新型资产）去收买人心，就可能出现“致胜联盟”维持困难，即财政失衡引发政权不稳blog.devtang.com。

3. **货币金融维度的博弈：**这是模型的第二维——围绕全球储备资产和货币体系的新博弈。假设情景下，美国选择拥抱比特币和稳定币，将其纳入国家金融战略，而中国选择拒绝比特币坚守黄金。那么各自的策略及收益如下：

4. 美国策略：整合比特币+美元，推广稳定币。具体包括：允许并鼓励机构大量持有比特币，将其视为“数字黄金”储备；政府通过立法完善稳定币监管（如推出《GENIUS稳定币法案》等）以扩大美元稳定币的全球使用nevadacurrent.comnevadacurrent.com；甚至总统令建立国家比特币战略储备reuters.com。预期收益：一方面，比特币价格飙升带动美国持有者财富上升，MicroStrategy等公司已尝到甜头，资产负债表上囤积了价值400亿美金以上的比特币finance.sina.com.cn。华尔街分析师预测，比特币有望在未来十年最终取代黄金成为首要价值存储，finance.sina.com.cn甚至特朗普政府内部有人倡议卖出黄金储备改买比特币finance.sina.com.cn。另一方面，美元稳定币的大规模推广巩固了美元霸权：全球用户在链上广泛使用美元稳定币，相当于变相扩大美元的影响圈insurancekhabar.cominsurancekhabar.com。稳定币背后的储备主要是美国国债，这意味着稳定币越多，美国国债需求越大，从而压低美国融资成本insurancekhabar.cominsurancekhabar.com。有专家指出，美国大力推动加密货币和稳定币，是看中了它们可以成为经济武器：“稳定币将取代外国政府，成为美债最大买家”insurancekhabar.com。这为美国在AI时代实施大规模财政转移（如发放失业补贴、科技红利）提供了弹药：全球对美元资产的需求使美联储有更大余地印钞而不致本币崩溃。简言之，美国整合比特币+稳定币体系，可强化其金融主导权和财政灵活性，既能对外输出通胀、打击他国法币，又能对内从容应对AI失业的救济开支。

5. 中国策略：拒绝比特币，囤积黄金+推数字人民币。中国自2017-2021年对加密货币连出重拳（取缔交易所、禁止矿业、封锁境内交易）reuters.com，“宁要区块链，不要加密币”的政策表明其决心彻底隔绝比特币等去中心化货币。取而代之，中国持续加码黄金储备：据央行公告，中国已连续多月增持黄金，官方储备突破2000吨并仍在增长中（此举在地缘政治不确定性下尤为明显）。同时，中国大力推广央行数字货币（数字人民币），试图在国内实现对货币流通的全面可控，并谋求在国际贸易中推动人民币结算。预期影响：由于拒绝比特币，中国希望通过黄金提升本币信用，通过数字人民币强化资本管制和货币政策独立性。然而此策略的风险在于，若比特币在全球范围内取代黄金地位，中国将错失这一新型储备资产红利。当美国等推动比特币升值并将其金融化时，中国手中的黄金可能相对贬值或增长滞后。此外，稳定币对他国法币的冲击也波及人民币：虽然中国严格限制境内稳定币流通，但在跨境贸易和地下金融中，美元稳定币和比特币可能绕过管制，被企业和富裕阶层用于对冲人民币贬值或资本外逃。这相当于一个金融围堵：美国利用数字货币在全球吸纳流动性，削弱人民币在“一带一路”等领域的渗透。中国若坚持封锁比特币和民间加密交易，可能面临“两难”：要么严厉执法资本管制、牺牲部分经济自由和国际化进程；要么在全球数字经济中逐渐边缘化，被排除在新金融网络之外。总之，中国此策略短期内保障了国家对金融系统的控制权，但长期存在与世界脱节、储备资产单一（黄金）的隐患。

6. 个体与网络力量的崛起：第三个维度的博弈发生在国家 vs. 个体/分布式网络之间。AI和加密技术的发展，使得一批技术公司和个人获得了前所未有的自主力量——他们可以同时获取AI赋能和持有不可被国家任意剥夺的财富（比特币）。在模型中，这些分散的个人/企业构成一张跨国网络，他们的策略是利用技术和资本的流动性在全球范围内“择优而居”。如果某国政策有利（如美国欢迎加密创新、提供完善法律保障），人才和资金就会流向该国；反之，若政策高压（如中国禁止民间持币、严格审查AI应用），那么这些人才与资金可以通过数字途径逃逸（capital flight）。比特币在其中充当关键的**“退出票”（exit option）：它具有强抗审查和无法被没收的属性，保障了私人财产的自由转移nymag.com。“比特币无法被当局像没收黄金那样没收，无法像银行账户那样随意冻结，亦无法像法币那样被央行肆意贬值或被独裁者通过资本管制任意阻断”nymag.com。这一属性意味着个人第一次拥有了对抗国家财权的有效工具**。在博弈模型中，个体玩家的存在使国家行为体不再是单纯的统一行动者——国家内部会因为个人/企业的选择而出现博弈反馈：如果政策过于损害个人利益，他们有能力通过比特币等手段规避，从而削弱国家政策效果。这相当于在国家与国家的对局中，引入了一个“平衡器”——全球网络化个人势力。他们的目标并非争夺领土或传统主权，而是在寻求“个体主权”最大化：自由拥有财富、自由迁徙和创新、不受制于单一政府。这股力量在AI时代尤为重要，因为AI集中化倾向可以被这种分散网络部分抵消。例如，AI赋能下的个人黑客、科技创业者可以不依赖国家资本也开发出强大模型；若遭遇压制，他们可携带比特币远走他国继续创业。博弈的结果将取决于国家能否与这股网络力量共存，以及在多大程度上满足个人对自由与财富安全的需求。

均衡演化路径

基于上述模型结构，我们推演中美博弈及全球格局的动态演化路径。博弈分阶段进行，各阶段的策略互动将把体系推向不同的均衡态。

阶段1：AI军备竞赛与金融布局（现在至近期）。这一阶段中美都全力投入AI研发，以获取先发优势。双方持续加大对半导体、算法和人才的投入，并在国际规则上博弈（如出口管制、人才签证等）。博弈特征类似“军备竞赛”：任何单方面的松懈都会导致对手大幅领先，因此均衡结果是双方都倾向投入高强度资源，直至边际成本难以承受。与此同时，双方在金融领域开始布局各自阵地：美国在2024-2025年间通过了一系列亲加密政策——国会推进稳定币立法以合法化美元稳定币nevadacurrent.com，“数字资产市场结构”法案呼之欲出；行政层面，特朗普政府下令创建国家比特币储备，将执法机构此前持有或没收的比特币纳入战略储备reuters.com。这些举措表明美国意在将比特币作为国家金融武器的一部分来运用。相应地，比特币市场开始出现质变：主流机构投资者蜂拥而入，现货比特币ETF获得批准且规模激增，短短时间累积数千亿美元资金finance.sina.com.cn。比特币价格屡创新高并稳定在六位数美元以上，朝着20万、30万甚至更高的目标迈进finance.sina.com.cn。企业层面，MicroStrategy等公司持续买入，比特币在一些公司资产负债表中的地位堪比现金储备finance.sina.com.cn。美国的这一系列动作，使其在**“新数字货币冷战”**中占得先机：美元+比特币组合开始对全球产生强磁吸效应。

反观中国，同期则进入防御性应对状态。面对美国的金融攻势，中国加快了增储黄金和数字人民币试点的步伐，以图筑牢本国金融壁垒。中国人民银行连续数月购入黄金，insurancekhabar.com黄金储备量创历史新高；数字人民币从国内零售场景逐步推广到跨境贸易结算试验，通过区域性协议在部分周边国家开展本币结算合作，以降低对SWIFT美元体系的依赖。同时，中国严格执行对加密活动的严打，关停剩余的OTC交易渠道，宣示绝不让比特币等威胁人民币的货币主权。此阶段的结局是：两个平行的货币体系开始成形——一个是美元主导并吸纳比特币、稳定币的新体系；一个是人民币主导、辅之以黄金背书的封闭体系。

