@ 91117f2b:111207d6

Father's Day is a special holiday celebrated annually to honor fathers, father figures, and the significant role they play in shaping our lives. This year, Father's Day falls on Sunday, June 15, 2025, in many countries around the world.

A Brief History of Father's Day

The concept of Father's Day was first introduced by Sonora Smart Dodd in 1909, inspired by the success of Mother's Day. Dodd's father, William Jackson Smart, had raised her and her five siblings alone after their mother's death, and she wanted to honor his sacrifices and dedication. The first Father's Day celebration was held on June 19, 1910, in Spokane, Washington, and it wasn't until 1972 that President Richard Nixon signed a law declaring the third Sunday in June as the permanent date for Father's Day.

Celebrating Father's Day Around the World

While many countries celebrate Father's Day on the third Sunday in June, others observe it on different dates. Some notable exceptions include : - Spain, Italy, and Portugal: March 19, St. Joseph's Day - Germany: Ascension Day - Scandinavian countries: Second Sunday in November - Taiwan: August 8 - Australia and New Zealand: First Sunday in September

Ways to Celebrate Father's Day

If you're looking for ideas to make Father's Day special, consider these activities ¹: - Outdoor activities: Plan a camping trip, barbecue, or beach day - Cooking: Try out delicious recipes like grilled flank steak, country-style ribs, or bourbon-glazed salmon - Quality time: Spend the day doing something your dad enjoys, like watching a game or playing a sport together

Honoring Fathers and Father Figures

Father's Day is an opportunity to express gratitude and appreciation for the men who have made a positive impact in our lives. Whether it's a biological father, stepfather, grandfather, or father figure, this holiday is a chance to show love, respect, and admiration for their guidance, support, and sacrifices.

We say thank U to all the fathers out there in the world who have sacrificed and will continue to sacrifice for the benefit and success of their children. 💝♥️♥️

@ f85b9c2c:d190bcff

To all the dads, pops, uncles, big brothers, grandpas that are doing the father role.

I am sitting here during father’s day afternoon thinking about all the children across the world that for various reasons are not able to tell their dads happy father’s day. Before anyone thinks I mean anything negative by the above statement, I DON’T. I just want to shed light on all the male figures that step in to that role to help raise children.

Sending a big thank you to all the men who step up and help as a father figure despite their status.

@ 5d4b6c8d:8a1c1ee3

https://youtu.be/-ne8adkjY6A

Orlando gets Bane

Memphis gets KCP, Cole Anthony, and a bunch of picks

This move makes a lot of sense. Orlando needed someone like Bane and Memphis needed to break up their core.

https://stacker.news/items/1007156

@ bf47c19e:c3d2573b

Оригинални научни рад

Аутор: Срђан М. РАДУЛОВИЋ - Универзитет у Приштини са привременим седиштем у Косовској Митровици (Србија), Правни факултет

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Сажетак

Тенденција трансформације појединачних друштвених заједница у јединствено, унификовано друштво, које унутар себе не познаје никакве границе (или барем не инсистира на њима), можемо, уз неопходну дозу симплификације, сматрати појмовним одређењем глобализације, која, будући да је доживљавамо као тенденцију, по природи ствари има и своје темпорално одређење. Мада одређење временских координата ове појаве умногоме зависи од угла из којег је посматрамо, начелно је могуће постићи консензус око тога да овај процес није континуиран, већ да се одвијао у неколико засебних фаза.

Нама је блиско становиште да је ова тенденција имала три фазе. Но, верујемо да ће се и присталице нешто другачије периодизације усагласити са тим да је у периоду од 31. октобра 2008. године, када је објављен тзв. бели папир (white paper) под називом Bitcoin: A Peer-to-Peer Electronic Cash System, до момента проглашења пандемије SARSCoV-2 вируса од стране Светске здравствене организације започела сасвим нова, по потенцијалним дометима најефикаснија и најсвеобухватнија фаза глобализације.

У овом раду, због усмерености и обима рада, представљамо део резултата раније спроведеног теоријско-емпиријског истраживања о социолошко-правним моментима који су погодовали почетку нове фазе глобализације. Други део прикупљених резултата, усмерен на потенцијални обим и ефекте промене коју доноси нова фаза, биће представљен у неком од наредних радова. Сазнања су у оба дела истраживања прикупљена употребом аналитичко-синтетичких метода, уз нарочит ослонац на предности апстракције. У раду су, такође, коришћене и различите технике нормативног метода, као и специфичне технике интерпретације правних норми.

Кључне речи: глобализација; биткоин; криптовалуте; криптоимовина; новчане облигације; SARS-CoV-2 пандемија.

Уместо увода

Уколико идеју о глобализацији генерализујемо и интерпретирамо је као трансформацију самосталних друштвених заједница са релативно јасно одређеним државним, културним, економским и/или другим границама, у унификовано друштво које не познаје ниједну од поменутих граница, или барем није њима спутано (Радуловић, 2017), можемо доћи до неколико закључака.

Први у низу закључака био би да је овај процес иманентан људском друштву. Иако се израз не појављује у научној литератури до средине XX века (Попић, 2018; Џамић, 2014; Chumakov, 2010), мишљења смо да тенденција интензивирања људских односа кроз смањење просторних, временских, културних, а нарочито економских баријера одувек постоји. Доиста делује као да друштво тежи свеобухватности и да је глобализацију немогуће избећи (2) (Domišljanović, 2000), а да је несклад између научног конституисања појма и тренутка када се глобализација појавила чак и природан. (3) (Џамић, 2014)

Облик и, нарочито, интензитет глобализације разликују се кроз епохе. Начини постизања ефеката глобализације, такође, сукцесивно су се смењивали (Антић, 2013). Можемо уочити и периоде стагнације, чак и радикалних, темпорално или географски одређених фаза у којима се промовише изолација у односу на „нетрадиционалне” вредности. То, међутим, не значи да тенденција пораста степена међузависности процеса, појава и односа не постоји (Џамић, 2014). Напротив. Управо виши степен радикализма у „традиционалистичким” (4) одговорима подстиче активности усмерене ка стварању више форме друштвене заједнице (Марковић и Булатовић, 2014). Уосталом, push and pull ефекти (Giddens, 1990) глобализације нису нимало необични. Они природно произлазе из осећаја апатије, изгубљености, угрожености коју кроскултурни начин организовања доноси (5) (Chumakov, 2010).

Даље, глобализација спаја прошлост и садашњост, представља будућност, мада сама не подлеже никаквим временским ограничењима (Попић, 2018; Chumakov, 2010). Но, глобализација није униформна појава (Радуловић, 2017). Она, уколико је доживљавамо као процес, има своје фазе. Њих је могуће разликовати и определити периодизацију.

Критеријуми периодизације врло су хетерогени и није једноставно определити се за један, тим пре јер историјска димензија глобализације није сасвим јасна (Антић, 2003). Уз напомену да би закључци принципијелно били исти и да смо одабрали другачију хронологију, бирамо модификовану трофазну периодизацију глобализације (Печујлић, 2002; Радуловић, 2017). Прва фаза започиње успоном најстаријих цивилизација и траје до XVI века. Други талас глобализације траје до пада Берлинског зида (6). Најзад, трећи талас турбоглобализације започиње падом Берлинског зида и траје до данас без прекида [sic!].

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1. Штавише, степен достигнуте повезаности и свеобухватности могуће је и изразити релативно прецизно кроз глобалност као меру дешавања на глобалу (Cifrić, 2009).
2. Природно је да свест о одвијању процеса, следствено и научно интересовање, у делу људске историје нису постојали, то јест да су се јавили у некој од фаза већ започетог процеса. Овакав закључак произлази из петофазне периодизације промишљања о проблемима и трендовима на нивоу човечанства као органске целине, а која почиње тек од средине XVIII века (Chumakov, 2010).
3. Ваља бити нарочито обазрив уколико између појмова глобализације и модернизације, односно традиционализма и конзервативизма, постављамо знак једнакости. Социолошка теорија нуди врло деликатно упутство за употребу ових термина, нарочито онда када их употребљавамо као вредносне судове (Giddens, 1990; Шуваковић, 2013).
4. Глобалистичке пројекције своје постојање, па и смисао уопште, потврђују тек кроз однос са изолационистичким тенденцијама. Однос глобалистичких тежњи друштва и регресивни одговори на те тежње само истичу контроверзну дуалну природу глобализације као процеса (Џамић, 2014). Утолико и синтагма „уједињено-разједињени свет” под којом је, како се сматра, Радомир Лукић проучавао глобализацију (Печујлић, 2002; Попић и Шуваковић, 2014; Џамић, 2014) има више смисла.
5. Творац трофазне периодизације од које полазимо, период од XVI века до пада Берлинског зида не види као континуиран сегмент, већ унутар њега разликује две засебне фазе (Печујлић, 2002). Ми на њима нећемо инсистирати, будући да (не)прихватање ове поделе није релевантно за касније извођење закључака.

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Корени четвртог таласа глобализације

Настанак и развој протоглобалних цивилизација, њихово ширење, те јављање тежње за унификацијом друштва нераскидиво су повезани са техничким открићима (Антић, 2003). Не само први већ сви таласи глобализације (а сваки наредни интензивнији је од претходног) узроковани су примарно модернизацијом у технолошком смислу. Увек када се појави технологија која има капацитет да обезбеди ефикасније умањење просторне и/или временске дистанце, за последицу имамо комплексне промене у друштву које, уз дозу генерализације, проучавамо као (нове) таласе глобализације. Изузетак није ни четврти талас на чије постојање желимо да укажемо.

Концепт новца и његова еволуција, такође, нераскидиво су везани за технолошки напредак, иако је он, будући да није спутан правним нити културним ограничењима, неупоредиво бржи (Calcaterra et al., 2020). Природно, кроз разраду идеја о дигитализацији традиционалних форми новца које су се појавиле већ у раним осамдесетим (Cavalhiero & Cavalhiero, 2022), у монетарним порецима започет је постепени прелазак са банкнотног на систем електронског плаћања (Димитријевић, 2018). Прелазак је био потпуно логична, чак и очекивана фаза у процесу еволуције новца усмерене ка његовој апстракцији. Безбројне предности апстрахованог инструмента – ефикасност, ефективност и погодност коришћења само су неке од њих (Ruslina, 2019) – учиниле су да се за мање од три деценије од појаве електронског (7), затим и виртуелног новца на глобално интегрисаном финансијском тржишту (Димитријевић, 2018), економски токови глобализују најпре у смислу да промет велике количине новца не трпи значајнија ограничења и да се одвија за релативно кратко време.

У таквом окружењу отвара се широк простор на међународном нивоу који теоретски може да попуни само наднационални, потенцијално недржавни новчани систем (Nahorniak et al., 2016). У том смислу, криптовалуте, базиране на блокчејн технологији, представљају занимљив новитет. Оне су створиле суштинске изазове за правне поретке и довеле у питање генералну улогу новца и различитих валута (Ronaghi, 2023). Такође, подстичу иновације и стварају нове прилике у свету који је створен у првим годинама интернета (Calcaterra et al., 2020; Cavalheiro & Cavalheiro, 2022).

Уз то, оне представљају облик дигиталног новца, но, нису исто што и електронски новац (Nahorniak et al., 2016). Оне су, заправо, нови правац у развоју дигиталног новца због тога што постојећу новчану масу комплементарно и квалитативно уздижу. Стога, криптовалуте нам се чине као најозбиљнији кандидат за задовољење потреба које на међународном тржишту новца постоје, а у мору пројеката издваја се феномен Биткоина (8).

Биткоин примарно не представља валуту, мада може преузети облик и функције новца (9), већ систем плаћања. Суштински, платформа поставља и спроводи правила усмерена на заштиту права својине (Abramowitz, 2016), која се, помало поједностављено, своди на својину на приватним кључевима (Raskin, 2015). Од момента када је постао оперативан, функционише као аутономан систем у потпуности заснован на транспарентним математичким и информатичким принципима. Прецизније, софтвер функционише искључиво према упутствима садржаним у самом коду, али она не долазе од централног ауторитета, сем иницијално, чак не ни од самог творца, већ од демократски организоване заједнице равноправних учесника у мрежи потпуно отвореног типа [нагласио аутор] (10). Као такав, практично посматрано, у потпуности је имун на постојећу међународну, а нарочито домаћу правну регулативу (која ће управо из тог разлога остати ван фокуса овог рада), јер његова поставка и није нормативна већ консенсуална.

Иако се данас стабилни коини погрешно или барем преурањено означавају као „Хајеков новац” (Syropyatov, 2021), биткоин, што се јасно види из његовог концепцијског манифеста, представља први успешан покушај оживотворења деценијама присутне идеје Ф. А. Хајека (1976) о демонополизацији државног утицаја на креирање монетарне политике кроз постепено увођење конкуренције „државном” новцу у виду новца креираног од стране приватних ентитета (Ruslina, 2019; Syropyatov, 2021), и то у форми „спољашњег новца” према прихваћеној дихотомији (Garrat & Wallace, 2018).

Биткоин мрежа је у потпуности транспарентна. Сет криптографских кључева, односно комбинација јавне адресе и приватног кључа (Raskin, 2015), омогућава да систем буде потпуно транспарентан, пре свега, у погледу начина рада, затим расподеле средстава и њиховог кретања (11), али истовремено и да буде имун на интервенције споља због апсолутне, криптографски гарантоване, анонимности учесника у мрежи. То, свакако, компромитује економски суверенитет државе, који је додатно компромитован и њеном немогућношћу да утиче на пуштање у оптицај и масе криптовалутних јединица (Raskin, 2015), затим њеном фактичком немогућношћу да их забрани или опорезује, као и немогућношћу да директно утиче на њихову курсну вредност или куповну моћ. Но, чињеница да овај систем не зависи од компарације и размене националних финансијских инструмената на интернационалном тржишту чини га суштински децентрализованим, а потпуна отвореност мреже интернационализованим, затим и глобализованим (Blaazer, 2020).

Дакле, када смо говорили о вези узрочно-последичног карактера између технолошких иновација и новог таласа глобализације, имали смо у виду примарно Биткоин. Суштински смо, заправо, имали у виду синтезу технолошких иновација први пут обједињених у оквиру функционалне целине од стране недржавног ауторитета која нема само локални већ која има и међународни домашај, а која је у време настанка идеје о новцу издатом од стране приватних ентитета била недоступна, што је саму идеју, по признању творца идеје, чинило утопистичком (Syropyatov, 2021).

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1. Електронски новац је облик дигиталног новца који, по правилу, представља електронску манифестацију већ постојећег новца у оптицају (Nahorniak et al., 2016; Ström, 2020). Појавио се најпре у Јапану средином осамдесетих година као припејд картица за плаћање неких врста „масовних услуга”, а замах је добио на западу где је коришћен као замена за кеш трансакције мале вредности (Димитријевић, 2018).
2. Будући да је њихова правилна дистинкција од кључне важности, за потребе овог рада систем плаћања означаваћемо као Биткоин, дакле великим почетним словом „Б”, а виртуелне јединице унутар система малим почетним словом „б” (биткоин).
3. Биткоин је најпре препознат као новац од стране специјализованих органа САД који се баве финансијским криминалитетом (Mirjanich, 2014), а тај став потврђен је у чувеном случају Silk Road (Raskin, 2015; Zebec, 2018) и широј јавности мање познатом, али правнополитички врло значајном случају SEC vs Shavers (Raskin, 2015).
4. Кроз овакву поставку, творац и иницијални издавач решио је два кључна проблема – нежељене додатне продукције новца и његово кривотворења (Garrat & Wallace, 2018).
5. Биткоин користи блокчејн технологију и hash функцију како би створио трајни запис свих трансакција које су се у оквиру мреже реализовале (Cavalheiro & Cavalheiro, 2022; Ruslina, 2019). У том контексту интересантан је податак да се чак и биткоини који су заплењени у случају Silk Road, то јест њихово кретање кроз заплену и каснију аукцију, могу пратити у потпуности кроз записе у блокчејну (адреса новчаника који припада FBI: lFfmbHfnpaZjKFvyilokTjJJusN455paPH), те да су оба поступка морала да буду потврђена кроз процес верификације специфичан за биткоинов блокчејн протокол (Raskin, 2015).

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Проблем одређења временских координата четвртог таласа

Уколико уопште прихватимо идеју о новом таласу, чврсто стојећи на том становишту, можемо рећи да је блокчејн технологија темељ модерних глобалистичких активности, тим пре ако имамо у виду ситуационо и територијално неограничене могућности њене примене. Штавише, иако има оних који су у том смислу резервисани (Horvatić i Tafra, 2022), сматрамо да је овај вид технологије, по потенцијалним дометима и брзини усвајања, импресивнији од интернета. Компарације криптовалутног тржишта и интернета с почетка деведесетих година то потврђују (Syropyatov, 2021).

Почетак овог таласа глобализације, међутим, не можемо стриктно везати за моменат настанка блокчејн технологије а да тиме успешно разрешимо све недоумице које евентуално могу настати. Разлога је неколико, а два су, сматрамо, нарочито битна.

Најпре, блокчејн технологија није нова технологија per se. Блокчејн је први успешан спој технолошких идеја које су постојале и биле коришћене значајно пре формирања првих „низова података груписаних у блокове” (12).

Друго, први случајеви имплементације блокчејн технологије, иако успешни, прошли су незапажено ван информатичке заједнице. Блокчејн остаје потпуно непознат вид технологије широј јавности све до њене уградње у основе система плаћања (13) познатог под називом Биткоин (Horvatić i Tarfa, 2022). Тек од тренутка када је Биткоин мрежа постала оперативна, иако њена дистрибутивност симболизује универзалност (Ronaghi, 2023), блокчејн технологија суштински постаје глобални, доцније и мејнстрим феномен. Следи моменат настанка блокчејн технологије, иако кључне у техничком и суштинском смислу, због иницијално скромних домета, дакле, пре првих примера функционалне имплементације, не би га исправно било узети за почетак четвртог таласа глобализације.

Иако је творац система пажљиво одабрао тренутак како би истакао поенту у свом манифесту револуционарне реформе монетарног система (Sławiński, 2019), више је разлога због којих не можемо везати почетак четвртог таласа глобализације стриктно ни за крај 2008. године, када је објављен тзв. бели папир (14) (Raskin, 2015) нити за почетак 2009. године, када је мрежа постала оперативна.

Први разлог је тај што је кибернетизација и глобализација новца, следствено капиталистичког облика привређивања, суштински започела још 1971. године (Ström, 2020). Даље, Биткоин, ма колико импресивна идеја била, посматрано из перспективе нашег рада, суштински није ништа друго до тек први успешан пројекат имплементације блокчејн технологије на начин који промовише децентрализовану глобализацију. Биткоин је први приказ потенцијала технологије која у монетарној сфери омогућава поуздано креирање и трансфер дигиталних добара (Ronaghi, 2023), мада и то на начин који због читавог низа објективних околности компромитује његово усвајање као мејнстрим економског феномена (Syropyatov, 2021). Дакле, стварни домети блокчејн технологије биће спознати тек кроз пројекте који су се појавили значајно касније или који ће се тек појавити (15).

Штавише, потпуно смо сагласни са тим да биткоин не само да није једини, већ да није ни најнапреднији пројекат те врсте (Teomete Yalabik & Yalabik, 2019). Примера ради, из перспективе финансијског тржишта, stable coin пројекти, којима се покушава решити проблем волатилности, тренутно су иновација која највише обећава (Syropyatov, 2021). Трећи разлог је тај што је крај 2008. године, због економске кризе која је тај период обележила, исправније интерпретирати као посртање антидржавне, laissez faire глобалистичке методологије и јачање државног интервенционизма, него као нови талас глобализације (Mellor, 2020). Коначно, исправно интерпретирање Биткоина као феномена могуће је једино у контексту врло хетерогене групе догађаја међу којима нарочито место заузима проглашење пандемије изазване SARS-CoV-2 вирусом.

Наиме, 11. марта 2020. године Светска здравствена организација прогласила је пандемију SARS-CoV-2 вируса. Вирус који је узрок обољења познатог под називом ковид 19, постао је катализатор читавог низа процеса. Због природе пандемије, пре свега чињенице да је током трајања пандемије било неопходно свести физичке контакте на минимум, природно је да је потрага за алтернативним моделима функционисања свакодневних активности убрзала процес дигитализације (Mijatović, 2022).

У ред појава и процеса код којих је промена карактера и интензитета најизраженија на првом месту налази се процес трансформације новца, генерално и финансијског тржишта, што је уосталом и научно доказано (Vareško i Deković, 2022). Наиме, систем размене добара какав је карактеристичан за монетарне економије данашњице није одувек постојао, нити је кроз различите епохе функционисао на исти начин. Од скромних почетака неформалног робноновчаног промета, базираног на локализованом личном контакту (Ström, 2020), евентуално на једноставним бартер аранжманима (Calcaterra et al., 2020; Mellor, 2020; Ström, 2020), преко увођења ретких метала као опште мере вредности робе, до појаве првог кованог новца, затим банкнота, коначно и електронског новца као репрезентације новца који се већ налази у оптицају, новац је кроз сопствену апстракцију (Ström, 2020) пратио интензивирање друштвених односа. Његова социјална и материјална апстракција погодовала је интензивном и екстензивном ширењу капиталистичког начина привређивања (Ström, 2020). Последица је континуирано смањење просторне, временске, а затим и културне дистанце. Смањење различитих видова дистанце иницирало је ново апстраховање новца, што је, у складу с потребама све интензивнијег привредног живота, резултирало његовом метаморфозом у врло софистициран финансијски инструмент.