阶段2：AI红利与冲击释放（中期，未来5-10年）。随着AGI雏形和通用机器人逐步出现，人类劳动大规模被替代的效应开始凸显blog.samaltman.com。在美国，AI带来的效率红利令GDP和企业盈利大幅增长，但“技术失业”也引发社会不安。finance.sina.com.cn美国失业率假设攀升至15-20%，尤其白领和服务业岗位大量消失。幸运的是，由于美国及时进行了金融上的前瞻部署，此时财政手段具备充足火力来应对危机。一方面，比特币的暴涨和广泛持有为部分中产和企业带来了资产增值——例如，有投资比特币的家庭财富逆势上涨，部分失业者因持有数字资产而有缓冲储备。政府则可以选择性对这些资产增值征税或者发行主权数字货币购买比特币，实现财政增盈。另一方面，更重要的是**美联储和财政部得以大规模“直升机撒钱”**而不致引发债务危机，这是美元稳定币全球盛行带来的特权insurancekhabar.com。由于全球大量资金以购买美国国债作为稳定币储备，insurancekhabar.com美国政府可以在通胀可控范围内发行货币、扩大赤字以资助全民基本收入或就业项目。比特币在美国的官方接受度也使发钱政策更容易实施：政府完全可以将数字美元直接发送到每个公民的手机钱包（甚至部分用比特币形式发放科技红利）。公众虽然对AI取代工作有所焦虑，但在政府真金白银的兜底下，基本生活有保障，社会动荡被控制在最低程度。这印证了Altman的预言：AI时代世界将更富裕，因此能够“认真考虑以往不可能的新政策”blog.samaltman.com。美国通过比特币财富效应和激进财政政策，初步缓解了AI带来的内部矛盾，其民主制度下“大联盟”的稳定性得以维持。

与之对照，中国在中期则可能面临更严峻的平衡难题。AI同样推动了中国经济的效率，但也使大量制造业和服务业劳动力冗余化。由于缺乏比特币等新财富渠道，大部分民众财富并未随技术进步而增长，反而因失业潮而缩水。民间投资渠道狭窄（楼市低迷、股市震荡），社会的不满情绪上升。此时中国政府进退维谷：若执行大规模刺激或全民补贴，一方面没有储备的“数字资产红利”可用，只能动用巨额财政支出；但中国无法像美国那样让全球来分担本币超发的成本（人民币不是主要储备货币，超发会直接冲击汇率和通胀）。若强行印钞发钱，则可能引发人民币贬值和资本加速外逃，削弱执政信用。历史上来看，威权政府在财政吃紧时维系统治的成本急剧上升，很容易因为买不到执政联盟的忠诚而倒台blog.devtang.com。中国政府当然也深谙此理，因此更可能选择收紧财政、强化管控的方式渡过难关：例如动用警察力量维稳、加强舆论审查来减缓不满爆发。但这样的高压策略长期看难以为继，而且会进一步吓跑高端人才和资本。尤其在比特币价格连创新高的背景下，中国富裕阶层和企业势必更加渴望配置此类全球性资产来保值。一些人会通过地下渠道购入比特币和稳定币，然后设法转移资产出境（哪怕非法也在所不惜）reuters.comsciencedirect.com。这反过来又加剧了中国国内资本外流和财政紧张，形成负反馈。可以预见，如果中国仍拒绝比特币，其金融体系可能出现“致胜联盟”式失衡：政府要么牺牲外汇储备和黄金储备来稳住人民币、安抚利益集团，要么被迫局部放开对加密资产的管制以引回资金，无论哪种都意味着其此前的强硬策略难以持续。

阶段3：博弈格局转变与网络化均衡（远期，10年及以后）。经历中期震荡后，全球博弈格局将出现质变，进入新的均衡态。基于前述趋势，可以预见两种截然不同的结局：

• **美国阵营的胜出与中国策略调整：**如果美国在AI和金融两条战线上都占据了优势，那么远期均衡将体现为美国引领的“新技术-金融秩序”。届时比特币可能已稳固地成为全球储备资产的一极（类似数字黄金），各国央行和主权基金纷纷将其纳入资产配置。美元则通过稳定币牢牢占据全球结算和流动性中介地位。在AI方面，美国凭借开放创新环境汇聚了全球顶尖人才，实现技术持续领先。反观中国，若在中期尝到了拒绝比特币的苦果（经济停滞、财政吃紧、人才外逃），理性的策略调整将是不得不转向美国模式，以免彻底边缘化。这可能包括：逐步放松对加密资产的管制，甚至尝试推出国家主导的加密货币ETF，引导国有机构低调持有比特币以分享其增值；在外交上寻求加入由美国主导的数字货币国际框架，避免本国企业被排除在新贸易结算体系外。此外，中国会继续依靠其黄金储备试图为人民币背书，但如果比特币市值远超黄金且更受年轻一代青睐，黄金的锚定作用将大打折扣。可以说，中国此时面临类似19世纪末“银本位帝国”的困境——清朝因坚守白银而被新兴的金本位体系边缘化insurancekhabar.com；21世纪的中国若固守黄金标准而忽视比特币潮流，恐重蹈历史覆辙。有识之士将呼吁“中国不能错失数字黄金机遇”，倒逼政策松动。最终的均衡可能是：美国及其盟友掌握了AI与金融话语权，而中国被迫加入由比特币和美元构成的新体系，放弃之前的强硬抵制立场。这一结果虽非中国最初意愿，但总比被彻底孤立要好，犹如冷战后期苏联被迫融入布雷顿森林体系一样，是一种策略收缩下的妥协均衡。

• 网络化多中心格局的形成：无论中美博弈如何，此阶段一个更深刻的趋势是全球网络化权力结构的浮现。随着比特币深入人心和应用普及，每个个人和企业都相当于握有自己的“微型主权财富”。正如《主权个体》一书预言的那样，信息时代将削弱民族国家发动战争和征税的能力，取而代之的是个人在全球范围内自由组合、以市场方式选择治理的时代sites.northwestern.edu。当比特币成为“无法征收的资产”标配后，各国政府要汲取民财将更为困难，战争筹资也不再容易sites.northwestern.edu。这是因为：一旦某国大举加税或准备战时管制，资本和人才可以更快捷地逃往别处，政府很难像过去那样通过强制手段动员全国资源。一些论者甚至指出，“在一个基于比特币的社会里，政府若想发动战争，可能不得不向公民众筹军费”reddit.com——这无疑极大提高了发动战争的政治难度。在AI高度发达且武器智能化的背景下，这种网络化制衡力量尤为宝贵，它防止了超级大国因为掌控AI利器而为所欲为。举例来说，如果没有个人财产自由这一“安全阀”，那么拥有强大AI武器和监控系统的国家很可能毫无顾忌地倾压式统治甚至对外侵略；但有了比特币，精英和企业可以用脚投票，拒绝配合极权和战争企图——正如有人所说的，“你无法征税/掠夺那些你无法抓住的人”newstatesman.com。最终，全球可能形成一种“冷战阻止机制”：各国不敢轻易走向新冷战或热战，因为稍有风吹草动，资金和人才就会通过去中心网络逃逸，使战争难以为继。

因此，在远期均衡下，我们将看到国家、企业和个人形成一个互动博弈的多中心体系：国家不再拥有对经济和技术的单方面支配，个人与企业通过持有数字资产和掌握AI技术获得了谈判筹码，各方被迫合作共生而非你死我活。这并非传统意义上的“权力均衡”，而更像是一种动态的网络均衡——权力在不同层级和节点上分散，任何一方试图完全主导都会引发系统中其他节点的自动调节与抵制，最终回归稳态。

结论

综上所述，AI时代的中美博弈结构展现出“技术军备竞赛+金融货币博弈+内部治理较量”三位一体的格局。美国通过在AI和比特币两方面同时发力，形成“左手AI、右手比特币”的双拳策略，既争取了AI制高点，又利用比特币这一“不受征服的资产”稳固了内部与外部的平衡nymag.com。反观中国，倘若固守传统思维拒绝比特币，则在AI导致集权加深的同时失去了由比特币提供的网络化反平衡力量，极可能重现“致胜联盟”财政失衡和战略被动的局面。正如博弈模型分析所示，中国若不及时调整，将因无法有效吸纳AI红利、又无法借助新金融工具缓冲冲击，而陷入内外交困的困境；相反，美国通过比特币+发钱政策有望缓解技术失业压力，在维护社会稳定的同时进一步增强对外金融攻势，实现以较小代价度过转型阵痛。

更深一层的洞见在于：比特币作为“无法征收的资产”（unconfiscatable asset），为无数个人和企业提供了在AI强权面前自我保护和抗衡的手段nymag.com。它让个体可以自由掌控自己创造的AI收益和财富，不必担心随时被征用或剥夺，从而在国家与国家的博弈中引入了一个独立稳定器。这个稳定器确保了国家不敢轻启战争或极端压榨，否则公民的财富和才能将自动逃逸，令其损失巨大。这种机制有望阻止人类社会滑入新一轮两极对抗或热战冲突，因为权力过度集中将引发去中心网络的本能反制。取而代之，人类可能走向一种“网络化稳定结构”：在这个结构中，AI带来的繁荣由各国共享，但没有任何一方能垄断；比特币作为全球共同的价值锚和信任媒介，保障了个人基本财产权，从而软化了国家机器的锋芒。

对于高认知的决策者而言，这一博弈分析传递出明确的战略启示：拥抱比特币等去中心化创新，实际上是在为本国社会安装安全阀，避免因AI高度集中而产生体制性风险；同时，这也是在国际博弈中抢占未来金融体系的话语权。在AI与国家力量此消彼长的新时代，比特币扮演了关键的“平衡木”角色：它连接着国家与国家、国家与个人，确保没有人可以轻易掀翻整艘人类文明之舟。唯有善用这一新型稳定器，引导世界朝开放协作而非封闭对立演化，我们才能把握AI奇点带来的机遇，避免重蹈冷战或冲突的历史覆辙。人类社会或许将凭借这种网络化的平衡，在巨变中找到新的稳定与新秩序sites.northwestern.edu——在AI的洪流中乘风破浪，而非沉舟觅踪。

参考资料：

1. Sam Altman，《温和奇点》博文对AI发展的展望blog.samaltman.com

2. Anthropic CEO Dario Amodei，关于AI导致失业的警告finance.sina.com.cn

3. J.D. Vance 副总统在Bitcoin 2025大会讲话摘要，对AI和比特币的定位eweek.comreuters.com

4. Bernstein投行报告：比特币取代黄金的十年预测，MicroStrategy持币策略等finance.sina.com.cnfinance.sina.com.cn

5. Nevada Current对Bitcoin大会的报道：稳定币立法（GENIUS法案）进展nevadacurrent.comnevadacurrent.com

6. Reuters：特朗普行政令建立国家比特币储备、美国拥抱比特币对抗中国reuters.comreuters.com

7. Insurance Khabar：Deepak Garg 关于美中金融战与稳定币武器化的分析insurancekhabar.cominsurancekhabar.com

8. 《独裁者手册》理论：致胜联盟与政权稳定的关系blog.devtang.com

9. New York Magazine：《比特币无法被没收，不能冻结，不能由央行贬值》nymag.com

10. 《主权个体》观点：信息技术削弱国家征税和战争能力sites.northwestern.edu

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中美近期谈判的博弈分析：模型、均衡与演化前景

一、背景与问题概述

2025年中美经贸谈判出现了最新进展：中国同意恢复出口稀土（包括稀土磁体等关键材料），美国则在中国留学生签证政策上作出让步，但双方并未在关税上相互让步，仍维持高额关税壁垒reuters.comreuters.com。这一结果是中美经贸冲突持续多年的阶段性产物。在此之前，中美互征高额关税、一度接近全面“脱钩”，双方还通过稀土出口管制和留学签证限制等手段施压对方，导致贸易额大幅下滑、供应链紧张axios.comenglish.kyodonews.net。这一局势引发了以下博弈论层面的核心问题：当前达成的部分妥协是否构成某种博弈均衡？如果是，这属于短期策略性均衡，还是预示着中美关系可能进入类似冷战的长期对峙均衡？此外，未来有哪些外部冲击因素可能打破当前均衡或使其演化为新的稳定态？本文将以博弈模型框架对此进行分析，探讨多种均衡形态（包括但不限于纳什均衡、“科尔奈-科曼达”均衡、演化均衡等），评估其稳定性，并结合历史经验和现实因素展望演化路径。

二、博弈模型框架

1. 博弈参与者与利益：博弈双方为中国和美国，两国均为战略理性参与者。双方利益既有冲突也有重叠：中国重视维持经济增长、技术发展及国家安全，希望解除美国对其高科技封锁和贸易壁垒；美国重视维护其技术优势和贸易利益，要求中国开放市场并停止在关键资源和技术领域对美“卡脖子”。双方都希望减少自身经济损失，又不愿在战略上示弱。

2. 策略集合：双方在多个博弈维度上可选择策略。为简化分析，可聚焦三大维度：

• 关税政策：继续高关税（强硬策略）或降低关税（合作策略）。目前现实是双方仍维持高关税水平，美国综合关税约55%（包含之前各类加征），中国约10%reuters.com（显著低于美方）。

• 战略资源/技术出口管制：如中国对稀土等关键矿物的出口管制 vs 美国对高科技（芯片软件等）的出口管制。策略上可以选择实施/维持管制（强硬）或取消管制（让步）。本次中国选择取消对稀土磁体的出口限制，属合作让步；美国也表示将放松对华高科技出口管制中的一些领域english.kyodonews.netcsis.org。

• 人员交流及其它领域：如留学生签证、金融投资等。美国此次在签证上让步，允许更多中国学生赴美，属合作策略reuters.com；中国则一直希望维持人员正常交流。双方在此维度暂时采取了互惠合作的策略。

上述维度可视作多阶段博弈或多重议题博弈。为便于分析，可将其抽象为一个综合双人博弈模型：每一方都有“强硬”(H)和“合作”(C)两种总体策略取向，但在具体议题上可以组合选择（如在稀土上C、在关税上H）。这使博弈呈现出策略组合的多样性，而非简单的单次囚徒困境。但为了直观起见，我们可首先假设一个简化的对称博弈（类似囚徒困境的收益结构）来捕捉基本激励，再扩展讨论复杂均衡。

3. 收益支付（概念性）：双方策略的组合将决定各自收益：

• 双强硬 (H, H)：双方都坚持高关税+资源封锁等措施，彼此损害，进入全面贸易战/科技战。收益表现为两败俱伤：经济损失大，供应链断裂，科技交流停滞（负收益）。例如，2025年初双方互加惩罚性关税至三位数、彼此禁止关键出口时，就出现了贸易额骤降（中国对美出口同比-34.5%）english.kyodonews.net、企业巨额损失和市场动荡。

• 双合作 (C, C)：双方都选择降低关税、解除限制，实现贸易正常化和科技交流。此时总体收益最大（双赢）：经济恢复、供需正常。但由于存在信任赤字，此状态不稳定——正如囚徒困境中“双合作”虽帕累托最优，却因单方作弊诱因而难自发实现medium.com。

• 单方强硬、一方合作 (H, C)或(C, H)：这一不对称组合下，强硬方利用对方的合作获取单方面优势：例如美国若坚持高关税而中国单方面降低关税并开放市场，则美方可同时享受关税保护和中方市场开放，收益最高；反之亦然。被动合作的一方则处于劣势，政治上承压。因此，这类似**“鸡奸博弈”（Chicken Game）或领导者-追随者博弈**格局。

当前谈判结果实际上接近于一种不对称均衡：美国在关税上保持强硬立场（H），而中国并未同等报复（其对美关税仅10%，远低于美方）reuters.com。同时中国在稀土管制上让步（C），美国在签证上让步（C）。可以理解为美国在经贸领域强硬而中国相对克制，美国在人员交流领域部分合作回应。这种策略组合带来的结果是美国宣称获得巨大贸易保护（“我们得到55%关税”）而中国则确保关键资源供应恢复和部分交流正常reuters.comreuters.com。双方各自得到关切的利益点：美国保住了对华高关税（满足其产业和选民需求），中国保住了留学生和稀土出口市场。但很多根本性分歧并未解决，处于暂时搁置状态reuters.com。

4. 博弈类型：这可以看作一个重复博弈/动态博弈。中美经贸冲突从2018年至今反复拉锯，多轮谈判和报复，已经是一个长期博弈过程。各阶段的策略选择和均衡都受到历史策略和信誉影响。因此分析均衡需考虑静态（一次性博弈均衡）和动态（演化均衡、子博弈完美均衡等）两种层次。