Биткоин осећа и прати тенденције у развоју новца, а у контексту савремених друштвених релација има савршен смисао. Најпре, очигледно је постојање тенденције изградње електронских облика чувања новца и система плаћања. Њихове предности су неспорне и сматра се да такви системи повећавају ефикасност и у виртуелном и у реалном свету (Vareško i Deković, 2022). Оно што је у почетку деловало као крајње несигурна концепција, прихваћено је и раширено у тој мери да монетарни системи најразвијенијих земаља, по правилу, функционишу без било какве физичке репрезентације новца, то јест као cashless заједница (Calcaterra et al., 2020). Како Биткоин промовише употребу најновијих информационих технологија за чување и трансфер новца, јасно је да је претходна тенденција уважена у потпуности. Штавише, Биткоин не само да уважава тенденцију дематеријализације новца већ је и наставља и уздиже на квалитативно виши ниво.

Кроз peer-to-peer систем на којем почива промовише се digital trust, што омогућава директне трансакције међу корисницима (Ruslina, 2019). Иако се то може тумачити као разлог несигурности система (Ruslina, 2019), на овај начин елиминише се потреба за акредитованим посредницима који су есенцијални у традиционалним системима плаћања (Živanović i Vitomir, 2022; Raskin, 2015; Ronaghi, 2023; Horvatić i Tafra, 2022; Cavalheiro & Cavalheiro, 2022). Такође, елиминише се и могућност да се деси „двострука потрошња” (Ruslina, 2019), све то уз истовремено унапређење брзине обављања трансакција и смањење провизија (Teomete Yalabik & Yalabik, 2019). Трошкови чувања средстава, осим уколико се корисник не одлучи да криптографске кључеве похрани на напреднији cold wallet, практично не постоје. Иако би интуитивнији кориснички интерфејс олакшао употребу, Биткоин мрежа промовише апсолутну монетарну инклузију свих заинтересованих лица, омогућава лак приступ средствима и њиховом управљању. Најзад, овај систем плаћања имун је на државну и међународну регулативу (16), а самим тим и на границе држава – практично их не познаје, што иде у прилог тенденцији апстракције, универзализације и денационализације средстава плаћања.

Иако је начин његове примене константно еволуирао (17) (Vareško i Deković, 2022), инсистирамо на томе да Биткоин није валута, већ да је у питању систем плаћања. Уосталом, у том капацитету је и коришћен примарно, конкретно ради куповине и продаје робе и услуга путем интернета (Vareško i Deković, 2022). Ипак, будући да је временом постајао све глобалнији и разноврснији као инструмент (Karabulut & Sari, 2022), Биткоин је најавио крупне промене на међународном, глобализованом тржишту роба и капитала (Živanović i Vitomir, 2022). Неке од њих су се и десиле у претходном периоду. Но, како објашњавамо везу између пандемије SARS-CoV-2 вируса, Биткоина и четвртог таласа глобализације (18)?

Биткоин је привукао масовно интересовање 2017. годинe када су „Биткоин” и „како купити биткоин” били најчешће коришћени појмови у популарним претраживачима попут Гугла (Cavalheiro & Cavalheiro, 2022). Разлог је једноставан. Уз уважавање осталих квалитета, основна снага Биткоина лежи у одсуству могућности повећања количине јединица у оптицају (19), затим одсуству могућности копирања појединачних јединица које „циркулишу” унутар система, најзад и математички пројектованој динамици „пуштања у оптицај” предвиђене количине јединица (20) (Raskin, 2015). На основу тога, можемо рећи да се биткоин понаша као изразито дефлаторна валута, свакако под условом да га уопште посматрамо као валуту.

С друге стране, модерне државе имају суверенитет у погледу одређења средства плаћања, а ексклузивитет одређивања куповне моћи тог средства, након аброгације „златног стандарда”, делегирале су својим централним монетарним установама. Традиционални новац у потпуности је завистан од одлука и регулативе централних банака (Ronaghi, 2023). Поверење у централне банке и њихову пројекцију суштински je једини принцип за одређење вредности новца. Принцип тржишне привреде, златни стандард, лимитирани златни стандард, величина привредног раста и други механизми за одређење вредности новца замењени су „принудним курсом”. Није, дакле, претеривање рећи да не постоје „природне” или барем концептуалне границе продукције новца (Mellor, 2020).

Модел може ефикасно функционисати у време када нема потреса, но све несавршености поставке до изражаја долазе управо у време криза, нарочито оним глобалних размера као што је пандемија вируса SARS-CoV-2, и то из разлога што на овакве кризе, када је привредни живот успорен или чак стопиран, а буџетска потрошња повећана, неоптерећене обавезом да за то обезбеде покриће, државе посежу за непопуларним мерама које подразумевају повећање количине новца у оптицају. (21) У таквом амбијенту, природно, систем који се базира једино на поверењу у централну монетарну институцију показује инфериорност у односу на систем који се базира на поверењу у математичке гаранције лимитиране понуде и сигурности плаћања. Следствено, тврдња о томе да се поверење у јавне (државне) институције не може поверити технологији (Sławiński, 2019) показује се као, благо речено, застарела. Ово је нарочито тачно након аброгације Bretton Woods споразума и „златног” стандарда када је окончана дефлаторна и започела инфлаторна ера у економској историји (Syropyatov, 2021). Дакле, иако је читав систем, након ере „слободног банкарства”, организован са циљем да обезбеди стабилност у временима кризе (Sławiński, 2019), парадоксално, управо у временима кризе показује се да је прерогатив државе у продукцији новца пре случајан него што је заиста потребан (Blaazer, 2020). Уосталом, случајеви Ел Салвадора (22) и Централноафричке Републике (23), у којима је усвојен низ прописа којима је Биткоин признат као средство плаћања у готово неограниченом капацитету, иако ове потезе треба тумачити као отворени економски експеримент, принципијелно потврђују капацитет ове иновације (24) (Cavalheiro & Cavalheiro, 2022) и стање у монетарним порецима.

У доба здравствене и економске кризе изазване пандемијом, повећана је потреба за укључењем реалне финансијске активе у портфолио (Živanović i Vitomir, 2022). Мисли се на тзв. safe haven имовину попут злата, затим и сребра (Živanović i Vitomir, 2022; Wen et al., 2022). Но, поред традиционалних облика заштитне финансијске активе, интересовање инвеститора усмерено је све више ка модерним облицима активе – примарно оне базиране на блокчејн технологији (Živanović i Vitomir, 2022). У њима, пре свега биткоину, могуће је наћи сличне, потенцијално чак и боље safe heaven особине него код злата (Ronaghi, 2023; Wen et al., 2022) или деоница (Vareško i Deković, 2022). Штавише, иако је истина да се биткоин суштински налази негде између злата и америчког долара (Syropyatov, 2021), истраживања недвосмислено потврђују како је диверсификација кроз биткоин, под условом да је у портфолио укључен и неки од традиционалних облика активе, добар потез чак и код оних инвеститора који нису склони ризику (Šoja i Senarthne, 2019).

Релативно ниска базна вредност биткоина у првим годинама трговања, услед огромног интересовања инвеститора за ову до тада непознату финансијску активу, у 2019. години мења се и постаје изузетно висока, а наставља да расте напоредно са негативним утицајем пандемије у наредном периоду (Živanović i Vitomir, 2022). У условима кризе изазване пандемијом, због изразитог државног интервенционизма и централизације у свим областима, биткоин као инструмент имун на државну регулативу и аполитичан, па и у односу на злато, испољава и неке додатне предности (Wen et al., 2022).

Истовремено са испољавањем првих слабости традиционалних централизованих монетарних система под притиском пандемије, изразито дефлаторна природа биткоина бива додатно истакнута кроз тзв. трећи halving event који се догодио 11. маја 2020. године. У таквим условима вредност биткоина иницијално расте безмало 10 пута и у наредном периоду достиже вредност од готово 65.000 америчких долара за један биткоин.

Цена биткоина изузетно је интересантан показатељ. Познато је, наиме, да цена биткоина зависи једино од односа понуде и тражње, односно потражње, будући да је понуда програмски ограничена и укупно и периодично. Прецизније, укупна количина биткоина који се могу наћи у оптицају је ограничена кодом на 21.000.000, али је, због програмиране динамике пуштања у оптицај, тренутно у промету тек нешто више од 90% укупне количине. Дакле, према ценама формираним на специјализованим платформама, у условима двоструко ограничене понуде, произлази да је тражња за биткоином у једном тренутку била многоструко већа од тражње за најјачом класичном валутом.

Тачно је да таква цена није била одржива, па је јењавањем пандемије и консолидацијом финансијских токова тражња за биткоином опадала. У тренутку израде рада креће се око 20.000 америчких долара. У том смислу, сасвим се чини рационалном критика волатилности цене биткоина, али и шпекулативног карактера овог облика имовине (Šoja i Senarathne, 2019). Критика нестабилности, иако постоји сасвим рационална и до детаља описана аргументација зашто се суштински дешава (Syropyatov, 2021), апсолутно је на месту. Нагли пораст и пад цене није нешто што је неуобичајено када је у питању криптоимовина, а оваква тенденција ће се засигурно наставити барем до момента када тржиште достигне критични волумен. То природно подгрева неповерење. Међутим, само на први поглед.

Наиме, када би подухват који је апсолутна новина, на иначе врло ригидном финансијском тржишту, била номинално барем једнака најјачој валути, то би био изузетан резултат по себи. Но, без обзира на значајан пад цене у односу на 2021. годину, садашња цена показује да су субјекти на финансијском тржишту, грубо речено, у 19.999 трансакција пре вољни да прихвате биткоин него амерички долар. Из реторичког питања „какво је онда стање са поверењем у остале, релативно слабије валуте?” произлази као сасвим логичан закључак да биткоин и други слични пројекти неспорно преузимају примат и савремено финансијско тржиште постепено обликују у децентрализовано окружење имуно на државну регулативу, следствено државне и све друге врсте граница.

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1. Технолошке иновације о којима говоримо подразумевају, без претензија да их све обухватимо, имплементацију TCP/IP технологије, изградњу напреднијих програмских језика, напредак криптографије, нарочито hash функција, конструисање тзв. Меркеловог дрвета. Творац Биткоина, такође, успешно је комбиновао искуства неких ранијих покушаја изградње дигиталних валута, примера ради B-money и HashCash (Antonopoulos, 2010).
2. Иако има елемената на основу којих је Биткоин могуће исправно интерпретирати као валуту, идеја творца била је заправо најпре да створи економичнији и ефикаснији систем плаћања, пре свега код трансфера мале вредности (Živanović i Vitomir, 2022). Зато смо склонији ка томе да овај софтвер означимо као систем плаћања.
3. Исто важи и за моменат регистрације интернет домена www.bitcoin.org, за који неки аутори (Živanović i Vitomir, 2022) везују укључивање Биткона на међународно финансијско тржиште.
4. Могућност употребе блокчејн технологије није ограничена на изградњу система плаћања. У (децентрализованом) финансијском систему она се већ сада користи за формирање штедних улога, издавање полиса осигурања, пласирање кредита, трговање и управљање акцијама и обвезницама, прикупљање оснивачког капитала. Ван финансијског система она има потенцијал да се искористи за формирање катастара, вођење и чување медицинских картона или праћење пређене километраже коришћених аутомобила. Штавише, почетком јула 2020. године на референдуму је, поводом предложених уставних промена у Русији, део становништва са правом гласа своје активно бирачко право реализовао кроз софтвер базиран на блокчејн технологији. Детаљније о другим облицима коришћења блокчејн технологије видети у Ronaghi, 2023.
5. У том контексту, Ронаги (2023) нуди опсежну студију о томе како је увођење санкција Ирану од стране САД и ЕУ погодовало промоцији криптовалута, пре свега Биткоина, са циљем превазилажења негативних ефеката забрана које су у вези са интернационалним пословањем привредних субјеката, али и са свакодневним активностима појединаца на територији ове земље.
6. Ово потврђује и свеобухватна студија о броју, врстама и дистрибуцији патената који се односе директно на Биткоин, а који унапређују софтверску поставку на којој функционише. О томе детаљније видети у Cavalheiro & Cavalheiro, 2022.
7. Ипак, слажемо се у потпуности са ауторима који указују на то да је због релативне краткоће времена трајања врхунца пандемије и дневних флуктуација тешко извести сигурне закључке, не толико да ли је, већ у којој мери је пандемија заправо иницирала промене на традиционалном финансијском тржишту (Vareško i Deković, 2022).
8. Укупна количина биткоина која се може наћи у оптицају ограничена је на 21.000.000 кроз тзв. source code који се сматра непроменљивим. Ипак, будући да је Биткоин суштински особени софтвер, он није апсолутно затворен за измене, но, да би се таква измена десила у потпуно децентрализованом систему, потребно је да већина „нодова” у мрежи изрази сагласност са предложеним повећањем волумена биткоина. Сасвим је основано закључити да у мрежи са хиљадама „нодова” који су„DeFi ентузијасти” није вероватно формирати већину око става да се мрежа одрекне „ограничене понуде” као особине која је чини апсолутно супериорном у односу на традиционалне монетарне системе.
9. Мрежа је програмирана тако да се комплексност математичког проблема који је потребно решити у процесу „рударења” управља према количини већ изрудареног биткоина. Сваки блок има капацитет од 1МВ, што му омогућава да у себи меморише око 4.000 трансакција. Блок плански бива попуњен сваких 10 минута у просеку. Сваким додатим блоком у оптицај се пушта одређена количина нових биткоина. На сваких 210.000 доданих блокова, број биткоина који ће бити пуштен у оптицај по блоку смањује се за једну половину (halving). То нам омогућава да имамо извесну динамику пуштања јединица у оптицај (Antonopoulos, 2014; Horvatić i Tafra, 2022).
10. Примера ради, процена је да су само Сједињене Америчке Државе у последњих неколико месеци у оптицај пустиле преко 3,5 трилиона нових банкнота, а да је Европска централна банка дала зелено светло за штампање преко једног трилиона евра.
11. Ley Bitcoin, Diario Oficial ES, 110/2021, Decreto No 57.
12. République Centrafricaine Cryptomonnaie, Journal Officiel CAF, 22/2022.
13. Ова настојања, иако и она потврђују капацитет криптовалута заснованих на блокчејн технологији, суштински не треба мешати са настојањима држава или наддржавних институција да изграде своје дигиталне и криптовалуте. О томе детаљније видети у Mijatović, 2022.

Закључна разматрања (увод у наредни рад)

Процес дигитализације новца реорганизује постојећу пословну праксу и доноси социјалне, политичке, онтолошке, чак и еколошке промене, a истовремено интензивира концетрацију и централизацију у процесу доношења одлука на глобалном нивоу (Ström, 2020). Но, криптовалуте, пре свега Биткоин, иако јесу дигиталне по свом карактеру, не прате ову тенденцију. Управо супротно, Биткоин почива на идеји свесног одрицања контроле управљачких механизама у корист мреже компјутера која покреће софтвер (Magnuson, 2022; Ruslina, 2019). Он представља модел утопијског нивоа глобалне децентрализације, и то не само у финансијском сектору. То је темељна идеја која је окупила највећи, свакодневно растући број учесника у систему (25).

Иако је због новине феномена и непостојања адекватне временске дистанце у односу на коју бисмо процењивали стварне ефекте незахвално изводити закључке или правити пројекције, сматрамо, а то је уједно став и у академским круговима, да криптовалуте представљају изванредну новину (Karabulut & Sari, 2022). Оне засноване на блокчејн технологији, а које нису централизоване, имају моћ да национална тржишта претворе у регионална, а регионална даље у глобална. У том смислу заиста делује као да историја глобализације не памти инструмент који у тој мери интензивира дешавања и процесе.

Уколико то ипак није довољно за закључак да су криптовалуте, засноване на блокчејн технологији, изванредан катализатор процеса глобализације, онда треба нагласити следеће. Изградња и пуштање у рад Биткоина, али и читавог низа других пројеката, објективно, у другом је плану у односу на изградњу такозваног DeFi система, којем су пут трасирала техничка и економска решења имплементирана у Биткоин. Систем је осмишљен тако да у својој идеалној форми, уз напомену да је систем још увек у изградњи, обезбеђује: 1) пуну контролу средстава; 2) апсолутну инклузивност; 3) децентрализовану верификацију исправног рада система; 4) неограничену могућност изградње нових финансијских услуга и производа (Werner et al., 2021). Андреас Антонопулос у својим многобројним предавањима прави аналогију у односу на интернет из времена када је једина апликација унутар система била имејл. Он истиче да уколико DeFi монетарни систем упоредимо са интернетом, Биткоин, иако импресиван по својим технолошким решењима, био би тек имејл, односно прва функционална апликација унутар система. Данас, верујемо, не најбоља и дефинитивно не једина.

Иако идеја делује футуристички, делови DeFi система постају видљиви. Унутар њега је већ могуће успешно куповати, продавати, штедети, закључити уговор о осигурању или кредиту, трговати акцијама, инвестирати, водити хуманитарне фондове, све без интервенције државе, без посредника, без територијалних ограничења, уз криптографски гарантовану безбедност (26). Према доступним подацима, простор је у сталном порасту: конкретно, за непуне две године укупна вредност у промету је порасла са 700 милиона на 150 милијарди америчких долара (Werner et al., 2021). Систем је у повоју и потребно је још много рада да би он постао потпуно оперативан и одржив на нормативном нивоу (Werner et al., 2021). Но, чињеница је да на идеолошком нивоу представља озбиљну претњу постојећем ригидном финансијском систему.

Ипак, степен глобализованости којем данашње друштво тежи не окончава се ни окончањем радова на изградњи DeFi система. Ако уз извесну дозу апстракције пратимо претходно поменуту аналогију Андреаса Антонопулоса, слично као што Биткоин налази примену као један од функционалних елемената DeFi система без обзира на ком блокчејну је изграђен, DeFi систем је тек један од механизма, односно апликација унутар далеко већег пројекта познатог под називом Web 3.0. Блокчејн технологија сматра се есенцијалном за реализацију сада већ мејнстрим идеја у технолошком свету познатих као „интернет ствари” (IoT) и „интернет свега” (IoE) (Horvatić i Tafra, 2022). Ови пројекти децентрализовану глобализацију промовишу шире, тј. ван економских токова, наравно, примарно у дигиталном свету. Но, како су свакодневне активности данас неодвојиво везане за интернет, остварени ефекти глобализованости у дигиталном свету, очекивано, прелиће се у све сфере друштвеног живота.

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1. И не само да је број учесника у мрежи и корисника у сталном порасту, већ је и тржиште криптовалута све веће према економским критеријумима. Процена је да само тржиште биткоина достиже размере од 1,2 трилиона америчких долара (Cavalheiro & Cavalheiro, 2022).
2. Приказ појединих маркантних решења са техничким специфичностима, мада нису сви део DeFi система, видети у Mijatović, 2022.

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Литература

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• Karabulut, T., & Sari, S. S. (2022). The attitude of academic staff towards bitcoin. Ekonomski vjesnik, 35 (1), 55−67. https ://doi.org/10.51680/ev.35.1.5
• Magnuson, J. W. (2022). The failure of market efficiency. Brigham Young University Law Review, 48(3), 827−908. http ://dx.doi.org/10.2139/ssrn.4096270
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• The latest firmware updates for COLDCARD devices introduce two major features: COLDCARD Co-sign (CCC) and Key Teleport between two COLDCARD Q devices using QR codes and/or NFC with a website.

What's new

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

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

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

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

  • For more technical details, see the protocol spec.

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

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

Fixes

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

Blog Post / Archive
GitHub Repo
CCC Guide
Key Teleport site

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Good morning (good night?)! The No Bullshit Bitcoin news feed is now available on Moody's Dashboard! A huge shoutout to sir Clark Moody for integrating our feed.

Headlines

• Spiral welcomes Ben Carman. The developer will work on the LDK server and a new SDK designed to simplify the onboarding process for new self-custodial Bitcoin users.

• The Bitcoin Dev Kit Foundation announced new corporate members for 2025, including AnchorWatch, CleanSpark, and Proton Foundation. The annual dues from these corporate members fund the small team of open-source developers responsible for maintaining the core BDK libraries and related free and open-source software (FOSS) projects.
• Strategy increases Bitcoin holdings to 538,200 BTC. In the latest purchase, the company has spent more than $555M to buy 6,556 coins through proceeds of two at-the-market stock offering programs.
• Spar supermarket experiments with Bitcoin payments in Zug, Switzerland. The store has introduced a new payment method powered by the Lightning Network. The implementation was facilitated by DFX Swiss, a service that supports seamless conversions between bitcoin and legacy currencies.

• The Bank for International Settlements (BIS) wants to contain 'crypto' risks. A report titled "Cryptocurrencies and Decentralised Finance: Functions and Financial Stability Implications" calls for expanding research into "how new forms of central bank money, capital controls, and taxation policies can counter the risks of widespread crypto adoption while still fostering technological innovation."
• "Global Implications of Scam Centres, Underground Banking, and Illicit Online Marketplaces in Southeast Asia." According to the United Nations Office on Drugs and Crime (UNODC) report, criminal organizations from East and Southeast Asia are swiftly extending their global reach. These groups are moving beyond traditional scams and trafficking, creating sophisticated online networks that include unlicensed cryptocurrency exchanges, encrypted communication platforms, and stablecoins, fueling a massive fraud economy on an industrial scale.
• Slovenia is considering a 25% capital gains tax on Bitcoin profits for individuals. The Ministry of Finance has proposed legislation to impose this tax on gains from cryptocurrency transactions, though exchanging one cryptocurrency for another would remain exempt. At present, individual 'crypto' traders in Slovenia are not taxed.
• Circle, BitGo, Coinbase, and Paxos plan to apply for U.S. bank charters or licenses. According to a report in The Wall Street Journal, major crypto companies are planning to apply for U.S. bank charters or licenses. These firms are pursuing limited licenses that would permit them to issue stablecoins, as the U.S. Congress deliberates on legislation mandating licensing for stablecoin issuers.

"Established banks, like Bank of America, are hoping to amend the current drafts of [stablecoin] legislation in such a way that nonbanks are more heavily restricted from issuing stablecoins," people familiar with the matter told The Block.

• Charles Schwab to launch spot Bitcoin trading by 2026. The financial investment firm, managing over $10 trillion in assets, has revealed plans to introduce spot Bitcoin trading for its clients within the next year.

Use the tools

• Bitcoin Safe v1.2.3 expands QR SignMessage compatibility for all QR-UR-compatible hardware signers (SpecterDIY, KeyStone, Passport, Jade; already supported COLDCARD Q). It also adds the ability to import wallets via QR, ensuring compatibility with Keystone's latest firmware (2.0.6), alongside other improvements.
• Minibits v0.2.2-beta, an ecash wallet for Android devices, packages many changes to align the project with the planned iOS app release. New features and improvements include the ability to lock ecash to a receiver's pubkey, faster confirmations of ecash minting and payments thanks to WebSockets, UI-related fixes, and more.
• Zeus v0.11.0-alpha1 introduces Cashu wallets tied to embedded LND wallets. Navigate to Settings > Ecash to enable it. Other wallet types can still sweep funds from Cashu tokens. Zeus Pay now supports Cashu address types in Zaplocker, Cashu, and NWC modes.
• LNDg v1.10.0, an advanced web interface designed for analyzing Lightning Network Daemon (LND) data and automating node management tasks, introduces performance improvements, adds a new metrics page for unprofitable and stuck channels, and displays warnings for batch openings. The Profit and Loss Chart has been updated to include on-chain costs. Advanced settings have been added for users who would like their channel database size to be read remotely (the default remains local). Additionally, the AutoFees tool now uses aggregated pubkey metrics for multiple channels with the same peer.
• Nunchuk Desktop v1.9.45 release brings the latest bug fixes and improvements.
• Blockstream Green iOS v4.1.8 has renamed L-BTC to LBTC, and improves translations of notifications, login time, and background payments.
• Blockstream Green Android v4.1.8 has added language preference in App Settings and enables an Android data backup option for disaster recovery. Additionally, it fixes issues with Jade entry point PIN timeout and Trezor passphrase input.
• Torq v2.2.2, an advanced Lightning node management software designed to handle large nodes with over 1000 channels, fixes bugs that caused channel balance to not be updated in some cases and channel "peer total local balance" not getting updated.
• Stack Wallet v2.1.12, a multicoin wallet by Cypher Stack, fixes an issue with Xelis introduced in the latest release for Windows.
• ESP-Miner-NerdQAxePlus v1.0.29.1, a forked version from the NerdAxe miner that was modified for use on the NerdQAxe+, is now available.
• Zark enables sending sats to an npub using Bark.

• Erk is a novel variation of the Ark protocol that completely removes the need for user interactivity in rounds, addressing one of Ark's key limitations: the requirement for users to come online before their VTXOs expire.
• Aegis v0.1.1 is now available. It is a Nostr event signer app for iOS devices.
• Nostash is a NIP-07 Nostr signing extension for Safari. It is a fork of Nostore and is maintained by Terry Yiu. Available on iOS TestFlight.
• Amber v3.2.8, a Nostr event signer for Android, delivers the latest fixes and improvements.
• Nostur v1.20.0, a Nostr client for iOS, adds

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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

@ 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

@ beef3d4d:479b72bc

Costantino e il solidus

Quando Costantino il Grande prese in mano le redini dell'impero, ne risollevò le sorti adottando riforme economiche lungimiranti. Tra gli impegni assunti, il più importante fu quello di mantenere il solidus a 4,5 grammi d'oro senza tagli o svalutazioni, coniandolo in grandi quantità a partire dal 312 d.C.. Spostò poi la capitale verso est, a Bisanzio, nel punto di incontro tra Asia ed Europa, dando vita all'Impero Romano d'Oriente, che adottò il solidus come moneta.

Mentre Roma continuava a deteriorarsi economicamente, socialmente e culturalmente, crollando infine nel 476 d.C., Bisanzio, poi rinominata Costantinopoli, sopravvisse per quasi 1200 anni, e il solidus divenne la moneta più longeva e accettata della storia.

Il nome Bisanzio vuole quindi essere un omaggio alla saggezza di Costantino e celebrare l’unica moneta nella storia dell’umanità capace di durare oltre un millennio. Un esempio ed un auspicio per la Bitcoin, moneta di oro digitale che ci accompagnerà per un lunghissimo tempo.

\ Vedi anche: Monetazione bizantina su Wikipedia.

Il problema dei generali bizantini

Il termine Bitcoin soffre di un’ambiguità semantica: con lo stesso termine si indicano due cose ben diverse tra loro: il protocollo di comunicazione e la moneta digitale costruita su di esso. Bitcoin inteso come protocollo rappresenta la prima soluzione a un problema informatico, centrale per il funzionamento di sistemi distribuiti, denominato problema dei generali bizantini, formulato nel 1982 e che e’ rimasto irrisolto per decenni.

La sua formulazione e’ tipicamente la seguente:

> Diverse divisioni dell’esercito bizantino, ciascuna guidata da un generale, sono accampate in posizioni strategiche attorno a una città nemica e dovono condividere una strategia di attacco coordinato per poter sopraffare il nemico. Le divisioni possono comunicare solo mediante messaggeri al fine di coordinare l’attacco decisivo. Il terreno impedisce alle divisioni bizantine di comunicare a distanza e queste possono comunicare solo tramite dei messaggeri. Come possono le varie divisioni accordarsi per un attacco congiunto sapendo che i messaggeri che inviano potrebbero essere catturati dal nemico, o che alcuni generali potrebbero addirittura tradire e mandare messaggeri con ordini sbagliati?

Il problema che devono risolvere i generali bizantini è lo stesso che affligge i sistemi di elaborazione distribuiti. Come raggiungere un consenso su una rete distribuita in cui alcuni nodi che la costituiscono possono essere difettosi o corrotti?

Il protocollo Bitcoin offre una soluzione a questo problema introducendo il concetto di “prova di lavoro” (proof of work) e della “catena di blocchi” (blockchain). E quindi, nuovamente, il nome Bisanzio si collega a Bitcoin ed alla principale innovazione tecnologica da esso introdotta.

Vedi anche: Byzantine fault su Wikipedia.

PS

Come resistere poi alla disponibilità del dominio internet bisanz.io? :)

@ 9be0be0e:c3cbb81e

I’m not sure if nostr:npub180cvv07tjdrrgpa0j7j7tmnyl2yr6yr7l8j4s3evf6u64th6gkwsyjh6w6 had a Web of Trust in mind when designing nostr and its use of public contact lists but I think it’s very important to nostr’s future.

Technically there is no need to publish a follow list, if a nostr client wants to show a feed of follows it just needs a list of contacts, this list does not need to exist in public or on relays, but the fact that it does is what makes the Web of Trust work.

Accidental

The only other Web of Trust that I know of is PGP’s Web of Trust, it is only used by IT and security people, which is also the reason why it is unusable for most people. It leaves no room for error because security has the highest priority in those circles.

But on nostr the Web of Trust is a side effect of just following people. You press Follow a few times and you are accidentally building a Web of Trust without even knowing it. It might not be perfect, but that’s also why it works, because it is so simple, like nostr itself.

Attempts to “fix” or improve the Web of Trust should be made with that simplicity in mind. Creating new lists with granularity of people you really trust, partially trust, don’t trust at all etc are all great, but this will make it possible for it to end up like PGP. Nostr’s Web of Trust works precisely because people don’t have to think about it.

There is also this idea that likes, reposts or any signal that can be made by users are useless because they can be gamed, but they can only be gamed if you don’t use a Web of Trust.

Web of Trust fixes almost everything

nostr:note1a8nq7kdqgr20dnvzmhv2a6quy8vx3l56pfzjlly3jv2u2l55exhs84cev8

Web of Trust fixes spam, bots, abuse of trending/hot algorithms

Zaps were supposed to fix the problem of gaming/abusing likes or reposts, but Web of Trust fixes it better. Zaps are useful for sending value, so let’s use it to send actual value. 1 sat zaps are not much different from Like-spam and considering the technical overhead required for zaps and possibility for timeouts and failures it’s actually worse.

So, Web of Trust Makes Likes Great Again, and with that you can make algorithms that are useful to the individual instead of the advertisers or platforms.

Example of a most basic Web of Trust filter (follows + follows of follows)

Nostur uses follows + follows of follows to filter spam and bots, and it uses likes and reposts from follows uniquely ranked to create Hot and Gallery feeds.

Another example is nostr:npub1yxprsscnjw2e6myxz73mmzvnqw5kvzd5ffjya9ecjypc5l0gvgksh8qud4‘s https://oddbean.com, a community website where the content of the community is based on the administrator’s follows, the algorithm is incredibly simple and transparent, and it wouldn’t be possible if nostr did not have an accidental Web of Trust:

Challenges

Now there are still some challenges to be solved, new users being onboarded won’t have a Web of Trust yet, maybe we could give them training wheels, a preloaded Web of Trust until they followed enough people to use their own.

Also, new users don’t exist in anyone else’s Web of Trust yet, so they won’t be seen until someone follows them. This is not a good new user experience.

You also might miss someone’s post because they are not in your Web of Trust yet.

These are all challenges and I will keep exploring solutions for these.

@ 91117f2b:111207d6

The debate about the strongest superhero between Marvel and DC has been ongoing for decades. Here's a breakdown of the top contenders:

Top 3 Strongest Marvel Heroes:

• Thor: As the Asgardian God of Thunder, Thor possesses formidable strength, durability, and control over elements like lightning and storms. His mastery over Mjolnir, his enchanted hammer, makes him a force to be reckoned with.

• Silver Surfer: With his Power Cosmic, Silver Surfer wields immense energy manipulation abilities, super strength, and speed. He's a formidable opponent in the Marvel universe.

• Thanos: As a powerful Eternal with Deviant genes, Thanos possesses extraordinary strength, durability, and regenerative abilities. His cosmic energy manipulation and telepathic skills make him nearly unbeatable.

Top 3 Strongest DC Heroes:

• Superman: With his Kryptonian origin, Superman's abilities include immense strength, speed, invulnerability, and sensory powers like heat vision and X-ray vision.

• Spectre: As the physical embodiment of the Wrath of God, Spectre has near-omnipotent power levels, manipulating time, space, matter, and energy on a cosmic scale.

• Doctor Manhattan: With his ability to perceive and manipulate reality, Doctor Manhattan's powers are unparalleled. He can alter the course of history and disintegrate foes with a mere thought.

The Strongest of Them All

According to recent rankings, the One Above All from Marvel takes the top spot as the most powerful character, surpassing even the likes of Spectre and Doctor Manhattan. The One Above All's omnipotent nature and role as the creator of the Marvel multiverse solidify its position as the ultimate authority ¹.

Ultimately, determining the strongest superhero between Marvel and DC is subjective and depends on the context of the story or battle. Both universes boast an array of formidable characters, each with unique abilities and strengths. In other words the strongest, and in a death match depends on the character, powers and the story context. But in all DC is said to be the strongest in a group fight of both MARVEL and DC.

@ 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.

---

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

---

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...

Life is good.

---

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:

@ 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

@ dfa02707:41ca50e3

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

@ 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

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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.

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Final thought...

East Coast aesthetics over everything.

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

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@ e97aaffa:2ebd765d

O mercado imobiliário português está a viver uma enorme bolha. É tão grave, está se tornando mais que uma crise de habitação, mas sim uma crise geracional. Os jovens portugueses não conseguem comprar casa, acabam por adiar indefinidamente a criação da família ou ter filhos, ou então a solução mais fácil é emigrar. Esta crise está a condenar a gerações mais novas e sem os mais novos, condenamos o futuro do país.

Problema

A origem do problema é o excesso de procura/demanda, Portugal ficou na moda, o turismo cresceu exponencialmente, quase diariamente são inaugurados novos hotéis nos centros das cidades e também houve um forte crescimento Alojamento Local(Airbnb). Tudo isto removeu muitas casas do mercado.

Além disso, Portugal tornou-se num destino para aposentados de outros países, sobretudo do norte da Europa e de nómadas digitais, que têm um poder de compra muito elevado, muito superior aos locais.

Para complicar ainda mais, nos últimos 5 anos houve uma imigração descontrolada, em plena crise de habitação, a população aumentou 20%. Com tanta gente nova, onde vai morar tanta gente?

Todos os portugueses, sobretudo nos grandes centros, conhecem casos de casas sobrelotadas, 10 ou 20 ou 30 pessoas a viver na mesma casa. É desumano, é uma escravatura moderna. Depois estas pessoas fazem concorrência desleal, porque eles podem pagar rendas de casas altas, o custo é dividido por 20 pessoas, enquanto os jovens casais portugueses não conseguem pagar.

Não existe um único problema, é uma soma de vários problemas, que gera uma enorme bolha.

Oferta

Tudo isto resultou num aumento da procura por habitação, mas como em tudo na economia, sempre que existe um aumento da procura, posteriormente o mercado ajusta-se, com o aumento da oferta, só que isso não está a acontecer.

A oferta de nova habitação é extremamente baixa, é insuficiente para o volume da procura. Até parece estranho, se o preço das casas estão muito elevadas, porque razão os promotores imobiliários não constroem mais?

Aqui está a razão da crise da habitação do mercado português, parece um problema sem solução.

A burocracia, a falta de terrenos, os impostos altos, falta de trabalhadores, tudo isto contribui para a crise na oferta, mas estes problemas sempre existiram em Portugal, não é uma coisa de hoje. Há 15 anos, mesmo com esses mesmo problemas, o mercado florescia, claramente dificultava mas não foram um entrave.

A meu ver, o problema está no financiamento.

Até à crise do subprime, os promotores imobiliários financiavam-se, quase em exclusividade na banca, com o juro muito baixo. Durante a crise, os casos mais problemáticos de crédito malparado foram de promotoras imobiliárias e de empresas de construção civil.

A crise do subprime e posteriormente a crise das dívidas soberanas, levou a UE a criar novas regras bancárias, onde criou muitas restrições ao acesso ao crédito por parte das empresas. Essas novas regras, que limitou o acesso ao crédito, provocaram uma alteração no modelo de financiamento das promotoras imobiliárias. Em vez de se financiarem na banca, os promotores vendiam primeiro as casas, antes de as construir. As promotoras recebiam parte do dinheiro e com esse dinheiro, financiavam a obra.

O modelo funcionou até ao pós pandemia, a impressão de dinheiros por parte dos governos foi monstruosa, criando uma forte inflação. Essa inflação provocou uma forte subida de preço nos materiais de construção e na mão de obra. Como as promotoras venderam as casas anteriormente, o valor que venderam as casas não foi suficiente para cobrir os novos custos da construção. Este problema provocado pela inflação, não afetou apenas o imobiliário, mas sim toda a economia, foram milhares de obras, por todo o país que não foram concluídas, as empresas faliram.

Este problema de financiamento, afecta sobretudo o mercado imobiliário da classe média, onde o custo é mais controlado, onde as empresas têm uma menor margem de lucro, o mínimo erro pode provocar uma falência. Por esse motivo, mas empresas de construção estão a preferir construir, o imobiliário de luxo, onde a margem de lucro é superior, minimiza a margem de erro. Mas o grande problema, é que falta habitação para a classe média.

A inflação é um grande problema, gera muita instabilidade nas empresas, torna-se imprevisível fazer um orçamento. Se a inflação é um forte contribuidor para o problema da habitação em Portugal e em breve teremos mais uma emissão massiva de novo dinheiro, por parte do BCE, parece um problema sem solução. As empresas terão que arranjar um novo método de financiamento, ou adaptar-se à inflação. Uma coisa é quase certa, na próxima década vamos ter alta inflação, porque é a única maneira para evitar o colapso dos governos, devido às enormes dívidas soberanas.

Procura/demanda

A resolução do problema do aumento da oferta é tão complexo, os governos vão optar pelo caminho mais fácil e populista, atacar a procura.

Nos próximos anos, os governos vão aprovar medidas mais autoritárias e antidemocráticas para minimizar o problema. Medidas como impedir os estrangeiros ou não residentes de adquirirem casas, impostos muito altos para 2° habitação, para forçar a venda ou o arrendamento, os Airbnb também serão um alvo.

Em suma, quem tiver uma casa como reserva de valor, para fugir à inflação, será declarada persona non grata.

Fix the money, Fix the world!

@ 04c3c1a5:a94cf83d

nostr:nprofile1qyf8wumn8ghj7cnfw3ehgctrdvhxzursqyv8wumn8ghj7et49ec82unsd3jhyetvv9ujucm0d5qzqpxrcxj33hdgt40grhyqt9srj02ja2gw40twwsg04hhh8k55e7pajuqn23

hey

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@ 04c3c1a5:a94cf83d

hey

@ 2aa53cab:e338bfac

The Problem with Traditional Banking

Let's be honest: traditional banking isn't working for everyone. High remittance fees eat into your hard-earned money, especially for cross-border transactions. Know Your Customer (KYC) barriers exclude millions from basic financial services. Banks hold only a fraction of your deposits in reserve, and when they fail—well, we've all seen what happens during financial crises.

These aren't just inconveniences; they're fundamental flaws in a system that was built for a different era. When you deposit money in a bank, you're essentially lending it to them, trusting they'll give it back when you need it. But what if there was a better way?

Bitcoin and the Self-Custody Revolution

In 2009, Bitcoin introduced something revolutionary: the ability to be your own bank. Now we're witnessing the emergence of a borderless, permissionless financial system that puts power back in the hands of individuals.

Self-custody embodies a simple but powerful principle: "Your keys, your assets." Unlike traditional banking where institutions control your funds, self-custody wallets give you complete ownership and control. No one can freeze your account, limit your transactions, or decide how you use your money.

This isn't just about technology - it's about financial freedom and democratization. Blockchain's distributed consensus mechanism allows secure, peer-to-peer transactions without centralized authorities, solving the fundamental problem of digital money: preventing the same funds from being spent twice.

The Challenges We Face

Of course, this financial revolution isn't without hurdles:

Security Concerns: Losing your private keys means losing your funds - forever. While solutions like multi-signature wallets and social recovery mechanisms are emerging, the responsibility can feel overwhelming for newcomers.

Regulatory Uncertainty: Governments worldwide are still figuring out how to regulate crypto. The EU's new crypto-asset framework and similar initiatives in Dubai and Switzerland are steps in the mixed directions, additionally inconsistent regulations create confusion.

Technical Complexity: Bitcoin can take up to 60 minutes to confirm transactions, making it impractical for daily use. However, solutions like the Lightning Network are addressing these limitations.

Environmental Impact: Bitcoin's energy consumption is significant - 45.8 TWh annually as of 2018. Yet emerging research suggests Bitcoin mining actually supports renewable energy development and grid stability.

The Research Gap

Despite these challenges, something remarkable is happening. The crypto industry has matured significantly - compliance is improving, technology is advancing, and user experience is getting better.

But here's what's missing: understanding. While blockchain technology offers unprecedented financial autonomy, most people still don't understand how it works or why it matters. Self-custody remains under-researched and under-utilized, creating a gap between the technology's potential and its actual adoption.

This gap prompted me to ask a critical question: What actually drives people to adopt self-custody wallets? To find answers, I conducted comprehensive research using the Unified Theory of Acceptance and Use of Technology (UTAUT) - a well-established psychological framework for understanding technology adoption.

My Research: Uncovering What Really Matters

I extended the traditional UTAUT model with additional factors specific to blockchain technology, including Technology Awareness, Personal Innovativeness in IT, and Perceived Control. After distributing questionnaires and gathering responses from 131 participants, I analyzed the data using advanced regression analysis methods.

The results challenged everything we thought we knew about technology adoption.

Surprising Finding #1: Traditional Factors Don't Matter

Conventional wisdom suggests that people adopt new technologies because they're useful or easy to use. My research revealed the opposite for self-custody wallets. Performance Expectancy (how useful people think the technology is) and Effort Expectancy (how easy they think it is to use) showed no significant influence on adoption decisions.

This finding is gripping. It suggests that when it comes to transformative technologies like blockchain, people's adoption decisions aren't driven by traditional utility calculations. Instead, they're motivated by something deeper.

Surprising Finding #2: Control Isn't What You Think

Even more unexpected was the role of Perceived Control. While individual analysis showed that feeling in control positively influenced adoption intentions, this effect completely disappeared - and even became slightly negative—when other factors were considered.

This paradox reveals something profound about technological maturity: as people develop deeper awareness of blockchain technology, they begin to understand the inherent limitations of control - even in self-custody systems. While Bitcoin offers significantly more control than traditional finance, truly informed users recognize that complete control is still an illusion.