三、多种均衡形态探索

1. 纳什均衡 (Nash Equilibrium)：在单次非合作博弈框架下，纳什均衡是双方策略互为最佳回应的稳定点。根据上述收益格局，可能存在以下纳什均衡：

• “双强硬”均衡：如果互相采取强硬策略是彼此的最佳回应，则 (H, H) 构成纳什均衡。这对应于双方都不信任对方合作，选择关税壁垒和制裁的情形。2018-2024年的贸易战大部分时间里，中美实际上陷入了这样的互相报复均衡，哪怕该状态令双方经济受损axios.com。这种均衡稳定但低效：没有一方能通过单边改变策略获利（单方让步将遭对方剥削），因此维持对峙，但集体收益远低于合作状态。

• “不对称”均衡：(H, C) 或 (C, H) 也可能是纳什均衡，取决于双方相对实力与承受力。如上所述，美国坚持高关税而中国克制报复的组合，可能是稳定的：美国的最优回应是继续征税获取贸易保护红利，中国的最优回应是在稀土等领域合作以换取部分利益且避免更大损失medium.com。反过来，如果中国采取强硬而美国克制，也是一种可能（但目前美国国内政治不允许完全克制）。从现实看，本次达成的安排类似 (H, C) ：美国保留高关税（强硬），中国未对等报复且提供稀土（合作）。有分析指出，这种格局在贸易战模型中被视为“最稳定的局面”之一medium.com。然而它对中国而言并非理想，属于一种被迫接受劣势的均衡。

• “双合作”并非均衡： (C, C) 虽让双方收益更高，但由于博弈存在囚徒困境特征，单方偏离合作能获得更大短期利益，因此在一次博弈中双合作不是纳什均衡medium.com——除非有外部约束或信誉机制，使背叛受惩罚。

2. “科尔奈-科曼达”均衡（体制均衡）：所谓“科尔奈-科曼达均衡”可理解为由体制或结构因素支撑的均衡，即即使不满足常规最佳回应原则，却由于外部强制力或内在机制而得以持续的状态。经济学家科尔奈（János Kornai）分析过社会主义经济中的**“短缺均衡”：尽管市场未出清（处于非瓦尔拉斯均衡），短缺状态却能自我再生、长期持续**，因为体制激励使偏离状态自我纠正pubs.aeaweb.org。借用这一思想，中美当前的局势也可视为一种**“非合作的稳定状态”：双方在贸易和技术上未达成真正合作，但建立了一套报复—让步的动态平衡机制**，使对抗强度维持在某个水平，不至于失控。具体体现在：

• 中国虽不满美国高关税和技术封锁，但内部存在缓冲机制（如刺激自主创新、寻找替代市场）来承受压力，同时利用稀土卡位、对美投资限制等措施对美形成反制平衡。这样一种“对抗—适应”的结构使局势形成常态化均衡：虽然远非合作最优，但在现行体制下可以持续且双方习以为常。

• 美国方面，即使对华强硬政策损害了一些本国企业利益，出于安全考量和国内政治共识，其决策机制依然倾向维持对华压力。而美企通过调整供应链、政府通过补贴产业等方式部分缓冲损失。这类似科尔奈笔下的**“短缺经济的自稳定”：扭曲（高关税、高壁垒）的存在引发内部调整，从而固化了扭曲本身，形成一种具有路径依赖**的均衡。

因此，“科尔奈式均衡”在此可指中美长期博弈形成的一种自我延续的对峙常态。这种均衡并非静态最优，但有内部反馈维系其稳定。它可能对应于一种政策均衡或制度均衡：双方政治体制与经济结构已经部分适应了冲突状态，并将其纳入新常态。科曼达（Komanda）一词可能隐喻“Command（命令式）”特点，即双方关系被战略和政治指令所主导，而非市场自发优化。

3. 演化均衡 (Evolutionary Equilibrium)：若将博弈视为重复进行，或者有大量“参与者”（如国内不同利益集团）的策略在演化，则可讨论演化稳定策略（ESS）。在演化视角下，策略会根据相对成功度调整，中美关系的长期走向可被视为一种策略种群的进化过程：

• 演化趋于强硬：若强硬策略在短期博弈中胜出（例如一方强硬往往能在谈判中获取更多，让步的反而被迫吃亏），那么随着时间推移，双方可能都会倾向强硬，最终演化出一个全面对抗的稳定状态。这类似于“鹰鸽博弈”中如果资源价值高且斗争成本可承受，鹰（强硬）策略会成为演化稳定策略。当前中美许多领域有朝着“鹰派占主导”的方向，例如双方国内的民族主义与强硬立场在近年不断强化，使得让步空间缩小。

• 混合均衡：也可能出现混合策略或周期。例如在重复博弈中，双方可能尝试间歇性合作（小幅让步）以试探，然后若对方被视为背信则迅速回到强硬，形成“报复—和解”交替出现的循环。这类似于“触发策略”均衡：默认合作，但一旦对方作弊就触发惩罚阶段。中美过去几年展示了一些这种特征：2019年达成阶段性协议短暂减缓冲突，随后因履约分歧又再度摩擦；2020年-2021年稍有缓和，2022年起围绕科技战又急剧恶化。每一次暂时均衡都因某种刺激被打破，然后演化进入新的冲突均衡。

• 演化稳定并不一定高效，但具有韧性。例如如果当前的部分合作-部分对抗状态在重复互动中证明比全面对抗或全面合作都“抗侵扰”，那么它就可能成为演化稳定策略组合。双方在稀土和签证上交换让步、但在关税和科技上维持对抗，或许就是一种策略组合的进化适应：既避免了极端冲突的不可承受之痛，又不让对手占尽便宜。这状态短期看或是博弈的折中均衡，可能会持续一段时间，直到新的变数出现。

4. 其他均衡概念：除了上述，值得一提的还有：

• 科尔奈-马林沃德均衡：科尔奈曾与马林沃德等研究非均衡经济，提出配给约束下的均衡等概念。在国际博弈中，可以类似地考虑约束均衡：双方由于外部环境（如全球市场、盟友压力）的约束，被迫停留在某均衡。如本次谈判有90天的临时停火协议english.kyodonews.netcsis.org，可视为一种短期约束均衡，由协议强制双方不升级冲突。

• 相关均衡 (Correlated Equilibrium)：如果存在一个可信协调机制，双方可以采取相关策略实现比纳什均衡更优的结果。例如通过国际机构调停，中美同步降低部分关税、同步解除一些出口禁令，则可避免单方面吃亏。但目前缺乏这样的信任机制（WTO等多边框架也遭削弱carnegieendowment.org），因此相关均衡难以达成。

综上可见，中美经贸谈判局势下可能存在多个均衡形态并存：静态地看，强硬对峙是经典纳什均衡；动态地看，阶段性停战是子博弈均衡的一种，但未必稳定；从更长期和结构视角看，可能形成一种长期对抗的常态均衡。

四、均衡稳定性分析

分析各均衡的稳定性（即在外部冲击或单方偏离下能否持续）对评估未来走势至关重要：

• 当前部分妥协均衡的稳定性：本次达成的交换（中国出口稀土、美国放宽签证，关税维持）可以视作一种短期纳什均衡或脆弱的相关均衡。其稳定性较弱，原因有：

• 互信水平低：双方并未解决根本分歧，仅是“各取所需”式的交换，缺乏长期约束力。正如90天贸易休战协议所示，这只是暂时停止升级english.kyodonews.netcsis.org。如果90天后新的谈判未有进展，任何一方都可能恢复强硬举措，均衡即告破裂。

• 激励不对称：美国在关税上占了便宜（55%对10%），可能倾向固守既得利益，缺乏进一步让步动力；中国则可能对这种不对称心存不满，伺机寻求重新谈判条件。一旦中国找到减轻美国关税压力的途径（比如开拓其他出口市场、或美国国内通胀迫使其降税），则中国可能强硬起来要求对等调整，否则就收紧其他合作（如稀土出口配额）。单方偏离的诱因是存在的，使得均衡并不牢固。

• 外部环境多变：地缘政治或国内政治事件都可能令一方突然改变策略（下文详述潜在冲击因素）。当前均衡缺乏“保险机制”抵御这些冲击。

有迹象表明各方也预见到其脆弱：例如美国智库评价称，此次让步只是“临时止痛”，并未消除贸易战已造成的高成本和不确定性csis.orgcsis.org。这种不确定性本身会削弱均衡的可持续性——企业和市场预期不稳，就难以建立长久合作常态。