Consider the realities: network congestion can delay transactions, protocol upgrades require consensus, market volatility affects value regardless of custody method, and the broader ecosystem still depends on exchanges, miners, and developers. As users become more technologically aware, they shift from seeking the illusion of total control to appreciating the relative autonomy that self-custody provides compared to traditional banking.

What Actually Drives Adoption

Research identified three critical factors that truly drive self-custody adoption:

1. Facilitating Conditions + Technology Awareness: The strongest predictor of adoption was having access to support resources combined with understanding blockchain's underlying principles. People need more than just technical support - they need to grasp why decentralization matters and how it empowers them.

2. Personal Innovativeness in IT: Individuals with higher technological curiosity and willingness to experiment with new technologies showed significantly greater adoption propensity. Early adopters aren't just tech-savvy; they're psychologically wired to embrace paradigm shifts.

3. Social Influence: Community and peer networks play a crucial role in adoption decisions. Unlike traditional technologies where social influence mainly drives awareness, in self-custody solutions, social networks serve as vital support systems for managing increased responsibility and complexity.

What This Means for the Future

These findings have profound implications for how we approach blockchain adoption:

For Individuals

Don't focus on whether self-custody is "easy" or "useful" - instead, invest time in understanding the fundamental principles of decentralization and building connections with knowledgeable communities. The technology's transformative potential becomes clear once you grasp its underlying philosophy.

For Educators and Organizations

Traditional approaches emphasizing convenience and utility miss the mark. Instead, focus on building comprehensive support systems and fostering deep technological understanding. Education should emphasize blockchain's empowering principles, not just operational mechanics.

For Policymakers

Regulations should support infrastructure development and community-driven learning rather than imposing traditional financial controls. Progressive jurisdictions like Switzerland and El Salvador demonstrate how supportive policy frameworks can accelerate adoption while protecting consumers.

For the Industry

Success in self-custody adoption depends more on building robust support infrastructure and fostering social networks than on emphasizing utility or ease of use. Companies should prioritize community building, comprehensive education, and graduated access systems that allow users to learn progressively.

The Bigger Picture

This research reveals something fundamental about how transformative technologies are adopted. When technologies don't just offer new features but challenge existing paradigms - like blockchain's challenge to traditional banking - adoption follows different rules.

The shift toward self-custody represents more than technological evolution; it's a fundamental movement toward democratizing finance. It addresses critical inefficiencies in traditional financial infrastructure while enabling a more inclusive financial future.

My research shows that this transition won't happen through traditional marketing approaches emphasizing convenience or performance. Instead, it requires building communities of understanding, creating comprehensive support systems, and recognizing that some people are naturally positioned to lead this transformation.

Why This Matters Now

Whether you're sending money to family abroad, protecting your savings from inflation, or simply wanting more control over your financial life, understanding self-custody wallets could be one of the most important financial decisions you make.

The data is clear: we're at the beginning of a financial revolution driven not by utility calculations but by deeper human needs for autonomy, understanding, and community. Those who grasp this distinction - and invest in building the necessary knowledge and connections - will be best positioned for the financial future that's rapidly approaching.

The future of money isn't just digital - it's self-sovereign. And this research to prove what that transformation really requires.\ \ Original research can be found here - "Do Users Understand and Want Self-Custody? Insights from an Extended UTAUT Perspective," Google Scholar**

@ a39d19ec:3d88f61e

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

Das Recht steht über Emotionen

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

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

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

Die Umkehrung des Rassismusbegriffs

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

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

Finanzielle Belastung statt ideologischer Debatte

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

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

Sozialpatriotismus

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

Rechtstaatlichkeit ist nicht verhandelbar

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

@ a39d19ec:3d88f61e

Nun da das deutsche Bundesregime den Ruin Deutschlands beschlossen hat, der sehr wahrscheinlich mit dem Werkzeug des Geld druckens "finanziert" wird, kamen mir so viele Gedanken zur Geldmengenausweitung, dass ich diese für einmal niedergeschrieben habe.

Die Ausweitung der Geldmenge führt aus klassischer wirtschaftlicher Sicht immer zu Preissteigerungen, weil mehr Geld im Umlauf auf eine begrenzte Menge an Gütern trifft. Dies lässt sich in mehreren Schritten analysieren:

1. Quantitätstheorie des Geldes

Die klassische Gleichung der Quantitätstheorie des Geldes lautet:

M • V = P • Y

wobei:
- M die Geldmenge ist,
- V die Umlaufgeschwindigkeit des Geldes,
- P das Preisniveau,
- Y die reale Wirtschaftsleistung (BIP).

Wenn M steigt und V sowie Y konstant bleiben, muss P steigen – also Inflation entstehen.

2. Gütermenge bleibt begrenzt

Die Menge an real produzierten Gütern und Dienstleistungen wächst meist nur langsam im Vergleich zur Ausweitung der Geldmenge. Wenn die Geldmenge schneller steigt als die Produktionsgütermenge, führt dies dazu, dass mehr Geld für die gleiche Menge an Waren zur Verfügung steht – die Preise steigen.

3. Erwartungseffekte und Spekulation

Wenn Unternehmen und Haushalte erwarten, dass mehr Geld im Umlauf ist, da eine zentrale Planung es so wollte, können sie steigende Preise antizipieren. Unternehmen erhöhen ihre Preise vorab, und Arbeitnehmer fordern höhere Löhne. Dies kann eine sich selbst verstärkende Spirale auslösen.

4. Internationale Perspektive

Eine erhöhte Geldmenge kann die Währung abwerten, wenn andere Länder ihre Geldpolitik stabil halten. Eine schwächere Währung macht Importe teurer, was wiederum Preissteigerungen antreibt.

5. Kritik an der reinen Geldmengen-Theorie

Der Vollständigkeit halber muss erwähnt werden, dass die meisten modernen Ökonomen im Staatsauftrag argumentieren, dass Inflation nicht nur von der Geldmenge abhängt, sondern auch von der Nachfrage nach Geld (z. B. in einer Wirtschaftskrise). Dennoch zeigt die historische Erfahrung, dass eine unkontrollierte Geldmengenausweitung langfristig immer zu Preissteigerungen führt, wie etwa in der Hyperinflation der Weimarer Republik oder in Simbabwe.

@ c1e9ab3a:9cb56b43

1. Introduction

The 21st century is marked by a rare confluence of demographic, technological, and monetary regime shifts. As birth rates fall below replacement levels across advanced and many emerging economies, global population growth slows and begins to reverse. At the same time, automation, AI, and robotics are increasing productivity at an accelerating pace. Simultaneously, trust in central banks and fiat currencies is waning, giving rise to calls for a return to hard currencies (e.g., gold, Bitcoin) and decentralized monetary systems.

These trends pose stark challenges to existing economic theories and institutions. This paper explores their implications through two opposing lenses: Keynesian economics and Austrian (Misesian) economics.

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2. The Keynesian Reaction: Deflation, Demand Collapse, and the Paradox of Thrift

2.1. Demand-Side Fragility in a Shrinking Population

Keynesian theory is rooted in the principle that aggregate demand drives output and employment. A declining population implies a falling consumption base, which directly reduces aggregate demand. Combined with increased longevity, this trend leads to a larger retired population disinclined to spend, creating persistent demand shortfalls.

2.2. Technological Unemployment and Reduced Income Velocity

Rapid productivity gains from AI and robotics may displace large segments of labor, leading to unemployment or underemployment. With fewer wage earners and heightened uncertainty, consumption slows further. Even if goods become cheaper, widespread income insecurity constrains the ability to buy them.

2.3. The Paradox of Thrift

In times of uncertainty, both individuals and businesses tend to save more. Keynes argued that if everyone saves, aggregate demand collapses because one person’s spending is another’s income. Thus, increased saving leads to lower incomes, which reduces saving in aggregate—a self-reinforcing contraction.

2.4. Retreat from Fiat and Central Banking: A Catastrophic Constraint

Abandoning fiat currency and central banking removes the government’s ability to perform countercyclical policy. Interest rates cannot be lowered below zero; money supply cannot be expanded to fill demand gaps. In such a regime, deflation becomes chronic, debt burdens rise in real terms, and recovery mechanisms are neutered.

Conclusion (Keynesian):
The combined effect of declining population, rising productivity, and a hard money transition is catastrophic. It leads to a deflationary spiral, mass unemployment, debt crises, and secular stagnation unless aggressively offset by expansive fiscal and monetary policy—tools unavailable in a hard currency system.

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3. The Misesian Rebuttal: Market Coordination and the Natural Order of Decline

3.1. Savings as Capital Formation

Mises and the Austrian School reject the paradox of thrift. Savings are not lost demand; they are deferred consumption that funds capital investment. Increased saving, in a free market, lowers interest rates and reallocates resources toward longer-term, higher-order production.

3.2. Deflation as a Signal of Progress

Falling prices due to productivity gains are not a crisis but a benefit. Consumers gain real wealth. Entrepreneurs adjust cost structures. As long as wages and prices are flexible, deflation reflects abundance, not failure.

3.3. Population Decline as Economic Recalibration

A shrinking population reduces demand, yes—but it also reduces the labor supply. Wages rise in real terms. Capital intensity per worker increases. There is no systemic unemployment if labor markets are free and responsive.

3.4. Hard Currency as Restoration of Market Coordination

Transitioning to a hard currency purges fiat-induced malinvestment and restores the price mechanism. With no artificial credit expansion, capital is allocated based on real savings. Booms and busts are mitigated, and long-term planning becomes reliable.

Conclusion (Misesian):
There is no crisis. A hard currency, high-productivity, low-population economy stabilizes at a new equilibrium of lower consumption, higher capital intensity, and rising real wealth. Deflation is natural. Savings are the seed of future prosperity. Government interference, not market adaptation, is the threat.

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4. Final Synthesis

The Keynesian and Misesian views diverge on first principles: Keynes sees demand shortfalls and rigidities requiring top-down correction, while Mises sees market-coordinated adaptation as sufficient and self-correcting. As the 21st century evolves, this ideological conflict will shape whether the transition leads to depression or renewal.

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References

• Keynes, J.M. The General Theory of Employment, Interest and Money
• Mises, L. Human Action
• Hayek, F.A. Prices and Production
• Böhm-Bawerk, E. Capital and Interest
• Friedman, M. A Program for Monetary Stability

@ f3873798:24b3f2f3

Muito se fala sobre racismo no Brasil. A mídia, os políticos e os intelectuais engajados repetem discursos antirracistas, promovem campanhas e ergueram bandeiras pela igualdade. No entanto, existe uma hipocrisia gritante quando olhamos para a realidade dos povos indígenas no país.

No Brasil, o indígena ainda é, juridicamente, tratado como incapaz de decidir por si mesmo, sendo suas terras consideradas propriedade da União. Isso significa, na prática, que tudo o que diz respeito à sua cultura, território e desenvolvimento precisa do “amém” do Estado. É um tipo de tutela que remete aos tempos coloniais, onde os “civilizados” decidiam o que era melhor para os “selvagens”.

O mais engraçado e trágico deste fato, é que não há nenhum movimento midiático que aborda sobre a existência absurda deste tipo de regimento jurídico, não há influenciar não há atores e atrizes da Globo, nem cantores que questione e lance a pauta

Como falar em fim da escravidão ou combate ao racismo estrutural, se ainda hoje tratamos povos inteiros como se fossem incapazes de autodeterminação?

Enquanto isso, o governo federal, representado atualmente por figuras como “Tio Lule”, negocia e entrega terras indígenas para interesses geopolíticos, sustentando ditaduras e alianças internacionais, enquanto os próprios povos originários ficam à margem do desenvolvimento econômico.

Recursos como açaí, cupuaçu, babaçu e muitos outros produtos amazônicos serão explorados por empresas estrangeiras, que lucrarão intensamente, sem que as comunidades locais tenham condições mínimas de acesso aos meios de produção ou ao mercado. Isso destrói a economia regional, perpetua a dependência e impede que o verdadeiro protagonismo indígena aconteça.

Um ciclo que se repete: a história da borracha

O que está em curso não é novidade. É uma repetição histórica. Basta lembrar do ciclo da borracha, quando os ingleses levaram sementes de seringueira da Amazônia para plantar na Ásia, quebrando o monopólio brasileiro e afundando a economia da região Norte, que até hoje carrega as marcas desse roubo histórico.

Agora, a história se repete, mas com outros nomes e produtos — e com o apoio explícito do Estado brasileiro.

@ 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

@ 8bad92c3:ca714aa5

Key Takeaways

In this landmark episode of TFTC, Adam Back and Sean Bill explore Bitcoin’s path to $1 million, focusing on its growing role as pristine collateral in a faltering financial system. Back highlights Blockstream’s infrastructure efforts, from mining operations to tokenized securities, designed to support this transformation, while Bill shares how he navigated institutional skepticism to bring Bitcoin exposure to a U.S. pension fund. Together, they unpack how institutions are entering the space through structured products and Bitcoin-backed credit, with Blockstream’s mining notes offering a glimpse of this new financial architecture. Amid rising debt, inflation, and fiat fragility, the duo presents Bitcoin not just as sound money, but as a strategic reserve asset gaining traction from El Salvador to Wall Street.

Best Quotes

"It's not a stretch to say that Bitcoin could reach parity with gold. That would imply something closer to a million dollars a coin."

"Digital gold vastly understates Bitcoin’s potential, but it’s where the conversation had to start."

"We’re not just building software, we’re solving financial market gaps, one at a time."

"You can wipe out an entire pension fund’s unfunded liability with a 2% allocation to Bitcoin, if it performs as we expect."

"ETF buyers are the new hodlers. They’re not day traders; they’re five-year pocket investors."

"Bitcoin is becoming super collateral, its role in structured credit could help engineer the soft landing everyone hopes for."

"In a world of financial repression, Bitcoin is how the have-nots finally access property rights and savings."

"Emerging markets will be the early adopters of Bitcoin finance because they need it the most."

"You worked for your money. To systematically steal it through hidden inflation is perverse."

"Bitcoin could be the story that saves public pensions, and the people relying on them."

Conclusion

This episode presents a bold vision of Bitcoin as more than sound money, it’s the foundation of a new global financial system. Adam Back and Sean Bill argue that Bitcoin’s role as “super collateral” is reshaping credit, pensions, and sovereign reserves, while a robust infrastructure of financial tools quietly prepares it to absorb institutional capital. As fiat trust erodes, Bitcoin’s adoption will be driven not by hype, but by necessity, and when the shift becomes undeniable, $1 million per coin will mark the start of a new financial era.

Timestamps

00:00:00 - Intro
00:00:38 - New ATH
00:02:06 - Sean's Journey Getting Bitcoin Into Pensions
00:03:15 - Blockstream's Evolution Into Finance
00:08:30 - Building Bitcoin Financial Infrastructure
00:14:30 - The Challenge of Conservative Pension Boards
00:17:02 - Bitkey
00:18:10 - Bitcoin's Current Price and Market Cycle
00:24:05 - Bitcoin as Super Collateral
00:27:24 - Unchained
00:30:09 - Cypherpunk Ideals vs Financial Reality
00:34:55 - Pension Fund Crisis and Bitcoin Solution
00:42:29 - The Cypherpunk Banking Stack
00:49:54 - Digital Cash and Free Banking
00:57:06 - Liquid Network and Institutional Rails
01:07:49 - Sean At CBOT
01:22:16 - Bitcoin Futures and Market Structure
01:25:53 - 2025 Bitcoin Price Predictions

Transcript

(00:00) I'm uh permeable, so I'm always astounded that it's not, you know, 10 or 100 times higher. If everybody saw it, the addressable mark, I mean, it would already be 100 200 trillion asset class, right? That's not a stretch to say that Bitcoin could reach parody with gold. That would imply something closer to a million dollars a coin.
(00:18) You see some established public market companies in different countries saying, "Oh, we're going to buy a billion of Bitcoin. We're going to raise and buy 500." Black Rockck ETF. They're even talking about recommended allocations to portfolio managers in the 2% range. Obviously, digital gold would vastly understate the potential of Bitcoin.
(00:38) Gentlemen, thank you for joining me. Of course. Thanks for having us on. Uh Adam, I was just saying I'm woefully embarrassed. This podcast is almost 8 years old and this is your first time on the show. Oh, okay. This is uh but it's an exciting time. Yeah. And you uh really dedicated to podcast. It's been a lot of years, a lot of episodes, right? It has been. Cool.
(00:59) I think we're approaching 700, which is crazy to think. Wow, that is impressive. The uh No, we're talking hit a new alltime high today. Yeah, Bitcoin doing Bitcoin things just as we were on stage uh at the talking hedge kind of asset manager conference uh trying to explain to them why they should put Bitcoin in their uh fund allocations.
(01:23) Yeah, we were discussing it before we hit record and I saw Tur's tweet looked like Tur was at the event, too. Yeah, he was. M so 50% held up they have Bitcoin in their personal account but only 2% or 4% of the funds very few that actually had allocated to Bitcoin. So a lot of them are believers at a personal level but they haven't been able to sell it within their institution you know so they own it themselves uh but they haven't quite gotten the boards to agree yet.
(01:53) So which was a similar situation I was in in 2019 when I first proposed it. You know, I had my experience with Bitcoin. I had a very good experience and was trying to convince uh the pensions in California that they should be looking at adding Bitcoin to the portfolio. Yeah. And it was great to hear some of your background last night, Sean.
(02:11) So, Sean, for those of you watching, uh is the CIO at Blockstream now. Yeah. I am really excited to have both of you here because I've got into Bitcoin in 2013 and nerded out uh on the tech side of Bitcoin distributed system mining full nodes the layered stack that's been built out and so I followed probably all the work that you guys have done at Blockstream since you've been around and it's been really cool to see everything you've done from the Blockstream satellite.
(02:42) I've broadcast some transactions through that before. It's a Jade um uh CLN or excuse me, Core Lightning now. Um the uh liquid and now over the last few years really sort of leaning into the financialization of finance as I like to um to reference it. And so Adam, like how's that transition from being hypert focused towards a more financial perspective on Bitcoin been? Well, actually in our 2014 uh kickoff meeting, you know, with the founders sitting around big whiteboard, we were trying to forward cast what we'd have to do to get
(03:28) a Bitcoin layer 2 for, you know, settlement of assets and Bitcoin working. And one of the risk you know so we thought we'll build the tech and other people issue the assets but like well they might be lazy they might not do it if that happens we'll have to do it ourselves. So there was a lot of situations like that actually where you know you would think there would be lots of people building applications but many people are really just more in business development and a technology is basically a website and a database and
(03:55) you know Bitcoin core wallet on a server or something like that right so we actually ended up building a lot of middleware and getting into asset management a couple earlier steps one was the mining note so we're doing hosting and mining in our own account and what we did when when it was public that we were hosting initially Fidelity was the uh launch customer.
(04:16) They kept coming back to us and saying, "No, we need we need some hosting." And you know, uh, they'd looked around and decided that we were the best. We were we were like, "No, no, we're prop mining. We don't do hosting." But they persuaded us to host them. And then we're like, "Okay, maybe we should expand and host for other people.
(04:31) " And then that became news. And so then a lot of Bitcoiners contacted us and says, you know, I've got like a dozen miners. Can you host them for me? And of course, if you're if you're hosting for thousands of customers, that's a whole you need need a support team. Somebody has got two miners and one of them's crashed or failed, they're very upset, right? It's half the revenue.
(04:52) Whereas somebody's got, you know, 10,000 per client, it's just part of the, you know, maintenance cycle like a big data center. Discs fail 1% a year, you replace them when they die, they raid, it doesn't matter, right? So, it's kind of that phenomena. So we try to figure out well how can we help you know how can we help people do this without creating a you know that painoint and so we designed this mining note concept where it's kind of socialized so that collectively they look like one of the enterprise customers and then we put a 10% buffer in it so that we would eat
(05:22) the first 10% of equipment failure so they wouldn't get you know the drooping hash rate as miners like failed due to age uh for the for the onset And we also figured out how to try and make them a unified market. So, you know, we're selling more tranches into the market. This started in 2021, a three-year product.
(05:45) And um you know, there was some people on the launch branch and then some people 3 months later. So, what we do is look at how many Bitcoin it had mined in the first three months. We buy that and then match it with a 33month contract for the next one. And so the economically equivalent neither dilutive or anti-dilutive for the buyer and therefore they could trade in a unified market even though there were eight sales tranches over the first I don't know like 12 months or something like that and that that market you know it was using initially using uh liquid
(06:17) security tokens uh with uh stalker a European company that does the securitization I mean the legal p

@ 7f6db517:a4931eda

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

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

— ODELL (@ODELL) October 27, 2022

The Basics

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

There is no 'Lightning Network'

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

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

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

Lightning in Practice

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

Sovereign Lightning

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

The Potential Fracture of Lightning

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

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

Summary

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

---

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

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

@ b1ddb4d7:471244e7

The latest AI chips, 8K displays, and neural processing units make your device feel like a pocket supercomputer. So surely, with all this advancement, you can finally mine bitcoin on your phone profitably, right?

The 2025 Hardware Reality: Can You Mine Bitcoin on Your Phone

Despite remarkable advances in smartphone technology, the fundamental physics of bitcoin mining haven’t changed. In 2025, flagship devices with their cutting-edge 2nm processors can achieve approximately 25-40 megahashes per second when you mine bitcoin on your phone—a notable improvement from previous generations, but still laughably inadequate.