• 全面冲突均衡的稳定性：如果中美重新陷入全面强硬对抗 (H, H)，这一均衡在某种条件下反而可能具有更高的稳定性，类似冷战时期美苏的对峙平衡：

• 相互威慑/无利可图：当双方都极大增加报复力度，使得任何单方面背离强硬（也就是单方面缓和）都会被对方视为软弱而加以利用时，那么维持对抗成为理性的选择。冷战中，美苏都认识到直接冲突风险巨大，形成了“相互确保摧毁”的核威慑均衡——没有一方有诱因先动carnegieendowment.org。在中美经贸版的冷战中，如果双方完全脱钩，各自建立独立产业链和同盟体系，那么相互依赖减少反而巩固了敌对均衡，因为少有经济动力去打破僵局。

• 国内政治锁定：强硬对抗一旦成为双方国内政治的基础，共识就会固化。例如冷战时期美国社会有跨党共识遏制苏联carnegieendowment.org。目前美国两党对华强硬在一定程度上趋于一致，将中国定位为主要战略竞争者；中国国内民族主义高涨，对美警惕心理强烈。如果这种政治氛围继续强化，领导人反而不敢轻易缓和，长期对峙就成为稳定政策。

• 然而，需要指出全面冲突均衡虽然稳定，但代价高昂而缺乏弹性。一旦出现如经济衰退、盟友变动等压力，其中一方可能难以承受（正如苏联经济最终不堪军备竞赛而崩溃，冷战均衡才终结）。因此静态稳定未必等于动态持久。当前中美离完全脱钩尚有距离，且全球化背景下，全面冲突会遭多方掣肘（盟国、企业利益等），因此真要达到冷战式的稳态并不容易。

• 双边合作均衡的稳定性：如果假设理想情况下双方实现了全面合作 (C, C)，这在博弈上不是自行稳定的，需要可信承诺等机制支撑。稳定合作往往依赖重复博弈阴影（即长期利益）、透明度和执行监督。中美过去曾有紧密经贸合作的阶段（例如中国加入WTO后两国贸易高速增长时期），但近年来这种合作均衡被打破，说明过去的制度化信任不足以约束背叛（比如美国指责中国未履行知识产权保护承诺，中国指责美国滥用贸易制裁）。要恢复稳定合作，除非有新的协议架构和信任重建，否则仍会因为单方追求短期利益而被破坏。短期看，双边全面合作似乎缺乏政治现实性，因此不是目前可行的均衡态。

• “科尔奈式”均衡的稳定性：如果中美进入一种长期非完全合作的常态（亦即部分对抗被体制内化的状态），这种局势可能具有相当持久性。历史上冷战就是典型例子：美苏长期在**“既不开战也不言和”**的紧张和平中相处数十年。其稳定原因包括：

• 结构性分隔：两大阵营经济、政治体系几乎隔绝，交往极少，因而缺少突发变数。若中美今后在经贸科技上大幅减少往来，各自主导不同供应链和技术标准，那么双方互动机会下降，冲突的摩擦面也相对可控，反而容易稳定在彼此默认的势力范围和规则之内。

• 制度自适应：如前述，双方内部调整出一套应对长期对抗的机制（替代产业、军备投入、宣传策略等），就像社会主义经济适应了短缺并持续运转一样pubs.aeaweb.org。一旦适应完成，这种对抗状态反而成了“新常态”，需要剧烈外力才能改变。

• 稳定但低级：值得注意，这类均衡通常效率低下（资源错配、全球福利损失），只是因为缺少打破均衡的动力而持续。例如冷战期间，美苏在军备和代理冲突上耗费巨资，却很少合作解决全球问题，直到苏联难以为继。中美若陷入持久对峙，也会牺牲很多潜在合作收益，但可能双方都愿意承受这个代价来避免在战略上被对方占优。

综合而言，目前的短期停战均衡较脆弱，全面对抗均衡和冷战式长期均衡在特定条件下可能更稳定，但对外部环境和内部承受要求高。均衡的稳定性取决于双方偏离策略的收益差异、一致预期的形成、以及有无自我强化机制。下面进一步探讨当前局势究竟更偏向短期策略均衡，还是将演化为长期对峙。

五、短期策略博弈均衡 vs. 长期对峙态势

1. 短期策略性均衡的特征：从此次谈判看，中美彼此做出的让步都带有策略试探性质，暗示目前状态更像一种短期策略均衡而非双方关系根本转折：

• 交换的局限性：让步集中在各自迫切领域（稀土和签证）reuters.com。这些让步可以迅速兑现又可随时中止（稀土出口许可中国可再收紧，签证政策美国随政令可调）。这显示双方并未进入信任合作的新轨道，而是在交换“筹码”赢得时间。

• 关税、补贴等核心问题未触及：贸易战缘起的结构性问题（市场准入、产业补贴、知识产权、关税全面降级）几乎原封不动。症结未解，只是搁置。CSIS评价称，此次关税从极端高位略有回落（美国从145%降至30%，中国125%降至10%）csis.org，但依然“远高于福利最大化所需水平”，且很多扭曲依旧存在csis.org。双方只是踩了一脚刹车，而非掉头转向。

• 临时协议属性：双方仅同意90天停火并“进一步磋商”english.kyodonews.netcsis.org。这和以前贸易战中数次短暂停战类似（如2018年底的90天停火、2020年签署的第一阶段协议后很快因疫情和政治因素失效）。短期协议往往是策略性调整，各自缓口气、观望对方意图，并非意味着矛盾解决。

基于这些特征，我们判断当前局势更倾向于短期策略均衡：双方在承受巨大经济代价后各退一步，形成暂时平衡reuters.com，但均衡基础脆弱。类似历史上韩战停战谈判、美苏古巴导弹危机后的默契，都属于策略性均衡：降低即时冲突风险，但并未解决根本对立。

2. 向长期对峙演化的可能：尽管当前是暂时妥协，但若双方结构性矛盾无法调和，博弈可能演化出类似冷战的长期对峙：

• 经贸脱钩升级：贸易战已扩展到金融、科技、人文等领域，呈“全谱系”竞争态势moneycontrol.commoneycontrol.com。Moneycontrol等媒体形容，中美贸易战正演变为**“冷战式对抗”**，不仅经济脱钩，还涉及网络安全、军事联盟等moneycontrol.commoneycontrol.com。如果这一趋势持续，双方将逐步构建各自阵营：美国拉拢盟友“经济北约”排斥中国；中国加强与俄等国合作，并以稀土等资源为筹码巩固自身阵营。这与冷战两极阵营形成颇为相似。

• 意识形态与制度之争凸显：冷战的长期对峙不仅是地缘，也是意识形态之争。当下中美分歧部分体现在政治制度和价值观。拜登政府 framing 了“民主 vs 专制”的全球竞争，美对华警惕已上升到制度层面carnegieendowment.orgcarnegieendowment.org。中国则强调美国遏制是因意识形态偏见。这种叙事一旦固化，双方会更倾向零和思维，减少妥协空间，进入价值观冷战态势。从博弈论看，这使合作策略收益相对降低，背叛收益上升，从而合作均衡更难维持，对抗均衡反而被社会接受为常态。

• 技术与军备竞赛：冷战长期稳定在于双方形成军备竞赛均衡，谁也不敢贸然进攻但也不断积累武力。在中美关系中，如果经贸冲突延伸到军备和太空、网络领域，对峙可能更为牢固。例如中美都强调加强太平洋军事部署，一些事件（台海危机等）可能将经济冲突引向准军事对抗轨道carnegieendowment.orgcarnegieendowment.org。Carnegie报告的“新冷战场景”指出，若发生台海或地区安全危机触发双方安全观转变，中美可能进入全面冷战状态：军事上前沿部署、核武戒备提升，经济上急剧脱钩，意识形态上互视为存亡对手carnegieendowment.orgcarnegieendowment.org。那将是一个全方位对峙的长期均衡，很类似美苏冷战后期的态势。

3. 当前均衡演化方向评估：综上，当前的均衡更像短期策略性停战，但演化走向取决于今后若干关键因素（详见下节）。存在两种主要路径：

• 路径A：反复博弈趋向冷战长期对峙。双方在短暂停战后因结构矛盾再起冲突，且每轮冲突都加深裂痕。经济上逐步脱钩，各自牺牲短期利益换取战略安全，国内进一步敌视对方。最终形成如同冷战般“双寡头对峙”的格局，可能持续多年乃至数十年。这种状态下，博弈均衡由短期的策略算计转变为长期的制度性均衡：双方都接受对抗为常态，不再指望对方让步，策略上以稳定自身阵营和遏制对手为目标。均衡稳定性体现在：即使小的外交互动或经济往来也无法撼动整体对立，除非出现剧变（如一方国力大衰退或政权变更）。

• 路径B：竞争中寻求合作共存的均衡。这是相对乐观的演化：在几轮高强度博弈后，双方认识到零和冲突代价沉重，转而尝试建立新规则。历史上美苏在70年代达成了战略武器限制、大三角外交等，使冷战进入**“松弛对峙”均衡**（即缓和时期）carnegieendowment.orgcarnegieendowment.org。类似地，中美也可能探索“竞争共存”框架，例如就贸易投资制定基本准则，划定可以竞争和必须合作的领域，实现某种**“有限合作-有限对抗”的均衡**。这接近于一种演化妥协均衡：不是回到蜜月期，但也避免全面冷战。其稳定性来自双方都看到了长期对抗的不利，愿意约束部分行为以维持全球稳定。这个路径需要高层战略互信逐步恢复，以及外部压力（如全球经济衰退、共同安全威胁）促使合作。

当前看来，路径A的风险在上升。贸易战期间的一些数据和行动表明新冷战苗头：贸易和投资下降但尚未彻底断绝，双方都有顾虑。carnegieendowment.org指出截至2022年中美贸易额仍创新高，说明相互依存仍在，这可能为路径B提供基础——经济纽带让完全对抗变得不利于双方，从而激励寻找折中均衡carnegieendowment.orgcarnegieendowment.org。然而，如果未来政治上完全被安全考虑压倒经济理性，路径A将更可能出现。

六、均衡破裂或维持的影响因素

无论当前均衡持续时间长短，外部冲击和内在变化都可能使局势跳转到新的均衡态。以下因素值得关注：

• 战略资源与技术依赖格局：中美相互依赖是“双刃剑”。例如稀土领域中国占全球产量70%english.kyodonews.net、加工90%axios.com，美国高科技和军工离不开稀土，因此中国有巨大杠杆。但美国正投入建立国内稀土供应链axios.com、寻求他国供应。如果几年内美国显著降低对中稀土依赖，中国失去这一筹码，均衡将倾向美国更强硬（中国难以通过断供威胁迫使美让步）。反之，在半导体等关键技术上，美国优势大，但中国也在追赶自给。一旦中国突破美国制约实现某些技术自主，或找到替代供应（如从第三国购买被禁技术），美国的制裁杠杆效力下降，可能促使其重新考虑策略。这些供需格局变化会打破原有利益平衡，引发新一轮策略调整。

• 经济承受能力：博弈均衡能否持续，一定程度取决于双方经济耐力。如果一方经济出现严重问题而将部分归因于对抗（例如美国因关税引发高通胀、就业受损，或中国因脱钩导致增长放缓过度），国内压力会推动政策转向合作以缓解经济困难csis.orgcsis.org。当前迹象：美国承受高关税引起的物价上升压力，中国也面临出口下滑和资本外流压力。谁更先难以为继，谁就可能先寻求突破均衡。同时，如果某方经济逆势壮大，可能反而更有底气长期对抗。例如有观点称贸易战令美国每年损失GDP约$3000亿csis.org，长远看这是不可持续的税收。类似冷战中苏联经济崩溃最终迫使其改变路线，中美对峙也存在经济极限约束。

• 国内政治与领导人更替：政治周期往往带来策略变化。例如2024美国大选、2027中国领导换届等都可能改变博弈基调。如果美国出现一位倾向缓和对华的总统（或相反更强硬的），政策将剧烈调整，均衡重新塑造。目前特朗普（或持其路线者）再掌权的可能性存在，而特朗普政府对华态度更为强硬、善用极限施压bloomberg.com。果真如此，当前脆弱均衡可能迅速崩塌，重回高压对抗。而若出现类似70年代尼克松式的人物寻求“连接”，也许会推动进入合作均衡窗口期。中国方面，国内政治对美态度近年来强硬是共识，但若经济下行压力迫使政策层调整优先级，也许会释放缓和信号。政策转向窗口往往在领导人第一任期初或重大会议后，需关注这些契机。

• 盟友和国际环境：中美博弈并非孤立，其他大国和国际组织的行为是重要外部变量。

• 美国盟友：如果美国成功拉起对华“统一战线”，对中国进行经济围堵，中国孤立无援下可能被迫进一步强硬反抗或加速自力更生，走向长期对峙。但若盟友出现分化（如欧盟不愿选边、继续和华贸易），美国对华极端施压难奏效，反而可能促使美国调整策略carnegieendowment.orgcarnegieendowment.org。目前欧盟、日本等既跟随美国限制对华部分技术，又希望保持贸易利益，这种摇摆也在影响均衡稳定。

• 第三方冲突：若发生其他突发危机（朝鲜半岛、南海冲突等）需要中美合作应对，可能临时搁置对抗形成共同利益，比如气候变化、全球金融危机等领域，也可能暂时偏移均衡。相反，如果第三方事件加剧对抗（如中俄关系紧密引发新集团对抗西方），均衡将更对立。台海无疑是最大变数，一旦失控几乎必然终结当前任何经济均衡，中美进入全面军事冷战甚至热战状态carnegieendowment.orgcarnegieendowment.org。

• 历史认知和心理因素：冷战经验表明，误判风险和敌意螺旋会固化冲突均衡。当前中美均试图从历史中找参照——美国部分政界认为对华“绥靖”曾失败，应强硬；中国则强调近代受欺辱史，不再退让carnegieendowment.orgcarnegieendowment.org。这些心理因素会影响策略选择，使让步更难。因此除非认知上出现转变（例如双方精英达成“再斗下去两败俱伤”的共识），否则心理上的安全困境会不断加强对抗均衡的稳定性。

总结：影响均衡演变的因素纷繁，但可以概括为：“硬”因素（经济、技术、军事实力和依赖格局变化）决定了对抗的物质可持续性，而**“软”因素**（政治意愿、认知、外交环境）决定了双方有没有契机跳出现有均衡。当前许多因素似乎在朝不利于长期合作的方向发展（技术脱钩、政治强硬化），这增加了短期均衡破裂的概率和长期对峙的可能性。然而，也存在制约对抗的因素（经济全球化的残余纽带、全球挑战需要合作），这些可能在未来某些时刻迫使双方重新评估战略。

七、未来可能的演化路径

结合上述分析，展望中美博弈的未来，有几条主要演化路径和对应均衡可供假设：

• 路径1：重复博弈陷入“新冷战” – 均衡形态：全面对抗的长期均衡\ 在此场景中，中美经过短暂休战后矛盾再度激化，每一次冲突都扩大范围，直至双方基本断绝高科技往来、贸易大幅减少，形成两个相对独立的经济技术体系，军事上进入持续高戒备状态。正如Carnegie报告描绘的“新（偶有热战）的冷战”场景：安全危机触发双方把彼此视为生存性对手，意识形态和安全竞争凌驾一切carnegieendowment.orgcarnegieendowment.org。在这种格局下：

• 经贸博弈退居次要，成为总体战略对抗的一部分。关税等问题可能永远谈不拢，反而双方都实行近乎敌对的经贸政策（禁运、投资审查、制裁）。

• 均衡稳定性高：双方国内都完成了对长期对抗的动员，社会“习惯”了没有对方的世界，各自的联盟体系提供支持。任何一方单独妥协都会被内部视为投降而不可接受。此时博弈均衡由政治-军事逻辑决定，经济利益让位于安全利益。

• 风险：这种均衡虽然稳定，却存在高风险的吸引域——任何局部事件都可能因为缺少缓冲而滑向直接冲突（如冷战时期多次危机那样）。它也将严重冲击全球经济和多边体系，让世界进入新分裂时期【28†L133-142】。

• 路径2：有限缓和与竞争共存 – 均衡形态：部分合作的动态均衡\ 另一条路径是双方在几番摩擦后痛感代价，选择建立某种“竞合框架”。这类似于美苏在1970年代缓和时期达成的默契：虽然仍竞争，但在军控、贸易上有所协议，避免了更危险的对抗carnegieendowment.org。应用到中美，则可能出现：