Meanwhile, 2025’s top-tier ASIC miners have evolved dramatically. The latest Bitmain Antminer S23 series and Canaan AvalonMiner A15 Pro deliver 200-300 terahashes per second while consuming 4,000-5,500 watts. That’s a performance gap of roughly 1:8,000,000 between when you mine bitcoin on your phone and professional mining equipment.

To put this in perspective that hits home: if you mine bitcoin on your phone and it earned you one penny, professional miners would earn $80,000 in the same time period with the same effort. It’s not just an efficiency problem—it’s a complete category mismatch.

According to Pocket Option’s 2025 analysis, when you mine bitcoin on your phone in 2025, you generate approximately $0.003-0.006 in daily revenue while consuming $0.45-0.85 in electricity through constant charging cycles. Factor in the accelerated device wear (estimated at $0.75-1.20 daily depreciation), and you’re looking at losses of $1.20-2.00 per day just for the privilege of running mining software.

Mining Economic Factor

Precise Value (April 2025)

Direct Impact on Profitability

Smartphone sustained hash rate

20-35 MH/s

0.00000024% contribution to global hashrate

Daily power consumption

3.2-4.8 kWh (4-6 full charges)

$0.38-0.57 at average US electricity rates

Expected daily BTC earnings

0.0000000086 BTC ($0.0035 at $41,200 BTC)

Revenue covers only 0.9% of electricity costs

CPU/GPU wear cost

$0.68-0.92 daily accelerated depreciation

Reduces smartphone lifespan by 60-70%

Annual profit projection

-$386 to -$412 per year

Guaranteed negative return on investment

Source: PocketOption

Bitcoin’s 2025 Network: Harder Than Ever

Bitcoin’s network difficulty in 2025 has reached unprecedented levels. After the April 2024 halving event that reduced block rewards from 6.25 to 3.125 BTC, mining became significantly more competitive. The global hash rate now exceeds 800 exahashes per second—that’s 800 followed by 18 zeros worth of computational power securing the network.

Here’s what this means in practical terms: Bitcoin’s mining difficulty adjusts every 2,016 blocks (roughly every two weeks) to maintain the 10-minute block time. As more efficient miners join the network, difficulty increases proportionally. In 2025, mining difficulty has increased compared to 2024, making small-scale mining even less viable.

The math is unforgiving:

• Global Bitcoin hash rate: 828.96 EH/s
• Your smartphone’s contribution: ~0.000000003%
• Probability of solo mining a block: Virtually zero
• Expected time to mine one Bitcoin: Several million years

Even joining mining pools doesn’t solve the economic problem. Pool fees typically range from 1-3%, and your minuscule contribution would earn proportionally tiny rewards—far below the electricity and device depreciation costs.

The 2025 Scam Evolution: More Sophisticated, More Dangerous

Fraudsters now leverage AI-generated content, fake influencer endorsements, and impressive-looking apps that simulate realistic mining activity to entice you to mine bitcoin on your phone.

New 2025 scam tactics include:

AI-Powered Fake Testimonials: Deepfake videos of supposed successful mobile miners showing fabricated earnings statements and encouraging downloads of malicious apps.

Gamified Mining Interfaces: Apps that look and feel like legitimate games but secretly harvest personal data while simulating mining progress that can never be withdrawn.

Social Media Manipulation: Coordinated campaigns across TikTok, Instagram, and YouTube featuring fake “financial influencers” promoting mobile mining apps to younger audiences.

Subscription Trap Mining: Apps offering “free trials” that automatically charge $19.99-49.99 monthly for “premium mining speeds” while delivering no actual mining capability.

Recent cybersecurity research shows that over 180 fake mining apps were discovered across major app stores in 2025, with some accumulating more than 500,000 downloads before being removed.

Red flags that scream “scam” in 2025:

• Apps claiming “revolutionary mobile mining breakthrough”
• Promises of earning “$10-50 daily” from phone mining
• Requirements to recruit friends or watch ads to unlock withdrawals
• Apps that don’t require connecting to actual mining pools
• Testimonials that seem too polished or use stock photo models
• Apps requesting permissions unrelated to mining (contacts, camera, microphone)

The 2025 Professional Mining Landscape

To understand why, consider what professional bitcoin mining looks like in 2025. Industrial mining operations now resemble high-tech data centers with:

Cutting-edge hardware:

• Bitmain Antminer S23 Pro: 280 TH/s at 4,800W
• MicroBT WhatsMiner M56S++: 250 TH/s at 4,500W
• Canaan AvalonMiner A1566: 185 TH/s at 3,420W

Infrastructure requirements:

• Megawatt-scale power contracts with industrial electricity rates
• Liquid cooling systems maintaining 24/7 optimal temperatures
• Redundant internet connections ensuring zero downtime
• Professional facility management with 24/7 monitoring

For a small operation, you might need at least $10,000 to $20,000 to buy a few ASIC miners, set up cooling systems, and cover electricity costs. These operations employ teams of engineers, maintain relationships with power companies, and operate with margins measured in single-digit percentages.

2025’s Legitimate Mobile Bitcoin Strategies

While it remains impossible to mine bitcoin on your phone profitably, 2025 offers exciting legitimate ways to engage with bitcoin through your smartphone:

Lightning Network Participation: Apps like Phoenix, Breez, and Zeus allow you to run Lightning nodes on mobile devices, earning small routing fees while supporting bitcoin’s payment layer.

Bitcoin DCA Automation: Services enable automated dollar-cost averaging with amounts as small as $1 daily. Historical data shows $10 weekly bitcoin purchases consistently outperform any mobile mining attempt by 1,500-2,000%.

Educational Mining Simulators: Legitimate apps like “Bitcoin Mining Simulator” teach mining concepts without false earning promises. These educational tools help users understand hash rates, difficulty adjustments, and mining economics.

Stacking Sats Rewards: Apps offering bitcoin rewards for shopping, learning, or completing tasks.

Lightning Gaming: Bitcoin-native mobile games where players can earn sats through skilled gameplay, with some players earning $10 monthly.onfirm that even the most optimized mobile mining setups in 2025 lose money consistently and predictably.

The Bottom Line

When you mine bitcoin on your phone fundamental economics remain unchanged: it’s impossible to profit. The laws of physics, network competition, and energy efficiency create insurmountable barriers that no app can overcome.

However, 2025 offers unprecedented opportunities to engage with bitcoin meaningfully through your smartphone. Focus on education, legitimate earning opportunities, and strategic investment rather than chasing the impossible dream of phone-based mining.

The bitcoin community’s greatest strength lies in its commitment to truth over hype. When someone promises profits to mine bitcoin on your phone in 2025, they’re either uninformed or deliberately misleading you. Trust the mathematics, learn from the community, and build your bitcoin knowledge and holdings through proven methods.

The real opportunity in 2025 isn’t to mine bitcoin on your phone—it’s understanding bitcoin deeply enough to participate confidently in the most important monetary revolution of our lifetime. Your smartphone is the perfect tool for that education; it’s just not a mining rig.

@ 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

@ 39cc53c9:27168656

Read the original blog post

Know Your Customer is a regulation that requires companies of all sizes to verify the identity, suitability, and risks involved with maintaining a business relationship with a customer. Such procedures fit within the broader scope of anti-money laundering (AML) and counterterrorism financing (CTF) regulations.

Banks, exchanges, online business, mail providers, domain registrars... Everyone wants to know who you are before you can even opt for their service. Your personal information is flowing around the internet in the hands of "god-knows-who" and secured by "trust-me-bro military-grade encryption". Once your account is linked to your personal (and verified) identity, tracking you is just as easy as keeping logs on all these platforms.

Rights for Illusions

KYC processes aim to combat terrorist financing, money laundering, and other illicit activities. On the surface, KYC seems like a commendable initiative. I mean, who wouldn't want to halt terrorists and criminals in their tracks?

The logic behind KYC is: "If we mandate every financial service provider to identify their users, it becomes easier to pinpoint and apprehend the malicious actors."

However, terrorists and criminals are not precisely lining up to be identified. They're crafty. They may adopt false identities or find alternative strategies to continue their operations. Far from being outwitted, many times they're several steps ahead of regulations. Realistically, KYC might deter a small fraction – let's say about 1% ^1 – of these malefactors. Yet, the cost? All of us are saddled with the inconvenient process of identification just to use a service.

Under the rhetoric of "ensuring our safety", governments and institutions enact regulations that seem more out of a dystopian novel, gradually taking away our right to privacy.

To illustrate, consider a city where the mayor has rolled out facial recognition cameras in every nook and cranny. A band of criminals, intent on robbing a local store, rolls in with a stolen car, their faces obscured by masks and their bodies cloaked in all-black clothes. Once they've committed the crime and exited the city's boundaries, they switch vehicles and clothes out of the cameras' watchful eyes. The high-tech surveillance? It didn’t manage to identify or trace them. Yet, for every law-abiding citizen who merely wants to drive through the city or do some shopping, their movements and identities are constantly logged. The irony? This invasive tracking impacts all of us, just to catch the 1% ^1 of less-than-careful criminals.

KYC? Not you.

KYC creates barriers to participation in normal economic activity, to supposedly stop criminals. ^2

KYC puts barriers between many users and businesses. One of these comes from the fact that the process often requires multiple forms of identification, proof of address, and sometimes even financial records. For individuals in areas with poor record-keeping, non-recognized legal documents, or those who are unbanked, homeless or transient, obtaining these documents can be challenging, if not impossible.

For people who are not skilled with technology or just don't have access to it, there's also a barrier since KYC procedures are mostly online, leaving them inadvertently excluded.

Another barrier goes for the casual or one-time user, where they might not see the value in undergoing a rigorous KYC process, and these requirements can deter them from using the service altogether.

It also wipes some businesses out of the equation, since for smaller businesses, the costs associated with complying with KYC norms—from the actual process of gathering and submitting documents to potential delays in operations—can be prohibitive in economical and/or technical terms.

You're not welcome

Imagine a swanky new club in town with a strict "members only" sign. You hear the music, you see the lights, and you want in. You step up, ready to join, but suddenly there's a long list of criteria you must meet. After some time, you are finally checking all the boxes. But then the club rejects your membership with no clear reason why. You just weren't accepted. Frustrating, right?

This club scenario isn't too different from the fact that KYC is being used by many businesses as a convenient gatekeeping tool. A perfect excuse based on a "legal" procedure they are obliged to.

Even some exchanges may randomly use this to freeze and block funds from users, claiming these were "flagged" by a cryptic system that inspects the transactions. You are left hostage to their arbitrary decision to let you successfully pass the KYC procedure. If you choose to sidestep their invasive process, they might just hold onto your funds indefinitely.

Your identity has been stolen

KYC data has been found to be for sale on many dark net markets^3. Exchanges may have leaks or hacks, and such leaks contain very sensitive data. We're talking about the full monty: passport or ID scans, proof of address, and even those awkward selfies where you're holding up your ID next to your face. All this data is being left to the mercy of the (mostly) "trust-me-bro" security systems of such companies. Quite scary, isn't it?

As cheap as $10 for 100 documents, with discounts applying for those who buy in bulk, the personal identities of innocent users who passed KYC procedures are for sale. ^3

In short, if you have ever passed the KYC/AML process of a crypto exchange, your privacy is at risk of being compromised, or it might even have already been compromised.

(they) Know Your Coins

You may already know that Bitcoin and most cryptocurrencies have a transparent public blockchain, meaning that all data is shown unencrypted for everyone to see and recorded forever. If you link an address you own to your identity through KYC, for example, by sending an amount from a KYC exchange to it, your Bitcoin is no longer pseudonymous and can then be traced.

If, for instance, you send Bitcoin from such an identified address to another KYC'ed address (say, from a friend), everyone having access to that address-identity link information (exchanges, governments, hackers, etc.) will be able to associate that transaction and know who you are transacting with.

Conclusions

To sum up, KYC does not protect individuals; rather, it's a threat to our privacy, freedom, security and integrity. Sensible information flowing through the internet is thrown into chaos by dubious security measures. It puts borders between many potential customers and businesses, and it helps governments and companies track innocent users. That's the chaos KYC has stirred.

The criminals are using stolen identities from companies that gathered them thanks to these very same regulations that were supposed to combat them. Criminals always know how to circumvent such regulations. In the end, normal people are the most affected by these policies.

The threat that KYC poses to individuals in terms of privacy, security and freedom is not to be neglected. And if we don’t start challenging these systems and questioning their efficacy, we are just one step closer to the dystopian future that is now foreseeable.

Edited 20/03/2024 * Add reference to the 1% statement on Rights for Illusions section to an article where Chainalysis found that only 0.34% of the transaction volume with cryptocurrencies in 2023 was attributable to criminal activity ^1

@ 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

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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.

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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...

East Coast aesthetics over everything.

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*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:

@ 8d34bd24:414be32b

How do you look at the things in your life?

• Do you focus on your physical problems or do you look forward to your resurrection body in heaven?

• Do you spend your time trying to fix the corruption in government or do you spend your time trying to bring as many people as possible home to heaven?

• When you see someone suffering do you first pray for their physical healing or do you pray for their spiritual healing?

• Do you work to fit in with the people around you or do you work to become more Christ-like?

• Do you crave entertainment or do you crave biblical enrichment?

• Do you focus more on your citizenship here on earth or more on your eternal citizenship?

• Do you seek fellowship with the people of this world or do you seek fellowship with your Savior?

• Do you look at people’s faults and how they hurt you or do you look at their hurt and separation from God and seek to bring them to Jesus?

• Do you spend your time on work and entertainment or do you spend your time studying the word of God, praying to God, and telling others about God?

Do you have an earthly or an eternal perspective?

Physical or Spiritual Needs

Jesus always had an eternal perspective. This event is just one example.

One day He was teaching; and there were some Pharisees and teachers of the law sitting there, who had come from every village of Galilee and Judea and from Jerusalem; and the power of the Lord was present for Him to perform healing. And some men were carrying on a bed a man who was paralyzed; and they were trying to bring him in and to set him down in front of Him. But not finding any way to bring him in because of the crowd, they went up on the roof and let him down through the tiles with his stretcher, into the middle of the crowd, in front of Jesus. Seeing their faith, He said, “Friend, your sins are forgiven you.” The scribes and the Pharisees began to reason, saying, “Who is this man who speaks blasphemies? Who can forgive sins, but God alone?” But Jesus, aware of their reasonings, answered and said to them, “Why are you reasoning in your hearts? Which is easier, to say, ‘Your sins have been forgiven you,’ or to say, ‘Get up and walk’? But, so that you may know that the Son of Man has authority on earth to forgive sins,”—He said to the paralytic—“I say to you, get up, and pick up your stretcher and go home.” (Luke 5:17-24) {emphasis mine}

In this familiar story a man who was paralyzed was brought to Jesus for healing. The paralytic’s friends worked so hard to get him physically healed that they hauled him up on the roof, dug through the roof, and lowered him down in front of Jesus. What was Jesus’s response? Jesus forgave the man’s sins. Every person there saw the man’s need to be able to walk, so he could take care of himself here on earth. Jesus saw the more important spiritual need and forgave his sins. After taking care of his eternal need, he also took care of his more earthly need and healed him physically.

Do you see people’s eternal need or do you just see their physical needs or worse, only see their earthly failings? Do you only see the hurt they are causing you or do you see the hurt they feel that comes from being separated from God?

Earthly or Heavenly Citizenship

I’ve been involved in politics for many years. I’ve been to precinct, county, state, and national conventions. I’ve written, debated, and defended political platforms and resolutions. I vote every election. All of that is good and useful, but is that where we are supposed to spend most of our time and effort? I’ve come to the conclusion that this is not what is most important.

For our citizenship is in heaven, from which also we eagerly wait for a Savior, the Lord Jesus Christ; who will transform the body of our humble state into conformity with the body of His glory, by the exertion of the power that He has even to subject all things to Himself. (Philippians 3:20-21)

We are told that our citizenship is in heaven. The majority of our effort should be put into support of our heavenly citizenship, not our earthly citizenship. That doesn’t mean that we should let our earthly kingdom fall apart and turn away from God, but it does mean we should be more focused on turning hearts and minds to Jesus than we are with setting domestic laws. We should be more focused on worshipping God than supporting politicians.

Sadly I see too many Christians who focus on pushing the “Pledge of Allegiance to the Flag” than they do pushing loyalty to Jesus. I see too many Christians who put all of their effort into electing the “right” politician instead of pointing people to the real Savior. I see too many Christians who try to pass the “right” laws instead of reading the law of God. I see too many Christians who put all of their effort into changing people’s minds to the “right” party instead of changing hearts and minds for Christ.

Do you really seek the kingdom of God or are you only focused on your earthly nation? Do you spend more time trying to win people for your political party than you do trying to win people for Christ? Our primary focus should be on the Millennial Kingdom of Christ and on eternity in heaven with Jesus, not on our earthly country.

Yes, we are to be a light in the world and we should seek the good of our earthly nations, but sharing the gospel, living a life honoring to God, and doing everything within our power to draw people to Jesus should be our focus and where we put most of our effort.

And He came and preached peace to you who were far away, and peace to those who were near; for through Him we both have our access in one Spirit to the Father. So then you are no longer strangers and aliens, but you are fellow citizens with the saints, and are of God’s household, having been built on the foundation of the apostles and prophets, Christ Jesus Himself being the corner stone, in whom the whole building, being fitted together, is growing into a holy temple in the Lord, in whom you also are being built together into a dwelling of God in the Spirit. (Ephesians 2:17-22)

The Hurt They Cause or the Hurt They Feel

People today are selfish and hurtful. Most people are trying to be the greatest victim which means they are accusing others of being abusers, tyrants, or haters. People are impolite, inconsiderate, and sometimes downright hateful. How do you respond?

Do you attack back when you are attacked? Are you rude back when you are treated rudely? Do you only see how others hurt you or can you see the hurt behind the hurtful behavior?

Most of the people who are striking out with hate and anger are truly hurting people. They have been taught that they are evolved pond scum and feel hopeless. They have been mistreated by other hurting people. They have been taught to be victims and to hate anyone who may not be a victim. Instead of feeling hate, we should feel compassion.

In Matthew 18:21-35 Jesus tells a parable of a master who forgives his slave of his debts, but then that slave does not show the same mercy to another who owes him much less. The slave is rebuked.

Then summoning him, his lord said to him, ‘You wicked slave, I forgave you all that debt because you pleaded with me. Should you not also have had mercy on your fellow slave, in the same way that I had mercy on you?’ (Matthew 18:32-33)

God loved us before we loved Him. Jesus forgave us far more than we can ever forgive others. After all Jesus did for us, we should be forgiving like He is. We should see other’s hurt and eternal destination and have compassion on them. Instead of treating them the way we were treated, we should treat them like Jesus treated us. We should seek their eternal good above our momentary comfort.

And He said to them, “Come away by yourselves to a secluded place and rest a while.” (For there were many people coming and going, and they did not even have time to eat.) They went away in the boat to a secluded place by themselves.

The people saw them going, and many recognized them and ran there together on foot from all the cities, and got there ahead of them. When Jesus went ashore, He saw a large crowd, and He felt compassion for them because they were like sheep without a shepherd; and He began to teach them many things. (Mark 6:31-34) {emphasis mine}

Just as Jesus had compassion for the crowd and their spiritual needs when He and His disciples had need of food and rest, in the same way we should sacrifice our egos to minister to the spiritual needs of those that may seem unlovable because of their eternal need.

May the Lord of Heaven help us to have an eternal perspective and to view everything and everyone with that eternal and spiritual perspective so we can faithfully serve Jesus and bring with us a plentiful harvest. May Jesus use us for His glory and for the eternal good of those around us.

@ 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

@ 7f6db517:a4931eda

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

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

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

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

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

Full Text of Bill

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

@ 7f6db517:a4931eda

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

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

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

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

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

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

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

@ a3c6f928:d45494fb

We live in a world that worships productivity and glorifies the grind. Rest is often seen as weakness, laziness, or a luxury you must earn. But true freedom includes the right to pause—to exhale, to be still, to exist without proving. Choosing rest isn’t stepping back—it’s stepping into wholeness.

The Lie of Endless Motion

We’re taught that to be worthy, we must be busy. We keep moving, not because we’re always inspired—but because we’re afraid of what stillness might reveal. But you are not a machine. You are a soul. And your value is not tied to output.

Why Rest Takes Courage

It means trusting that you’re enough—even when you’re doing nothing

It challenges the belief that busyness equals importance

It requires facing emotions we often outrun

It invites us to slow down in a world that keeps speeding up

Signs You Need Rest

Constant fatigue or irritability

Feeling disconnected from joy or purpose

Difficulty making decisions or being present

Losing the ability to celebrate wins

Reclaiming Your Right to Pause

1. Redefine Rest: Rest isn’t failure. It’s fuel.

2. Listen to Your Body: If it’s whispering, don’t wait for it to scream.

3. Release Guilt: Rest is not a reward. It’s a requirement.

4. Schedule Silence: Make time for nothing. Guard it like gold.

5. Celebrate Stillness: Let rest be sacred—not secret.

Why This Freedom Matters

Rest gives you back to yourself. It reconnects you to your wisdom, creativity, and humanity. In stillness, the truth becomes clear. In quiet, the next step finds you.

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“You don’t need to earn your right to breathe. You already belong here.”

Choose rest. Claim space. That, too, is liberation.

@ 3c389c8f:7a2eff7f

Nostr's first algorithmic relay feed, was introduced by prolific Nostr user, builder, and supporter, utxo the webmaster and the Bitvora team. This idea takes control of your algorithms away from 3rd parties and puts it directly in the user's hands. The system was designed to give readers the ability to choose who and what they want to see in their Nostr feed, and at what frequency, while also encouraging discovery of new and interesting content. The design keeps in mind that users may not want to see posts that are inflammatory or contentious like ad-driven algorithms assume, but ones that simply generate interesting conversations. On top of that, it is also clearly designed to incentivize users to spend time offline and still keeping up with things that are important to them online.

After playing with the various settings, I have been pleasantly surprised with how well it works. To set up your individualized algo relay feed, you simply visit the landing page and sign in with your signer of choice. You will first be presented with some information about your network and the authors you interact with the most. This is a neat little bonus to me. I can clearly see the profiles that provide me with value, whether it be through learning, friendship, or professional (whatever that means). It gives me a good feeling to see who has been worthy of my attention, and I imagine if I were one to engage in defensive online discussions, the presentation of these authors might make me take a second look at my own behavior. Maybe the idea of anyone else doing that is a pipedream, but I like the thought. Just beyond the network information are some insightful statistics about the ways you engage online, like how often you post and reply.

Towards the bottom of the page are your actual settings:

As you can see, there are a variety of settings that all will impact the way that your personalized feed is built. Simply make some adjustments that feel right for you and click save. Your personalized algorithm feed will be available to you in any client that enables relay browsing, like Jumble and Coracle. It is worth trying out a couple of different formulas, as they are quite effective. Once you find a balance that feels right, you can just save the relay as a favorite for easy access, and basically forget about it. They relay will keep your settings to build your personalized Nostr feed whenever you connect. If at any time you need a change, just revisit the page and make your adjustments. The software is open source, making it possible to host your own for yourself and your friends.

I have found a lot of interesting content and people through the Nostr AlgoRelay. My first few settings adjustments didn't quite suit what I was looking for, but a few tweaks brought forth notes from some of my favorite people that I had missed but not stuff that was really outdated, a few notes from popular figureheads, and some things that my friends were engaging with that I did not know about prior. I highly recommend giving it a try, beyond a quick glance. The true value of this relay grows in time, as you go about life and come back to visit your Nostr world.

@ dd664d5e:5633d319

The importance of being lindy

I've been thinking about what Vitor said about #Amethyst living on extended time. And thinking. And doing a bit more thinking...

It's a valid point. Why does Amethyst (or, analog, #Damus) still exist? Why is it as popular as it is? Shouldn't they be quickly washed-away by power-funded corporate offerings or highly-polished, blackbox-coded apps?

Because a lot of people trust them to read the code, that's why. The same way that they trust Michael to read it and they trust me to test it. And, perhaps more importantly, they trust us to not deliver corrupted code. Intentionally, or inadvertently.

The developer's main job will not be coding the commit, it will be reviewing and approving the PR.

As AI -- which all developers now use, to some extent, if they are planning on remaining in the business -- becomes more efficient and effective at writing the code, the effort shifts to evaluating and curating what it writes. That makes software code a commodity, and commodities are rated according to brand.

Most of us don't want to make our own shampoo, for instance. Rather, we go to the store and select the brand that we're used to. We have learned, over the years, that this brand won't kill us and does the job we expect it to do. Offloading the decision of Which shampoo? to a brand is worth some of our time and money, which is why strong, reliable brands can charge a premium and are difficult to dislodge.

Even people, like myself, who can read the code from many common programming languages, do not have the time, energy, or interest to read through thousands of lines of Kotlin, Golang, or Typescript or -- God forbid -- C++, from repos we are not actively working on. And asking AI to analyze the code for you leaves you trusting the AI to have a conscience and be virtuous, and may you have fun with that.

The software is no longer the brand. The feature set alone isn't enough. And the manner in which it is written, or the tools it was written with, are largely irrelevant. The thing that matters most is Who approved this version?

The Era of Software Judges has arrived

And that has always been the thing that mattered most, really.

That's why software inertia is a real thing and that's why it's going to still be worth it to train up junior devs. Those devs will be trained up to be moral actors, specializing in reviewing and testing code and confirming its adherance to the project's ethical standards. Because those standards aren't universal; they're nuanced and edge cases will need to be carefully weighed and judged and evaluated and analysed. It will not be enough to add Don't be evil. to the command prompt and call it a day.

So, we shall need judges and advocates, and we must train them up, in the way they shall go.

@ a39d19ec:3d88f61e

A state-controlled money supply can influence the development of socialist policies and practices in various ways. Although the relationship is not deterministic, state control over the money supply can contribute to a larger role of the state in the economy and facilitate the implementation of socialist ideals.

Fiscal Policy Capabilities

When the state manages the money supply, it gains the ability to implement fiscal policies that can lead to an expansion of social programs and welfare initiatives. Funding these programs by creating money can enhance the state's influence over the economy and move it closer to a socialist model. The Soviet Union, for instance, had a centralized banking system that enabled the state to fund massive industrialization and social programs, significantly expanding the state's role in the economy.

Wealth Redistribution

Controlling the money supply can also allow the state to influence economic inequality through monetary policies, effectively redistributing wealth and reducing income disparities. By implementing low-interest loans or providing financial assistance to disadvantaged groups, the state can narrow the wealth gap and promote social equality, as seen in many European welfare states.

Central Planning

A state-controlled money supply can contribute to increased central planning, as the state gains more influence over the economy. Central banks, which are state-owned or heavily influenced by the state, play a crucial role in managing the money supply and facilitating central planning. This aligns with socialist principles that advocate for a planned economy where resources are allocated according to social needs rather than market forces.

Incentives for Staff

Staff members working in state institutions responsible for managing the money supply have various incentives to keep the system going. These incentives include job security, professional expertise and reputation, political alignment, regulatory capture, institutional inertia, and legal and administrative barriers. While these factors can differ among individuals, they can collectively contribute to the persistence of a state-controlled money supply system.

In conclusion, a state-controlled money supply can facilitate the development of socialist policies and practices by enabling fiscal policies, wealth redistribution, and central planning. The staff responsible for managing the money supply have diverse incentives to maintain the system, further ensuring its continuation. However, it is essential to note that many factors influence the trajectory of an economic system, and the relationship between state control over the money supply and socialism is not inevitable.

@ a39d19ec:3d88f61e

This week's functional 3d print is the "Dino Clip".

Dino Clip

I printed it some years ago for my son, so he would have his own clip for cereal bags.

Now it is used to hold a bag of dog food close.

The design by "Sneaks" is a so called "print in place". This means that the whole clip with moving parts is printed in one part, without the need for assembly after the print. The clip is very strong, and I would print it again if I need a "heavy duty" clip for more rigid or big bags. Link to the file at Printables

@ 39cc53c9:27168656

Read the original blog post

The new website is finally live! I put in a lot of hard work over the past months on it. I'm proud to say that it's out now and it looks pretty cool, at least to me!

Why rewrite it all?

The old kycnot.me site was built using Python with Flask about two years ago. Since then, I've gained a lot more experience with Golang and coding in general. Trying to update that old codebase, which had a lot of design flaws, would have been a bad idea. It would have been like building on an unstable foundation.

That's why I made the decision to rewrite the entire application. Initially, I chose to use SvelteKit with JavaScript. I did manage to create a stable site that looked similar to the new one, but it required Jav aScript to work. As I kept coding, I started feeling like I was repeating "the Python mistake". I was writing the app in a language I wasn't very familiar with (just like when I was learning Python at that mom ent), and I wasn't happy with the code. It felt like spaghetti code all the time.

So, I made a complete U-turn and started over, this time using Golang. While I'm not as proficient in Golang as I am in Python now, I find it to be a very enjoyable language to code with. Most aof my recent pr ojects have been written in Golang, and I'm getting the hang of it. I tried to make the best decisions I could and structure the code as well as possible. Of course, there's still room for improvement, which I'll address in future updates.

Now I have a more maintainable website that can scale much better. It uses a real database instead of a JSON file like the old site, and I can add many more features. Since I chose to go with Golang, I mad e the "tradeoff" of not using JavaScript at all, so all the rendering load falls on the server. But I believe it's a tradeoff that's worth it.

What's new

• UI/UX - I've designed a new logo and color palette for kycnot.me. I think it looks pretty cool and cypherpunk. I am not a graphic designer, but I think I did a decent work and I put a lot of thinking on it to make it pleasant!
• Point system - The new point system provides more detailed information about the listings, and can be expanded to cover additional features across all services. Anyone can request a new point!
• ToS Scrapper: I've implemented a powerful automated terms-of-service scrapper that collects all the ToS pages from the listings. It saves you from the hassle of reading the ToS by listing the lines that are suspiciously related to KYC/AML practices. This is still in development and it will improve for sure, but it works pretty fine right now!
• Search bar - The new search bar allows you to easily filter services. It performs a full-text search on the Title, Description, Category, and Tags of all the services. Looking for VPN services? Just search for "vpn"!
• Transparency - To be more transparent, all discussions about services now take place publicly on GitLab. I won't be answering any e-mails (an auto-reply will prompt to write to the corresponding Gitlab issue). This ensures that all service-related matters are publicly accessible and recorded. Additionally, there's a real-time audits page that displays database changes.
• Listing Requests - I have upgraded the request system. The new form allows you to directly request services or points without any extra steps. In the future, I plan to enable requests for specific changes to parts of the website.
• Lightweight and fast - The new site is lighter and faster than its predecessor!
• Tor and I2P - At last! kycnot.me is now officially on Tor and I2P!

How?

This rewrite has been a labor of love, in the end, I've been working on this for more than 3 months now. I don't have a team, so I work by myself on my free time, but I find great joy in helping people on their private journey with cryptocurrencies. Making it easier for individuals to use cryptocurrencies without KYC is a goal I am proud of!

If you appreciate my work, you can support me through the methods listed here. Alternatively, feel free to send me an email with a kind message!

Technical details

All the code is written in Golang, the website makes use of the chi router for the routing part. I also make use of BigCache for caching database requests. There is 0 JavaScript, so all the rendering load falls on the server, this means it needed to be efficient enough to not drawn with a few users since the old site was reporting about 2M requests per month on average (note that this are not unique users).

The database is running with mariadb, using gorm as the ORM. This is more than enough for this project. I started working with an sqlite database, but I ended up migrating to mariadb since it works better with JSON.

The scraper is using chromedp combined with a series of keywords, regex and other logic. It runs every 24h and scraps all the services. You can find the scraper code here.

The frontend is written using Golang Templates for the HTML, and TailwindCSS plus DaisyUI for the CSS classes framework. I also use some plain CSS, but it's minimal.

The requests forms is the only part of the project that requires JavaScript to be enabled. It is needed for parsing some from fields that are a bit complex and for the "captcha", which is a simple Proof of Work that runs on your browser, destinated to avoid spam. For this, I use mCaptcha.

@ 41959693:3888319c

Überblick über die Anthologie

Die Anthologie „365 Tage Frieden“, herausgegeben von Rüdiger Heins und Michael Landgraf, erschien 2025 im Verlag EDITION MAYA. In diesem Werk haben über 100 Autoren ihre Gedanken zum Frieden geäußert und zeigen dabei thematisch wie stilistisch, welche Vielfalt und Komplexität unter diesem Begriff vereint werden kann.

Diese Buchbesprechung geht nicht auf einzelne Beiträge ein, sondern betrachtet die Zusammenstellung und Gesamtwirkung der Texte. Jedem Tag des Jahres wurde ein Text zugeordnet, wobei es keine feste Abgrenzung oder Reihenfolge von Lyrik und Prosa gibt. Das Aufschlagen einer neuen Seite bzw. eines neuen Tages ist stets eine Überraschung, ein Wunder, ähnlich dem Frieden wie einige Autoren meinen.

Die Stimmen der Autoren erreichen den Leser dabei nicht nur aus dem deutschsprachigen Raum, sondern international und als Querschnitt aus unterschiedlicher Perspektiven, Lebensweisen, Erfahrungen, Ängsten und Hoffnungen. Dies beginnt bereits bei der Definition des „Friedens“. Ist es das Schweigen der Waffen; die erbauliche Koexistenz? Ist es die Stille, die in der Andacht der Natur gefunden wird? Ist es innere Gelassenheit? Die thematische Inhomogenität der Texte kann keine klare Antwort finden – doch in dieser Offenheit liegt auch der Reiz, die vermeintlich kleine Gedankenwelt des in der Moderne gehetzt-gestressten Normalbürgers ebenso zu akzeptieren wie die innere Ruhe eines System-Aussteigers, der im Glauben steht, sich den großen Fragen des Universums zu widmen.

Doch zurück fällt das Gros der Texte unabhängig davon immer wieder auf die formelhafte Beschwörung von Harmonie, Liebe und Freiheit und der Wunsch nach Verständnis, Verständigung und einer sicheren Zukunft. Dieser ständige Rückgriff wirkt nicht ermüdend oder altbacken, nicht mit der Gewissheit im Hinterkopf, wie kostbar und leicht zerbrechlich der Frieden ist. Im Vorwort des Buches berichtet Michael Landgraf beispielsweise in einem kurzen historischen Abriss vom aufgezwungenen römischen Frieden über den dreißigjährigen Krieg bis zu den völkerrechtswidrigen Kriegen der Gegenwart. Im Nachwort erinnert Uli Rothfuss daran, welche Aufgabe gerade Autoren in solchen Zeiten zufällt und verstärkt die Erkenntnis, dass Frieden eine Leistung ist, an der alle mitwirken können.

Stil und Wirkung

Die Anthologie stützt sich auf das Abwechslungsreichtum der Beiträge: Hier überwiegen vor allem die lyrischen Werke und Prosagedichte. Es gibt auch vereinzelte Prosatexte, welche aber i. d. R. in ihrer Länge drei Seiten nicht überschreiten. Sprache wie Gattung sind vielfältig: nüchterner Essay, phonetische Sprachspiele, Aphorismen und Akrosticha, von ernst bis augenzwinkernd. Die Gedichte sind überwiegend reimlos und ohne Metrik, selten lösen sie sich ganz vom Schema klassischer Typografie und spielen so mit dem Betrachter. Immer wieder finden sich direkte und indirekte Zitate, die religiösen und philosophischen Schriften entstammen oder Persönlichkeiten zuzuordnen sind, welche sich als Aufklärer, Humanisten und Menschenrechtler einen Namen gemacht haben.

Thematisch sprechen die Autoren sich nicht nur für den Frieden aus, sondern illustrieren zum Teil auch verbal brutal die Schrecken des Krieges, zeigen die Zerstörung, den Schmerz, die Fremde und Einsamkeit. Wir erfahren von Hass, gezüchtet und blühend in den Rabatten. In einem Beitrag heißt es: „Da sah ich das Spiel der Liebe Arm in Arm mit den Drogen zum Dinner flanieren.“

Die Poesie soll uns mahnend im Gedächtnis bleiben und all die Bandbreite fassen; die Sicherheit des Friedens ebenso wie die Verzweiflung über die Sinnlosigkeit des Tötens. Diese Unnatürlichkeit, die uns als fühlende Wesen eigentlich fassungslos hinterlassen sollte, machen die Autoren durch ihre Sprache sichtbar: „Ich habe über den Frieden schreiben wollen, und dann verbrannte ich mich an Grablichtern.“

Fazit: Wie diese Anthologie helfen kann

„365 Tage Frieden“ ist nicht dafür geschrieben, sie wie ein gewöhnliches Buch von vorn bis hinten durchzublättern. Durch ihre Vielstimmigkeit soll sie Hoffnung wecken und mit dem Konzept, jeden Tag einen anderen Text vor sich zu haben, bindet sich der Leser an ein Stück Kontinuität.

Wer es sich zum Ritual machen möchte, jeden Tag einen Moment inne zu halten und einen der kleinen Friedenstexte zu lesen, wird gewiss die Möglichkeit finden, mit Vertrauen in die Zukunft zu blicken und sich gegen Angst zu wappnen. Die auch in zahlreichen Texten beschworenen Schrecken sollen dabei die Wichtigkeit des Friedens verdeutlichen und verschaffen der Reise durch das Jahr bzw. durch das Buch thematische und stilistische Abwechslung.

Der Wunsch nach Frieden und Versöhnung bleibt zeitlos, im Studium der Geschichte finden sich aber markante Punkte und Persönlichkeiten, die wir immer mit den großen Konflikten der Menschheit verbinden. Allgemeine, vergangene wie aktuelle Auseinandersetzungen, z. B. im Gaza-Streifen oder im Ukraine-Krieg kommen zur Ansprache, ebenso wie beispielsweise momentane Entwicklungen in den USA.

Wer dem Frieden eine Stimme geben möchte, kann durch dieses Buch seine Überzeugung stärken und die Stimmbänder emotional wie intellektuell trainieren. Die Schicksale und Beobachtungen der Autoren zeigen, dass wir fortwährend Fürsprecher für eine gemeinsame Zukunft brauchen werden.

---

365 Tage Frieden

Hrsg. Rüdiger Heins und Michael Landgraf

Verlag EDITION MAYA, 2025

ISBN: 978-3-930758-95-1

---

Dieser Beitrag wurde mit dem Pareto-Client geschrieben.

Not yet on Nostr and want the full experience? Easy onboarding via Start.

Artikel findet man auch auf Telegram unter:

https://t.me/pareto_artikel

https://t.me/friedenstaube_artikel

@ 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

@ 97c70a44:ad98e322

Vibe coding is taking the nostr developer community by storm. While it's all very exciting and interesting, I think it's important to pump the brakes a little - not in order to stop the vehicle, but to try to keep us from flying off the road as we approach this curve.

In this note Pablo is subtweeting something I said to him recently (although I'm sure he's heard it from other quarters as well):

nostr:nevent1qvzqqqqqqypzp75cf0tahv5z7plpdeaws7ex52nmnwgtwfr2g3m37r844evqrr6jqy2hwumn8ghj7un9d3shjtnyv9kh2uewd9hj7qghwaehxw309aex2mrp0yh8qunfd4skctnwv46z7qg6waehxw309ac8junpd45kgtnxd9shg6npvchxxmmd9uqzq0z48d4ttzzkupswnkyt5a2xfkhxl3hyavnxjujwn5k2k529aearwtecp4

There is a naive, curmudgeonly case for simply "not doing AI". I think the intuition is a good one, but the subject is obviously more complicated - not doing it, either on an individual or a collective level, is just not an option. I recently read Tools for Conviviality by Ivan Illich, which I think can help us here. For Illich, the best kind of tool is one which serves "politically interrelated individuals rather than managers".

This is obviously a core value for bitcoiners. And I think the talks given at the Oslo Freedom Forum this year present a compelling case for adoption of LLMs for the purposes of 1. using them for good, and 2. developing them further so that they don't get captured by corporations and governments. Illich calls both the telephone and print "almost ideally convivial". I would add the internet, cryptography, and LLMs to this list, because each one allows individuals to work cooperatively within communities to embody their values in their work.

But this is only half the story. Illich also points out how "the manipulative nature of institutions... have put these ideally convivial tools at the service of more [managerial dominance]."

Preventing the subversion and capture of our tools is not just a matter of who uses what, and for which ends. It also requires an awareness of the environment that the use of the tool (whether for virtuous or vicious ends) creates, which in turn forms the abilities, values, and desires of those who inhabit the environment.

The natural tendency of LLMs is to foster ignorance, dependence, and detachment from reality. This is not the fault of the tool itself, but that of humans' tendency to trade liberty for convenience. Nevertheless, the inherent values of a given tool naturally gives rise to an environment through use: the tool changes the world that the tool user lives in. This in turn indoctrinates the user into the internal logic of the tool, shaping their thinking, blinding them to the tool's influence, and neutering their ability to work in ways not endorsed by the structure of the tool-defined environment.

The result of this is that people are formed by their tools, becoming their slaves. We often talk about LLM misalignment, but the same is true of humans. Unreflective use of a tool creates people who are misaligned with their own interests. This is what I mean when I say that AI use is anti-human. I mean it in the same way that all unreflective tool use is anti-human. See Wendell Berry for an evaluation of industrial agriculture along the same lines.

What I'm not claiming is that a minority of high agency individuals can't use the technology for virtuous ends. In fact, I think that is an essential part of the solution. Tool use can be good. But tools that bring their users into dependence on complex industry and catechize their users into a particular system should be approached with extra caution. The plow was a convivial tool, and so were early tractors. Self-driving John Deere monstrosities are a straightforward extension of the earlier form of the technology, but are self-evidently an instrument of debt slavery, chemical dependency, industrial centralization, and degradation of the land. This over-extension of a given tool can occur regardless of the intentions of the user. As Illich says:

There is a form of malfunction in which growth does not yet tend toward the destruction of life, yet renders a tool antagonistic to its specific aims. Tools, in other words, have an optimal, a tolerable, and a negative range.

The initial form of a tool is almost always beneficial, because tools are made by humans for human ends. But as the scale of the tool grows, its logic gets more widely and forcibly applied. The solution to the anti-human tendencies of any technology is an understanding of scale. To prevent the overrun of the internal logic of a given tool and its creation of an environment hostile to human flourishing, we need to impose limits on scale.

Tools that require time periods or spaces or energies much beyond the order of corresponding natural scales are dysfunctional.