• 签订新贸易协定：范围超越2020年第一阶段协议，可能涉及逐步降低关税、规则竞争中建立仲裁机制等，使贸易战有“停战线”。

• 科技隔阂设置护栏：如定义哪些技术可以合作、哪些严格竞争，并避免极端措施（比如对民用科技保持一定交流）。

• 地缘热点管理：双方军方高层保持沟通，防止误判，类似冷战后的危险热线机制。这降低擦枪走火概率，也为经贸关系提供稳定外围环境。

• 均衡特征：这种均衡并非“友好合作”，而更像**“竞争性共存”。双方依然视对方为主要竞争者，但承认对方利益**，不试图彻底削弱对方，而是寻求长期共存之道。其稳定性中等，取决于领导人意志和制度化程度。如有强有力且持续的对话渠道、协议执行监督，则可较长时间维持；但如果遇到大的国际事件或国内政治变化，关系可能再次滑向对抗。

• 路径3：卷入热战或严重冲突 – 均衡破裂，激烈对抗后再重组\ 不能排除最坏情况：均衡被打破引发失控冲突，例如因台湾问题或南海冲突中美发生直接军事对抗。那将不是博弈均衡内的演化，而是均衡本身的崩溃，后果难以估量。大战之后新的均衡可能在战胜-战败格局上重建，但这已超出本文经贸博弈讨论范围。不过需要指出，持续敌对的均衡往往孕育热战危险carnegieendowment.orgcarnegieendowment.org；避免这一结局本身是各方应努力的目标。

当前迹象显示，路径1的新冷战倾向在一些领域浮现（高度脱钩、阵营对立）moneycontrol.commoneycontrol.com；路径2的有限缓和尚未看到明确契机，但并非没有基础（双方经贸仍有巨大共同利益carnegieendowment.org，金融市场、人才流动也难以一夕切断）。未来数年内，一些重要节点（如美国换届、中国经济策略调整等）将是走向路径2或滑向路径1的关键转折。

八、结论

综上分析，2025年中美谈判达成的有限妥协可被解读为中美经贸博弈中的一个短期策略均衡。双方通过各让一步，实现了一次互利但脆弱的平衡。然而，从博弈论视角看，这一均衡并非纳什稳态：双方均有诱因或压力偏离当前策略，且均衡缺乏强有力的自我稳定机制。事实上，正如有分析指出的，此次协议“几乎没有长期解决纷争的迹象”reuters.com，更像是为缓解彼此立即痛苦而达成的临时停战csis.org。

未来的走向很大程度上取决于双方如何应对结构性矛盾：是任由矛盾积累，将博弈推向类似冷战的长期对峙均衡，抑或痛定思痛，在竞争中寻求新的合作共处均衡。冷战的历史教训表明，即使长期对峙均衡一度稳定，最终也会因为不可持续的内耗而瓦解。因此，对中美双方而言，短期策略博弈或许有利于各自战术利益，但从长期理性出发，探索比冷战式对峙更稳定且成本更低的均衡（例如有限竞争+合作领域并存的模式）才符合两国和全球利益。

当然，博弈均衡并非静止，而是会随环境演化。技术进步、经济变化、国际局势、新冠疫情等冲击都可能改变 payoff 结构，从而改变博弈的均衡点。在不确定性加剧的时代，中美关系的博弈更需要双方拿出智慧，避免陷入“囚徒困境”式的次优均衡。正如经典博弈论所示，当重复博弈次数足够长、参与者足够理性时，合作并非不可实现。希望中美双方在经历几轮高强度博弈后，能够识别出新的合作机会窗口，打破目前这一“不稳定均衡”，避免新的冷战长期对峙成为不可逆的自我实现预言carnegieendowment.orgcarnegieendowment.org。

参考文献：

• Reuters报道，2025年6月11日，《特朗普称中国将供应稀土，美国将允许中国学生入学》reuters.comreuters.com。

• Axios报道，2025年6月4日，《中美贸易争端中的稀土问题》axios.comaxios.com。

• Medium平台分析文章，Laurel W. (2023)《关税博弈的博弈论解析》medium.commedium.com。

• Kyodo News共同社，2025年6月10日，《中美高层贸易会谈聚焦稀土》（英文版）english.kyodonews.netenglish.kyodonews.net。

• CSIS评论，Philip Luck, 2025年5月13日, 《理解中美贸易战的暂时缓和》csis.orgcsis.org。

• Moneycontrol新闻，2025年4月22日, 《美中贸易战加深，走向冷战式对峙》moneycontrol.commoneycontrol.com。

• Carnegie Endowment报告, Evan Medeiros等, 2024年10月, 《2030年代的中美关系：共存情景》carnegieendowment.orgcarnegieendowment.org。

• Carnegie Endowment报告, Stephen Walt等, 2024年10月, 对中美关系的理论视角分析carnegieendowment.orgcarnegieendowment.org。

• Kornai理论参考：Michael Ellman, 1990, 《The Disequilibrium School and the Shortage Economy》摘要pubs.aeaweb.org（说明体制性短缺状态的自我维持）。

@ b1ddb4d7:471244e7

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

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

— Bitcoin FilmFest (@bitcoinfilmfest) May 28, 2025

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

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

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

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

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

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

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

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

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

@ dfa02707:41ca50e3

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

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

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

GitHub Repo

@ c1a49d62:3ef55468

IoT chips serve as the foundational semiconductor components that enable connectivity, data processing, and communication in devices ranging from smart thermostats to industrial sensors. These microcontrollers, system-on-chips (SoCs), and application-specific integrated circuits (ASICs) offer low power consumption, compact form factors, and robust security features, making them essential for Internet of Things ecosystems. As industries pursue digital transformation, the need for high-performance IoT chips that can handle real-time analytics, edge computing, and seamless interoperability has surged. IoT Chips Market Advantages such as integrated wireless protocols (Wi-Fi, Bluetooth, LoRaWAN), enhanced energy efficiency, and customizable silicon solutions address critical market challenges like device longevity and data integrity. Manufacturers leverage advanced process nodes and AI accelerators to deliver chips with superior throughput while minimizing thermal footprints. Continuous innovations in semiconductor design, coupled with growing market opportunities in smart cities, automotive telematics, and healthcare monitoring, underscore the strategic importance of these components. As enterprises seek to optimize operations and reduce costs through predictive maintenance and remote monitoring, demand for versatile IoT chipsets continues to rise. The IoT chips market is estimated to be valued at USD 620.36 Bn in 2025 and is expected to reach USD 1415.005 Bn by 2032, growing at a compound annual growth rate (CAGR) of 15.00% from 2025 to 2032.

@ 472f440f:5669301e

Marty's Bent

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

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

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

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

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

Make some noise!

Bitcoin Adoption by Power Companies: The Next Frontier

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

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

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

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

Headlines of the Day

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

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

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

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

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Final thought...

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@ a296b972:e5a7a2e8

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

Ein Erguss dieses verhaltensoriginellen Über-alles-Bescheidwissers:

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

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

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

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

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

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

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

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

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

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

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

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

Eine allgemeine Heizpflicht soll es europaweit zunächst nicht geben.

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

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

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

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

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

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

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

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

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

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

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

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

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

* *

(Bild von pixabay)

@ 9ca447d2:fbf5a36d

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

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

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

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

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

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

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

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

The loans are not speculative or unsecured.

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

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

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

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

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

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

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

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

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

Cantor is also a big player in the stablecoin space.

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

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

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

This also shows how traditional financial players are embracing DeFi.

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

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

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

@ dfa02707:41ca50e3

Contribute to keep No Bullshit Bitcoin news going.

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

What's new

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

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

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

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

  • For more technical details, see the protocol spec.