My problem with LLMs is:

• Not their imitation of human idioms, but their subversion of them and the resulting adoption of robotic idioms by humans
• Not the access they grant to information, but their ability to obscure accurate or relevant information
• Not their elimination of menial work, but its increase (Bullshit Jobs)
• Not their ability to take away jobs, but their ability to take away the meaning found in good work
• Not their ability to confer power to the user, but their ability to confer power to their owner which can be used to exploit the user
• Not their ability to solve problems mechanistically, but the extension of their mechanistic value system to human life
• Not their explicit promise of productivity, but the environment they implicitly create in which productivity depends on their use
• Not the conversations they are able to participate in, but the relationships they displace

All of these dysfunctions come from the over-application of the technology in evaluating and executing the fundamentally human task of living. AI work is the same kind of thing as an AI girlfriend, because work is not only for the creation of value (although that's an essential part of it), but also for the exercise of human agency in the world. In other words, tools must be tools, not masters. This is a problem of scale - when tool use is extended beyond its appropriate domain, it becomes what Illich calls a "radical monopoly" (the domination of a single paradigm over all of human life).

So the important question when dealing with any emergent technology becomes: how can we set limits such that the use of the technology is naturally confined to its appropriate scale?

Here are some considerations:

• Teach people how to use the technology well (e.g. cite sources when doing research, use context files instead of fighting the prompt, know when to ask questions rather than generate code)
• Create and use open source and self-hosted models and tools (MCP, stacks, tenex). Refuse to pay for closed or third-party hosted models and tools.
• Recognize the dependencies of the tool itself, for example GPU availability, and diversify the industrial sources to reduce fragility and dependence.
• Create models with built-in limits. The big companies have attempted this (resulting in Japanese Vikings), but the best-case effect is a top-down imposition of corporate values onto individuals. But the idea isn't inherently bad - a coding model that refuses to generate code in response to vague prompts, or which asks clarifying questions is an example. Or a home assistant that recognized childrens' voices and refuses to interact.
• Divert the productivity gains to human enrichment. Without mundane work to do, novice lawyers, coders, and accountants don't have an opportunity to hone their skills. But their learning could be subsidized by the bots in order to bring them up to a level that continues to be useful.
• Don't become a slave to the bots. Know when not to use it. Talk to real people. Write real code, poetry, novels, scripts. Do your own research. Learn by experience. Make your own stuff. Take a break from reviewing code to write some. Be independent, impossible to control. Don't underestimate the value to your soul of good work.
• Resist both monopoly and "radical monopoly". Both naturally collapse over time, but by cultivating an appreciation of the goodness of hand-crafted goods, non-synthetic entertainment, embodied relationship, and a balance between mobility and place, we can relegate new, threatening technologies to their correct role in society.

I think in all of this is implicit the idea of technological determinism, that productivity is power, and if you don't adapt you die. I reject this as an artifact of darwinism and materialism. The world is far more complex and full of grace than we think.

The idea that productivity creates wealth is, as we all know, bunk. GDP continues to go up, but ungrounded metrics don't reflect anything about the reality of human flourishing. We have to return to a qualitative understanding of life as whole, and contextualize quantitative tools and metrics within that framework.

Finally, don't believe the hype. Even if AI delivers everything it promises, conservatism in changing our ways of life will decelerate the rate of change society is subjected to and allow time for reflection and proper use of the tool. Curmudgeons are as valuable as technologists. There will be no jobspocalypse if there is sufficient political will to value human good over mere productivity. It's ok to pump the breaks.

@ a39d19ec:3d88f61e

What do you even print with it besides decorative objects?

This kind of question still is a common one when talking about 3d printing.

With this series of long-form notes I will show you some of the practical and useful 3d printed things, that I use a lot.

Let me start the series with a nice little print consisting of two parts.

Laptop riser

There are many designs of laptop risers available online. But I like that the parts are small and interlocking, so that the are always together when not in use. The riser fits all laptops in our house. Particularly when working in Fusion360 my laptop needs lots of fresh air. I use the raiser regularly about 3 times a week. Sadly I don't know where I downloaded it from, so I cannot provide a link to it.

@ a39d19ec:3d88f61e

October's daily driver is the ana-digi Casio ABX-53 Twincept with module 1326. It features are world time, stopwatch, alarm and a databank for contacts.

Design

I have the gold/silver colored variant with a metal band. The watch has an analog clock and a floating display with the features listed above. Best thing is the "slider" mode that switches digital functions permanently.

Storytime

My log tells me that i bought the watch 6 years ago on a local flea market for close to nothing. It was in a bad condition and needed a new battery and some love. Sure enough it works fine since then. Most badass feature is that the analog hands are moved electronically not mechanically. Fun fact is that even my wife likes the floating display. First time she saw it I heard her say "Das ist echt cool", meaning "thats really cool".

@ 39cc53c9:27168656

Read the original blog post

“The future is there... staring back at us. Trying to make sense of the fiction we will have become.” — William Gibson.

This month is the 4th anniversary of kycnot.me. Thank you for being here.

Fifteen years ago, Satoshi Nakamoto introduced Bitcoin, a peer-to-peer electronic cash system: a decentralized currency free from government and institutional control. Nakamoto's whitepaper showed a vision for a financial system based on trustless transactions, secured by cryptography. Some time forward and KYC (Know Your Customer), AML (Anti-Money Laundering), and CTF (Counter-Terrorism Financing) regulations started to come into play.

What a paradox: to engage with a system designed for decentralization, privacy, and independence, we are forced to give away our personal details. Using Bitcoin in the economy requires revealing your identity, not just to the party you interact with, but also to third parties who must track and report the interaction. You are forced to give sensitive data to entities you don't, can't, and shouldn't trust. Information can never be kept 100% safe; there's always a risk. Information is power, who knows about you has control over you.

Information asymmetry creates imbalances of power. When entities have detailed knowledge about individuals, they can manipulate, influence, or exploit this information to their advantage. The accumulation of personal data by corporations and governments enables extensive surveillances.

Such practices, moreover, exclude individuals from traditional economic systems if their documentation doesn't meet arbitrary standards, reinforcing a dystopian divide. Small businesses are similarly burdened by the costs of implementing these regulations, hindering free market competition^1:

How will they keep this information safe? Why do they need my identity? Why do they force businesses to enforce such regulations? It's always for your safety, to protect you from the "bad". Your life is perpetually in danger: terrorists, money launderers, villains... so the government steps in to save us.

‟Hush now, baby, baby, don't you cry Mamma's gonna make all of your nightmares come true Mamma's gonna put all of her fears into you Mamma's gonna keep you right here, under her wing She won't let you fly, but she might let you sing Mamma's gonna keep baby cosy and warm” — Mother, Pink Floyd

We must resist any attack on our privacy and freedom. To do this, we must collaborate.

If you have a service, refuse to ask for KYC; find a way. Accept cryptocurrencies like Bitcoin and Monero. Commit to circular economies. Remove the need to go through the FIAT system. People need fiat money to use most services, but we can change that.

If you're a user, donate to and prefer using services that accept such currencies. Encourage your friends to accept cryptocurrencies as well. Boycott FIAT system to the greatest extent you possibly can.

This may sound utopian, but it can be achieved. This movement can't be stopped. Go kick the hornet's nest.

“We must defend our own privacy if we expect to have any. We must come together and create systems which allow anonymous transactions to take place. People have been defending their own privacy for centuries with whispers, darkness, envelopes, closed doors, secret handshakes, and couriers. The technologies of the past did not allow for strong privacy, but electronic technologies do.” — Eric Hughes, A Cypherpunk's Manifesto

The anniversary

Four years ago, I began exploring ways to use crypto without KYC. I bookmarked a few favorite services and thought sharing them to the world might be useful. That was the first version of kycnot.me — a simple list of about 15 services. Since then, I've added services, rewritten it three times, and improved it to what it is now.

kycnot.me has remained 100% independent and 100% open source^2 all these years. I've received offers to buy the site, all of which I have declined and will continue to decline. It has been DDoS attacked many times, but we made it through. I have also rewritten the whole site almost once per year (three times in four years).

The code and scoring algorithm are open source (contributions are welcome) and I can't arbitrarly change a service's score without adding or removing attributes, making any arbitrary alterations obvious if they were fake. You can even see the score summary for any service's score.

I'm a one-person team, dedicating my free time to this project. I hope to keep doing so for many more years. Again, thank you for being part of this.

@ f7d424b5:618c51e8

GAMERS, we're back in the virtual studio for another sophisticated and gentlemanly discussion on the most important topic in the media landscape: huge anime tiddies on the best and baddest Bodytype Bs you've ever seen. I think the VA strike ended too or something.

Stuff cited:

• SB steam charts
• Commentary by Megan Shipman
• Mujin video that shows the leaked discord messages from the SAG discord

Obligatory:

• Listen to the new episode here!
• Discuss this episode on OUR NEW FORUM
• Get the RSS and Subscribe (this is a new feed URL, but the old one redirects here too!)
• Get a modern podcast app to use that RSS feed on at newpodcastapps.com
• Or listen to the show on the forum using the embedded Podverse player!
• Send your complaints here

Reminder that this is a Value4Value podcast so any support you can give us via a modern podcasting app is greatly appreciated and we will never bow to corporate sponsors!

@ 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

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Final thought...

East Coast aesthetics over everything.

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

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@ c631e267:c2b78d3e

Willst du den Charakter eines Menschen kennenlernen, \ so gib ihm Macht. \ Abraham Lincoln

Vermutlich war Friedrich Merz erleichtert nach seinem Besuch beim US-Präsidenten im Oval Office. Dem Bundeskanzler kam zwar neben der Wortgewalt Donald Trumps eher eine Statistenrolle in der Medienrunde zu, aber es hätte natürlich viel schlimmer kommen können. Deswegen hatte er sich wohl vorher Ratschläge geholt, wie man hört unter anderem vom ukrainischen Präsidenten Wolodymyr Selenskyj. Offiziell gab der deutsche Regierungschef sogar an, «außerordentlich zufrieden» mit seinem Antrittsbesuch zu sein.

Dabei gibt es aktuell doch mehr Differenzen als Gemeinsamkeiten. Zu den Themen, mit denen es eine sehr unterschiedliche Umgehensweise hier und dort gibt, gehört die Gesundheit. Trumps Gesundheitsminister, Robert F. Kennedy Jr., kritisiert zum Beispiel, die meisten US-Universitäten würden den Studenten zu wenig über die Bedeutung gesunder Ernährung beibringen. Im Vordergrund der medizinischen Ausbildung stünde zu sehr die Behandlung der Menschen mit Medikamenten. Daher plant er, den Fakultäten die Bundesmittel zu streichen, wenn sie ihren Studenten keine Ernährungskurse anbieten.

Der oft als Verschwörungstheoretiker diffamierte RFK Jr. ist auch Teil des wachsenden Widerstands gegen Geoengineering-Aktivitäten. Die Manipulation von Wetter und Klima beispielsweise durch das Freisetzen von Chemikalien in die Atmosphäre kann kaum gesund sein und soll daher mit Louisiana jetzt in einem weiteren US-Bundesstaat verboten werden. Kennedy hatte derartige Maßnahmen auch schon als ein Verbrechen bezeichnet, das es zu stoppen gelte.

Indes ist der deutsche Beitrag in diesem Kontext, dass Ex-Gesundheitsminister und Covid-Impfpflicht-Befürworter Karl Lauterbach jetzt zum Klimaexperten mutiert. Laut Spiegel soll er Mitglied einer Kommission für Klima und Gesundheit bei der Weltgesundheitsorganisation werden, angeblich unentgeltlich. Vermutlich möchte die WHO im Sinne ihrer One-Health-Initiative mit solcher Lobbyarbeit für «Klimaschutz als Teil des Gesundheitsschutzes» ihren globalen Führungsanspruch untermauern.

Das Thema «Corona» ist im Übrigen noch lange nicht erledigt und das Narrativ bekommt weitere Risse. Nachdem Kennedy in den USA den Covid-«Impfstoff» für gesunde Kinder und schwangere Frauen aus dem empfohlenen Impfplan gestrichen hat, ist eine CDC-Beraterin zurückgetreten, die die Gen-Injektionen für Schwangere gefördert hatte. Auch die australische Regierung hat ihre Impfempfehlungen aktualisiert. Sie räumt jetzt ein, dass der Nutzen des «Impfstoffs» die Schäden für gesunde Jugendliche nicht überwiegt.

Gleichzeitig berichten Medien von einer neuen, anhaltenden «Covid-19-Welle» in China. Es gebe Befürchtungen, dass es zu erneuten Lockdowns und anderen drastischen Maßnahmen kommen könnte, obwohl sich die «Infektionen» laut den Gesundheitsbehörden auf einem Abwärtstrend befinden. In einigen Schulen seien Schüler isoliert und unter Quarantäne gestellt worden.

Isolierung, Überwachung und Kontrolle sind ebenfalls ein höchst ungesundes Erbe der «Coronazeit». Die weltweit vielfach eingeführten digitalen «Impfpässe» wurden als Instrument benutzt, um Kampagnen für digitale Identitäten zu fördern und die entsprechenden Systeme aufzubauen. Gerade hat auch Griechenland mit der Einführung seiner «Personal Citizen Number» den Grundstein für ein einheitliches digitales ID-System gelegt.

Derweil schlagen Datenschützer Alarm wegen des Tracking-Potenzials der sogenannten «Phone Home»-Funktion vieler digitaler Ausweise. Dieses «Feature», bei dem im Hintergrund jedesmal der Aussteller kontaktiert wird, um eine Angabe zu überprüfen, werde ganz leise in der Gesellschaft eingeführt, warnen sie. Das gebe den Regierungen den Vorgeschmack auf eine Macht, die sie kaum jemals wieder loslassen würden. Dagegen hilft nur eins: wachsam sein, hinterfragen und im Zweifel «Nein» sagen, anstatt auf eine vermeintliche Bequemlichkeit hereinzufallen.

[Titelbild: Pixabay]

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

@ 2cde0e02:180a96b9

pen, watercolors & brushpen;

https://stacker.news/items/1006873

@ 97c70a44:ad98e322

When developing on nostr, normally it's enough to read the NIP related to a given feature you want to build to know what has to be done. But there are some aspects of nostr development that aren't so straightforward because they depend less on specific data formats than on how different concepts are combined.

An example of this is how for a while it was considered best practice to re-publish notes when replying to them. This practice emerged before the outbox model gained traction, and was a hacky way of attempting to ensure relays had the full context required for a given note. Over time though, pubkey hints emerged as a better way to ensure other clients could find required context.

Another one of these things is "relay-based groups", or as I prefer to call it "relays-as-groups" (RAG). Such a thing doesn't really exist - there's no spec for it (although some aspects of the concept are included in NIP 29), but at the same time there are two concrete implementations (Flotilla and Chachi) which leverage several different NIPs in order to create a cohesive system for groups on nostr.

This composability is one of the neat qualities of nostr. Not only would it be unhelpful to specify how different parts of the protocol should work together, it would be impossible because of the number of possible combinations possible just from applying a little bit of common sense to the NIPs repo. No one said it was ok to put t tags on a kind 0. But no one's stopping you! And the semantics are basically self-evident if you understand its component parts.

So, instead of writing a NIP that sets relay-based groups in stone, I'm writing this guide in order to document how I've combined different parts of the nostr protocol to create a compelling architecture for groups.

Relays

Relays already have a canonical identity, which is the relay's url. Events posted to a relay can be thought of as "posted to that group". This means that every relay is already a group. All nostr notes have already been posted to one or more groups.

One common objection to this structure is that identifying a group with a relay means that groups are dependent on the relay to continue hosting the group. In normal broadcast nostr (which forms organic permissionless groups based on user-centric social clustering), this is a very bad thing, because hosts are orthogonal to group identity. Communities are completely different. Communities actually need someone to enforce community boundaries, implement moderation, etc. Reliance on a host is a feature, not a bug (in contrast to NIP 29 groups, which tend to co-locate many groups on a single host, relays-as-groups tends to encourage one group, one host).

This doesn't mean that federation, mirrors, and migration can't be accomplished. In a sense, leaving this on the social layer is a good thing, because it adds friction to the dissolution/forking of a group. But the door is wide open to protocol additions to support those use cases for relay-based groups. One possible approach would be to follow this draft PR which specifies a "federation" event relays could publish on their own behalf.

Relay keys

This draft PR to NIP 11 specifies a self field which represents the relay's identity. Using this, relays can publish events on their own behalf. Currently, the pubkey field sort of does the same thing, but is overloaded as a contact field for the owner of the relay.

AUTH

Relays can control access using NIP 42 AUTH. There are any number of modes a relay can operate in:

1. No auth, fully public - anyone can read/write to the group.
2. Relays may enforce broad or granular access controls with AUTH.

Relays may deny EVENTs or REQs depending on user identity. Messages returned in AUTH, CLOSED, or OK messages should be human readable. It's crucial that clients show these error messages to users. Here's how Flotilla handles failed AUTH and denied event publishing:

LIMITS, PROBE, or some other reflection scheme could also be used in theory to help clients adapt their interface depending on user abilities and relay policy.

1. AUTH with implicit access controls.

In this mode, relays may exclude matching events from REQs if the user does not have permission to view them. This can be useful for multi-use relays that host hidden rooms. This mode should be used with caution, because it can result in confusion for the end user.

See Frith for a relay implementation that supports some of these auth policies.

Invite codes

If a user doesn't have access to a relay, they can request access using this draft NIP. This is true whether access has been explicitly or implicitly denied (although users will have to know that they should use an invite code to request access).

The above referenced NIP also contains a mechanism for users to request an invite code that they can share with other users.

The policy for these invite codes is entirely up to the relay. They may be single-use, multi-use, or require additional verification. Additional requirements can be communicated to the user in the OK message, for example directions to visit an external URL to register.

See Frith for a relay implementation that supports invite codes.

Content

Any kind of event can be published to a relay being treated as a group, unless rejected by the relay implementation. In particular, NIP 7D was added to support basic threads, and NIP C7 for chat messages.

Since which relay an event came from determines which group it was posted to, clients need to have a mechanism for keeping track of which relay they received an event from, and should not broadcast events to other relays (unless intending to cross-post the content).

Rooms

Rooms follow NIP 29. I wish NIP 29 wasn't called "relay based groups", which is very confusing when talking about "relays as groups". It's much better to think of them as sub-groups, or as Flotilla calls them, "rooms".

EDIT: Flotilla has migrated to exclusively use "managed rooms" — i.e., fully NIP 29 compliant rooms. Relays without NIP 29 support can still support chat, but all messages will be presented as sent to a single room. I've removed references to unmanaged rooms in what follows.

~~Rooms have two modes - managed and unmanaged. Managed~~ rooms follow all the rules laid out in NIP 29 about metadata published by the relay and user membership. In either case, rooms are represented by a random room id, and are posted to by including the id in an event's h tag. ~~This allows rooms to switch between managed and unmanaged modes without losing any content.~~

Managed room names come from kind 39000 room meta events, ~~but unmanaged rooms don't have these. Instead, room names should come from members' NIP 51 kind 10009 membership lists. Tags on these lists should look like this: ["group", "groupid", "wss://group.example.com", "Cat lovers"]. If no name can be found for the room (i.e., there aren't any members), the room should be ignored by clients.~~

Rooms present a difficulty for publishing to the relay as a whole, since content with an h tag can't be excluded from requests. ~~Currently, relay-wide posts are h-tagged with _ which works for "group" clients, but not more generally. I'm not sure how to solve this other than to ask relays to support negative filters.~~ I have ideas on how to solve this in future iterations of relay-based groups, for example using virtual relays or just a better rooms spec.

Cross-posting

The simplest way to cross-post content from one group (or room) to another, is to quote the original note in whatever event kind is appropriate. For example, a blog post might be quoted in a kind 9 to be cross-posted to chat, or in a kind 11 to be cross-posted to a thread. kind 16 reposts can be used the same way if the reader's client renders reposts.

Posting the original event to multiple relays-as-groups is trivial, since all you have to do is send the event to the relay. Posting to multiple rooms simultaneously by appending multiple h tags is however not recommended, since group relays/clients are incentivised to protect themselves from spam by rejecting events with multiple h tags (similar to how events with multiple t tags are sometimes rejected).

Privacy

Currently, it's recommended to include a NIP 70 - tag on content posted to relays-as-groups to discourage replication of relay-specific content across the network.

Another slightly stronger approach would be for group relays to strip signatures in order to make events invalid (or at least deniable). For this approach to work, users would have to be able to signal that they trust relays to be honest. We could also use ZkSNARKS to validate signatures in bulk.

In any case, group posts should not be considered "private" in the same way E2EE groups might be. Relays-as-groups should be considered a good fit for low-stakes groups with many members (since trust deteriorates quickly as more people get involved).

Membership

There is currently no canonical member list published by relays (except for NIP 29 managed rooms). Instead, users keep track of their own relay and room memberships using kind 10009 lists. Relay-level memberships are represented by an r tag containing the relay url, and room-level memberships are represented using a group tag.

Users can choose to advertise their membership in a RAG by using unencrypted tags, or they may keep their membership private by using encrypted tags. Advertised memberships are useful for helping people find groups based on their social graph:

User memberships should not be trusted, since they can be published unilaterally by anyone, regardless of actual access, so it's better to think of them as "bookmarked groups" or "favorites". Possible improvements in this area would be the ability to provide proof of access:

• Relays could publish member lists (although this would sacrifice member privacy)
• Relays could support a new command that allows querying a particular member's access status
• Relays could provide a proof to the member that they could then choose to publish or not

Moderation

There are two parts to moderation: reporting and taking action based on these reports.