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

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

Fixes

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

Blog Post / Archive
GitHub Repo
CCC Guide
Key Teleport site

@ 5627e59c:d484729e

Look and see\ Look and see

You look like how you look at me

Look and see\ Look and see

The colorless through the color TV

Look and see\ Look and be

The unborn identity

@ dfa02707:41ca50e3

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

@ 04c915da:3dfbecc9

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

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

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

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

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

---

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

@ 0689c075:2936ee11

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@ 502ab02a:a2860397

เรื่องของซีเรียล ที่เรารู้กัน ความจริงมันก็ไม่ได้สวยหรูสามัคคีอะไรเท่าไรครับ เบื้องหลังผลประโยชน์ระดับโลก ส่วนมากมีความขัดแย้งรุนแรงเสมอๆ

Recap นิดนะครับ ย้อนกลับไปช่วงปี 1880s ที่เมืองเล็ก ๆ อย่าง Battle Creek มลรัฐมิชิแกน สหรัฐฯ ดร. John Harvey Kellogg เป็นผู้กำกับดูแล Battle Creek Sanitarium ซึ่งเปิดสอนเรื่องสุขภาพครบทุกด้าน ทั้งโภชนาการออกกำลังกาย ไปจนถึงการควบคุมราคะ โดยเฉพาะเรื่องอาหารเช้า เขาเชื่อว่ามื้อแรกของวันมันมีอำนาจควบคุมอารมณ์และจิตวิญญาณได้ ถ้าเริ่มต้นด้วยไข่ แฮม หรือเนื้อ มันจะพลิกเรือจิตใจให้ไหลเข้าสู่ตัณหา …ซึ่งไม่ใช่จุดประสงค์ชีวิตนักพรตชาว Adventist เลย

ปี 1894 ในห้องครัวของโรงพยาบาลแห่งนี้ ดร. John กับน้องชาย Will ทดลองทำข้าวธัญพืชอบสมุนไพร เมล็ดธัญพืชบดที่หล่นบนเตาแล้วกลายเป็นแผ่นกรอบ มีชื่อเรียกชั่วคราวว่า “Granose biscuits” หรือ “wheat flakes” ซึ่งเป็นจุดเริ่มต้นของอาหารเช้าที่เน้นสุขภาพ ไม่ใช่ความอร่อย

วันที่ 7 มีนาคม 1897 ดร. John ยืนกรานจัดแจก Corn Flakes ตามหลักการ “ไม่หวาน ไม่อิ่มมาก” ในแบบฉบับ ซีเรียลไม่ใส่น้ำตาล (sugarless cereal) ให้กับคนไข้ของเขาเป็นครั้งแรก ความหวังคือให้พลังย่อยและช่วยเรื่องลำไส้ เพื่อสุขภาพมากกว่าความหรรษาปลายลิ้น

แต่แน่นอนว่า สูตรชีวิตด้านอาหารแบบพระเขาไม่ง้อลิ้นชาวบ้าน อย่าพูดถึงยอดขายเลย! น้องชาย Will Keith Kellogg ซึ่งเป็นนักธุรกิจสายลุย มองเห็นว่ารสจืดแบบนี้ไม่เกิด เขาจึงแฝงแนวคิดว่า “ทำไงให้ซีเรียลอร่อยจนคนยอมจ่าย” และสุดท้ายก็เติมน้ำตาลเข้าไป ปรับหน้าแพ็กเกจ และใส่โฆษณาชวนเชื่อว่า “อาหารเช้าสำคัญที่สุดของวัน” จนคนเริ่มเชื่อ

จากความเข้าใจเรื่องบริษัทสตาร์ทอัพของยุคนั้น ระหว่าง 1897–1906 ความแตกแยกของแนวคิดพี่-น้องก็ชัดเจนขึ้นเรื่อย ๆ ดร. John ที่เชื่อเรื่อง purity ของอาหาร ไม่เห็นด้วยกับน้ำตาล กลับขัดแย้งกับ Will ที่มองว่า “นี่ล่ะโอกาสทองเชิงพาณิชย์” จนในปี 1906 Will ตัดสินใจแยกออกมาเปิดบริษัทใหม่ในชื่อ Battle Creek Toasted Corn Flake Company วันที่ 19 กุมภาพันธ์ 1906 โดยผลักดันซีเรียลหวาน มีน้ำตาล จนขายดีทะลุเป้า

ตอนนี้พี่น้องก็กลายมาเป็นศัตรูทางธุรกิจจนได้ Will ยึดชื่อ Kellogg ทำโฆษณาเต็มแรง ลงโฆษณาเสาไฟ times square ใหญ่สุดในตอนนั้น ดร. John ฟ้องศาลขอสิทธิ์ในชื่อ Kellogg คืน เพราะเขาคิดว่าควรเป็นของผู้เริ่มต้นก่อน สุดท้าย Michigan Supreme Court ตัดสินให้ Will ชนะ ชัดเจนว่า “ใครทำการตลาด เขาก็เป็นเจ้าของชื่อ”

หลังจากนั้น ซีเรียลใส่น้ำตาลแบบกล่อง (boxed cereal) ก็เริ่มกระจายไปทั่วโลกในช่วงปี 1909–1920 โดย mass‑production ออกวันละหลักหมื่นกล่อง และโฆษณาไประดับครอบครัว วัยเด็ก และแม่บ้าน วาทกรรมคือ "ให้ลูกแข็งแรง" "อาหารเช้าแห่งอารยธรรม" ที่สำคัญคือ “ทำง่าย กินง่าย”

พอถึงปี 1907 โรงงานเกิดไฟไหม้ แต่กลับสร้างใหม่ในเวลา 6 เดือน แสดงให้เห็นถึงพลังของธุรกิจซีเรียลกล่องอย่างแท้จริง หลังจากนั้นในปี 1922 บริษัทก็เปลี่ยนชื่อเป็น Kellogg Company และโตเต็มที่ในช่วง 1920s–1930s นับเป็นเครื่องจักรของความเชื่อที่ว่า น้ำตาลในอาหารเช้าย่อมดีกว่าไขมันและเนื้อ แต่ในอีกมุม มันก็คือน้ำตาลอัดเม็ดเชิงการตลาดชุดแรกของโลก

ในภาพรวม หากมองจากสายตาประชาอเมริกันยุคต้น เคลล็อกพี่เป็นผู้ปฏิวัติโภชนาการสุทธิ เขาต้องการให้ซีเรียลเป็นอาหาร “ปราศจากสาปราคะ” ที่มุ่งเน้นสุขภาพ แต่ Will พาเรื่องนี้เข้าสู่วงการพาณิชย์ ขายง่าย รสหวาน และถูกเชื่อมกับแนวคิดว่าเด็กน้อยต้องกินอะไรเดี๋ยวนั้นเพื่อแข็งแรง กระทั่งพลังตลาดทำให้คนย้ายจากมื้อเช้าแบบหนัก ไปเป็นชามซีเรียลจิ้มกับนมในสไตล์ยุคใหม่ โดยไม่รู้เลยว่าหัวใจแท้จริงมันเริ่มตั้งแต่มุ่งปราบราคะและโมเดิร์นลุยตลาด

เมื่อดู timeline เต็มรูปแบบ เราจะเห็นว่า 1894: ดร. John ทดลอง Flaked wheat/raw Granose 1897: แจก Corn Flakes สูตรจืด sugarless จนเป็นกินกับนมเพื่อช่วยการย่อย (milk accompaniment)
1906: Will แยกบริษัท สร้างตลาดซีเรียลหวาน 1909: เปลี่ยนชื่อเป็น Kellogg Company 1922: บริษัทขยายสู่ตลาดโลกโดยสมบูรณ์

ทุกย่างก้าวมีหัวใจสำคัญคือการเปลี่ยนพฤติกรรมผู้คนจาก “กินอาหารจริง” เป็น “กินอาหารกล่อง” จากไข่ เบคอน สตูว์ มาเป็นชามซีเรียลจิ้มกับนมที่ใส่น้ำตาลจัด ทั้งที่แท้จริงแล้วเป้าหมายแรกคือ “สงบกิเลส” แต่กลับจบที่ “กระตุ้นยอดขาย”

คุณลองจินตนาการถึงคนอเมริกันก่อนซีเรียล ตื่นเช้ามาเจอจานไข่ดาว เบคอน หรือแม้แต่ข้าวใส่จานพร้อมผัก ยิ่งทำงานหนักเสริมด้วยแผนยุทธศาสตร์ชีวิต พอซีเรียลมา “แค่เท กลืน กินง่าย” มันก็เข้าใจว่ามันคือความสะดวกและอนาคตของโภชนาการ ที่ถูกโปรโมตว่าดีต่อสุขภาพ ทั้ง ๆ ที่มันควรถูกตั้งคำถามในเรื่องน้ำตาลอยู่ไม่น้อย

วันนี้เรารู้แล้วว่า ซีเรียลกล่องใส่น้ำตาลคือผลิตภัณฑ์แห่งยุคตลาด เมื่อย้อนรอยดู มันไม่ใช่แค่เค้าว่าอร่อยหรือดี แต่คือการปั้นภาพว่า “นี่คือสิ่งที่คนยุคใหม่ควรกิน” โดยมีบริษัทและรัฐหนุนหลังให้มันกลายเป็นสิ่งที่เข้าใจว่า ‘ปกติ’ ทั้งที่ความจริงมัน ‘ผิดธรรมชาติ’ ตั้งแต่ต้นน้ำ #pirateketo #กูต้องรู้มั๊ย #ม้วนหางสิลูก #siamstr