Reporting is already covered by NIP 56. Clients should be careful about encouraging users to post reports for illegal content under their own identity, since that can itself be illegal. Relays also should not serve reports to users, since that can be used to find rather than address objectionable content.

Reports are only one mechanism for flagging objectionable content. Relay operators and administrators can use whatever heuristics they like to identify and address objectionable content. This might be via automated policies that auto-ban based on reports from high-reputation people, a client that implements NIP 86 relay management API, or by some other admin interface.

There's currently no way for moderators of a given relay to be advertised, or for a moderator's client to know that the user is a moderator (so that they can enable UI elements for in-app moderation). This could be addressed via NIP 11, LIMITS, or some other mechanism in the future.

General best practices

In general, it's very important when developing a client to assume that the relay has no special support for any of the above features, instead treating all of this stuff as progressive enhancement.

For example, if a user enters an invite code, go ahead and send it to the relay using a kind 28934 event. If it's rejected, you know that it didn't work. But if it's accepted, you don't know that it worked - you only know that the relay allowed the user to publish that event. This is helpful, becaues it may imply that the user does indeed have access to the relay. But additional probing may be needed, and reliance on error messages down the road when something else fails unexpectedly is indispensable.

This paradigm may drive some engineers nuts, because it's basically equivalent to coding your clients to reverse-engineer relay support for every feature you want to use. But this is true of nostr as a whole - anyone can put whatever weird stuff in an event and sign it. Clients have to be extremely compliant with Postell's law - doing their absolute best to accept whatever weird data or behavior shows up and handle failure in any situation. Sure, it's annoying, but it's the cost of permissionless development. What it gets us is a completely open-ended protocol, in which anything can be built, and in which every solution is tested by the market.

@ 39cc53c9:27168656

Read the original blog post

Know Your Customer is a regulation that requires companies of all sizes to verify the identity, suitability, and risks involved with maintaining a business relationship with a customer. Such procedures fit within the broader scope of anti-money laundering (AML) and counterterrorism financing (CTF) regulations.

Banks, exchanges, online business, mail providers, domain registrars... Everyone wants to know who you are before you can even opt for their service. Your personal information is flowing around the internet in the hands of "god-knows-who" and secured by "trust-me-bro military-grade encryption". Once your account is linked to your personal (and verified) identity, tracking you is just as easy as keeping logs on all these platforms.

Rights for Illusions

KYC processes aim to combat terrorist financing, money laundering, and other illicit activities. On the surface, KYC seems like a commendable initiative. I mean, who wouldn't want to halt terrorists and criminals in their tracks?

The logic behind KYC is: "If we mandate every financial service provider to identify their users, it becomes easier to pinpoint and apprehend the malicious actors."

However, terrorists and criminals are not precisely lining up to be identified. They're crafty. They may adopt false identities or find alternative strategies to continue their operations. Far from being outwitted, many times they're several steps ahead of regulations. Realistically, KYC might deter a small fraction – let's say about 1% ^1 – of these malefactors. Yet, the cost? All of us are saddled with the inconvenient process of identification just to use a service.

Under the rhetoric of "ensuring our safety", governments and institutions enact regulations that seem more out of a dystopian novel, gradually taking away our right to privacy.

To illustrate, consider a city where the mayor has rolled out facial recognition cameras in every nook and cranny. A band of criminals, intent on robbing a local store, rolls in with a stolen car, their faces obscured by masks and their bodies cloaked in all-black clothes. Once they've committed the crime and exited the city's boundaries, they switch vehicles and clothes out of the cameras' watchful eyes. The high-tech surveillance? It didn’t manage to identify or trace them. Yet, for every law-abiding citizen who merely wants to drive through the city or do some shopping, their movements and identities are constantly logged. The irony? This invasive tracking impacts all of us, just to catch the 1% ^1 of less-than-careful criminals.

KYC? Not you.

KYC creates barriers to participation in normal economic activity, to supposedly stop criminals. ^2

KYC puts barriers between many users and businesses. One of these comes from the fact that the process often requires multiple forms of identification, proof of address, and sometimes even financial records. For individuals in areas with poor record-keeping, non-recognized legal documents, or those who are unbanked, homeless or transient, obtaining these documents can be challenging, if not impossible.

For people who are not skilled with technology or just don't have access to it, there's also a barrier since KYC procedures are mostly online, leaving them inadvertently excluded.

Another barrier goes for the casual or one-time user, where they might not see the value in undergoing a rigorous KYC process, and these requirements can deter them from using the service altogether.

It also wipes some businesses out of the equation, since for smaller businesses, the costs associated with complying with KYC norms—from the actual process of gathering and submitting documents to potential delays in operations—can be prohibitive in economical and/or technical terms.

You're not welcome

Imagine a swanky new club in town with a strict "members only" sign. You hear the music, you see the lights, and you want in. You step up, ready to join, but suddenly there's a long list of criteria you must meet. After some time, you are finally checking all the boxes. But then the club rejects your membership with no clear reason why. You just weren't accepted. Frustrating, right?

This club scenario isn't too different from the fact that KYC is being used by many businesses as a convenient gatekeeping tool. A perfect excuse based on a "legal" procedure they are obliged to.

Even some exchanges may randomly use this to freeze and block funds from users, claiming these were "flagged" by a cryptic system that inspects the transactions. You are left hostage to their arbitrary decision to let you successfully pass the KYC procedure. If you choose to sidestep their invasive process, they might just hold onto your funds indefinitely.

Your identity has been stolen

KYC data has been found to be for sale on many dark net markets^3. Exchanges may have leaks or hacks, and such leaks contain very sensitive data. We're talking about the full monty: passport or ID scans, proof of address, and even those awkward selfies where you're holding up your ID next to your face. All this data is being left to the mercy of the (mostly) "trust-me-bro" security systems of such companies. Quite scary, isn't it?

As cheap as $10 for 100 documents, with discounts applying for those who buy in bulk, the personal identities of innocent users who passed KYC procedures are for sale. ^3

In short, if you have ever passed the KYC/AML process of a crypto exchange, your privacy is at risk of being compromised, or it might even have already been compromised.

(they) Know Your Coins

You may already know that Bitcoin and most cryptocurrencies have a transparent public blockchain, meaning that all data is shown unencrypted for everyone to see and recorded forever. If you link an address you own to your identity through KYC, for example, by sending an amount from a KYC exchange to it, your Bitcoin is no longer pseudonymous and can then be traced.

If, for instance, you send Bitcoin from such an identified address to another KYC'ed address (say, from a friend), everyone having access to that address-identity link information (exchanges, governments, hackers, etc.) will be able to associate that transaction and know who you are transacting with.

Conclusions

To sum up, KYC does not protect individuals; rather, it's a threat to our privacy, freedom, security and integrity. Sensible information flowing through the internet is thrown into chaos by dubious security measures. It puts borders between many potential customers and businesses, and it helps governments and companies track innocent users. That's the chaos KYC has stirred.

The criminals are using stolen identities from companies that gathered them thanks to these very same regulations that were supposed to combat them. Criminals always know how to circumvent such regulations. In the end, normal people are the most affected by these policies.

The threat that KYC poses to individuals in terms of privacy, security and freedom is not to be neglected. And if we don’t start challenging these systems and questioning their efficacy, we are just one step closer to the dystopian future that is now foreseeable.

Edited 20/03/2024 * Add reference to the 1% statement on Rights for Illusions section to an article where Chainalysis found that only 0.34% of the transaction volume with cryptocurrencies in 2023 was attributable to criminal activity ^1

@ 0403c86a:66d3a378

Exciting news for FOOTBALL fans ⚽! Global Sports Central 🌐 is teaming up with Predyx, a leading prediction market in the Bitcoin ecosystem, to bring you comprehensive coverage of the very first Club World Cup directly on Nostr. This partnership is all about enhancing your experience with the latest news, insights, and interactive features!

The Club World Cup will showcase the best clubs from around the globe, and with our collaboration, you’ll be fully engaged in the action. Predyx focuses on long-term outcomes, allowing you to make predictions on who will win it all. Plus, if you’re not happy with your predictions, you can sell your shares at any time and switch allegiance—after all, it’s a free market!

What You Can Expect:

• Latest News and Match Reports: Stay updated with the latest news, in-depth match reports, and insights from the tournament, ensuring you never miss a moment.

• Market Odds Tracking: Follow the shifts in market odds in real-time, giving you the edge when making predictions and engaging with the action.

• Player of the Day Card: Celebrate standout performances with our Daily Player of the Day card, highlighting the top players from the tournament.

• Game oN Frontpage: Each day, we’ll feature the frontpage of the day, showcasing the most historical matchups and capturing the feel of the game.

• Best Moments Replays: Relive the excitement with replays of the best moments from the Cup, so you can catch all the highlights and unforgettable plays.

• Long-Term Predictions: Engage with Predyx to forecast who will win the tournament and who will take home the MVP award, allowing you to make strategic predictions as the tournament unfolds.

• Easy Login System: Getting started is a breeze! All you need is a Lightning wallet to log in and participate, making it simple for everyone to join in on the fun.

• Lightning-Fast Bitcoin Payments: With the Lightning Network, placing your bets and making predictions is faster and easier than ever. Enjoy seamless transactions while you cheer for your favorite teams!

"Predyx is excited to be part of this innovative partnership," said Derek. "We’re bringing fans a new way to interact with the game they love, all while using the fast and secure Lightning Network."

Predyx is a Bitcoin-native prediction market platform running on the Lightning Network. We’re building the fastest, most trust-minimized betting engine in the world — no deposits, instant payouts, sats-native, and degen-friendly.

Global Sports Central 🌐 Your daily spin around the sports world 🔄 Stay in the loop with the latest scores, stories, and stats.

GSC360 - Where Every Angle Matters

@ 8671a6e5:f88194d1

## ParentCoin; limitless

There's this almost altcoin-like pitch of parenthood these days. I might’ve fallen for the shiny marketing of parenthood — cute baby pics, promises of legacy, the whole “you’ll change the world” vibe. I even heard a would-be mom tell me once (true story) "You know having children, you don't have to be afraid of it, as a dad it doesn't cost as much as you think". \ These people actually believe that. Just like they've fallen for every fiat-scam out there: housing, cars, holidays in France, Nike shoes, 50% taxation, religion and main stream media subscriptions.\ \ It’s 2025, and I’m revisiting this like I’d revisit an old Lightning Network post. \ \ Having kids is like chasing an altcoin airdrop with a slick but buzzword laden whitepaper and a charismatic founder who’s probably exit-scamming as soon as he gets enough of your money in their bank account (yeah you see what I did there). If you're lucky that founder might twerk from time to time to get your attention. But don't hope for too much. Now change that diaper and work an extra job to pay for all of it while inflation murders you.\ \ While you do all that, the most damaging thing about the Having Children Shitcoin (HCS) is the time it takes. It literally can't be shorted like some token on an exchange. It laughs, plays around with your tech gadgets, has to be potty trained (like some altcoin founders) and needs attention, education and a lot of proof of work.\ But the damage is the time. \ The time it takes to do all that, is actually replacing value with time. \ Bitcoin might be a product of proof of work, HCS is not a product but the actual proof of work without the value proposition.\ On top of that, the founder usually lives rent-free in your head your whole life, or even worse: you literally live together with her/him.\ Imagine Satoshi Nakamoto living at your house right now. Like... hi Satoshi.. love your bitcoin man.\ "Yeah, thanks moth**f****r, when are going to buy more skittle and some toilet paper? We ran out 10 minutes ago when I shit all over your dirty toilet, ..."\ "Eh, But Satoshi, why don't you go to the shop to..."\ "Shut up you f'ing a--hole, you made me! You made me what I am today! You liked me when I invented thàh bitcoin right? Now get me some toilet paper and here's a list of items I want from the supermarket! Lazy dumb idiot."\ "You'll clean up the kitchen right?"\ "Yeah yeah, rolls eyes, after my Netflix series man... now get out"\ \ This might sound far-fetched but founders of shitcoins steal your money, while children steal your time ànd money while you have to endure the founders as well.

Time is slowly damaging you while you live your life further and further away from the hard-money proposition. Hell, you even will need to sell some hard money to get by. Because it's a rotten world and children make you short sighted about the future (it limits you to maximum 3 years ahead in my experience with people around me).

Long-term is your enemy Short-term is your prison

You’re hyped for the long-term gains—multi-generational dynasties, just like the elites—but the fine print? It’s a mess. I’m here to unpack the hope, the scepticism, and the grim reality of raising kids in a world that feels like it’s speedrunning towards the absolute bottom. Let me make that clearer:

Our power (as bitcoiners) doesn't grow with these new generations, because we're being out-Idiocracy'd at a rate we can’t reproduce our way out of. Bitcoiners don’t scale. Even if you produce two children that both become die-hard bitcoin maximalists (with a nasal voice and a fondness for TD-sequential analysis.

The Mirage of Birth Having a kid is like snagging a hyped-up crypto airdrop. You’re told it’s “free” value — new life, pure joy, a legacy token dropped into your wallet. Everyone’s tweeting about it, posting ultrasound pics like they just scored 10,000 USDC worth of free shitcoin tokens.

But then the transaction fees hit, getting another place to live more accommodating, getting a school, adopt a dad body demeaner while torpedoing your social life and having no fun other than baking cakes and getting less pussy than a laser pointer with dead batteries. Adjust for inflation), sleepless nights, a vortex of money being vaporized and a lifetime of HODLing a position you can’t dump nor short. You’re basically the holder of last resort for a diatribe of chaos. You’re the entry, the trade, and exit liquidity. The real kicker? Society’s cheering you on while you’re stuck debugging your life and seeing your time drained. You’re frozen in time, while you should be scaling ideas. \ \ Or getting more out of life than being the channelling of funds to a future fiat oppressed kid. Meanwhile, parents (if they stay together that is... with relations with kids having their own version of the bitcoin “halving”, be it every 7 years or so. The parents follow the higher noble goal and get some love and nice moments in return. \ \ They’re stacking diapers instead of sats, living above a dry cleaner next to a subway station that rattles your soul. You can’t short kids, no matter how much you see the “childfree” crowd thriving. The childfree crowd is also not always that neutral, as many of them want this same life, because the marketing, as with many shitcoins is excellent. It makes life more fun, more fulfilling, more whole, while promising you cheap, fast and always immutable transactions. You’re getting duped. \ You buy more stuff, more hobbies no one cares about, and smile at other parents at these gatherings like you’re at the whale room at a bitcoin conference in a bear market. Keep smiling, bitches. That’s you’re life now. The numbers don’t lie. Society sells parenthood as a Bitcoin-level HODL, but the safety net is thinner than a layer-2 solution created by an Albanian exchange.

Raising kids is like betting your airdropped tokens will moon into a blue-chip asset that takes care of you when you’re old. You’re hoping they’ll HODL your hand, not rug-pull you into a nursing home when their “value” spikes. It’s a gamble: will they be decent humans or turn into TikTok zombies? Back in the day, kids were economic assets, working the farm or whatever. Now? You’re praying they don’t ghost you after college or at least recognize all the proof of work you did for them. And yes, you can have a big impact on them, that’s something to be proud of if it works out. But in the end, you are you, a person, with dreams, hopes and needs. \ And your children are too,... they’ll always win. \ \ Teaching them to ride a bike is fun, but it’s like a shitcoin pumping on a founder’s tweet: fleeting, followed by a crash whenever you see the effects of your years of de-progress and social isolation. Socializing with other parents is like making friends with a fellow prisoner of war in some jungle camp, ... you’ll have to be nice because it’s all you have left of society’s pleasantries. So you make small talk or a little joke about a toy someone’s kid has brought to the playground. The real world would see these people piss all over your grave if they could. They’re the figurehead on a ship of fools. And you play along because you’re a total bitch that got stuck in the routine of the famous HCS. Finding trust is hard, certainly in a city’s virtual prison camp where you play Russian roulette for other people’s amusement. It’s like running a Lightning node — fun in theory, but you’re babysitting a system that crashes when you need it most. The highs are real, but “kinda fun” doesn’t cut it when you’re debugging life. \ \ The 35k to 200k € it will cost you throughout your life, is not measurable as gains or losses. Look at the lovely baby pictures, look at their school results, the painting they made especially for you saying “I love you, for the best dad/mom in the whole world”. It hits straight to your brain’s nucleus accumbens. It’s all the balanced injection of the right shot of chemical balanced reward center (ventral tegmental area) food. \ And people with kids wanted that because that’s what the system and urges are. Kids are a leveraged position with no stop-loss, unlike an airdrop you can dump when the hype fades. You’re all-in, praying society doesn’t crash before your “asset” matures. In the meanwhile, you get the occasional surprise through your mesolimbic pathway. \ \ "Happy you" proof of stakes' the unhappy you later. You could be in the Maldives diving into clear water while talking to another “founder”. Funny how that works. \ Meanwhile, the childfree are staking their tokens and chilling. \ Parents aren’t building dynasties; we’re just trying not to get rug-pulled by daycare costs and rotten school-systems that learn our kids to be obedient consumers and non-thinking parrots. It’s a financial social anti-grind with no cure, and the charts, unlike fiat-corporate nonsense, don’t lie.

The elites stack power like blue-chip stocks, minting wealth across centuries. Us? Our kids might be fighting over the leftovers while they battle their way through university diversity and mediocracy. Future generations are supposed to carry the torch, but consumerism and cultural decay make it feel like we’re being out-Idiocracy’d. \ We need to think long-term, teach kids to code, stack sats, and question the system. But above all else, we need them to learn that being more evil is more just. Being complacent in this farce of a system means always, and I mean always, that the multi-generational monsters will prevail. \ \ They’re more stubborn, faster, better educated and they take the shortcuts you can’t have. We have hard money, they have “hard world”.

Conclusion

Eighteen years into this parenting thing (or eight minutes—who’s counting?), it’s clear: kids are a shitcoin airdrop with no exit strategy for you. \ The highs are sweet, the costs are brutal, and the long-term. A gamble on humanity in a world trending toward a broad brush of average things made normal.

Maybe it’s not about winning the bitcoin standard, but betting on something bigger than yourself within yourself, even if that market’s rigged with traps and detractors everywhere. Stack sats, stack diapers, and pray your kids don’t rug-pull your heart. \ Because, let’s face it, we’re not the Rothschilds — we’re just HODLing and hoping. \ While we should be fighting with the hardest money. \ While your baby cries for more food, I hear Michael Jackson sing “If you can’t feed your baby hi hee-hee, then don’t have a baybaah”. \ \ The sad part is, that we're all torn between chasing the fiat-created dreams and the reality that everything is in fact a shitcoin sapping either your time, money or effort. \ Even within the bitcoin space, we don't realize what the next step should be.\ It certainly isn't big families. That's for sure.

AVB\ tipjar: https://allesvoorbitcoin.be/donate/

@ 39cc53c9:27168656

Read the original blog post

The new website is finally live! I put in a lot of hard work over the past months on it. I'm proud to say that it's out now and it looks pretty cool, at least to me!

Why rewrite it all?

The old kycnot.me site was built using Python with Flask about two years ago. Since then, I've gained a lot more experience with Golang and coding in general. Trying to update that old codebase, which had a lot of design flaws, would have been a bad idea. It would have been like building on an unstable foundation.

That's why I made the decision to rewrite the entire application. Initially, I chose to use SvelteKit with JavaScript. I did manage to create a stable site that looked similar to the new one, but it required Jav aScript to work. As I kept coding, I started feeling like I was repeating "the Python mistake". I was writing the app in a language I wasn't very familiar with (just like when I was learning Python at that mom ent), and I wasn't happy with the code. It felt like spaghetti code all the time.

So, I made a complete U-turn and started over, this time using Golang. While I'm not as proficient in Golang as I am in Python now, I find it to be a very enjoyable language to code with. Most aof my recent pr ojects have been written in Golang, and I'm getting the hang of it. I tried to make the best decisions I could and structure the code as well as possible. Of course, there's still room for improvement, which I'll address in future updates.

Now I have a more maintainable website that can scale much better. It uses a real database instead of a JSON file like the old site, and I can add many more features. Since I chose to go with Golang, I mad e the "tradeoff" of not using JavaScript at all, so all the rendering load falls on the server. But I believe it's a tradeoff that's worth it.

What's new

• UI/UX - I've designed a new logo and color palette for kycnot.me. I think it looks pretty cool and cypherpunk. I am not a graphic designer, but I think I did a decent work and I put a lot of thinking on it to make it pleasant!
• Point system - The new point system provides more detailed information about the listings, and can be expanded to cover additional features across all services. Anyone can request a new point!
• ToS Scrapper: I've implemented a powerful automated terms-of-service scrapper that collects all the ToS pages from the listings. It saves you from the hassle of reading the ToS by listing the lines that are suspiciously related to KYC/AML practices. This is still in development and it will improve for sure, but it works pretty fine right now!
• Search bar - The new search bar allows you to easily filter services. It performs a full-text search on the Title, Description, Category, and Tags of all the services. Looking for VPN services? Just search for "vpn"!
• Transparency - To be more transparent, all discussions about services now take place publicly on GitLab. I won't be answering any e-mails (an auto-reply will prompt to write to the corresponding Gitlab issue). This ensures that all service-related matters are publicly accessible and recorded. Additionally, there's a real-time audits page that displays database changes.
• Listing Requests - I have upgraded the request system. The new form allows you to directly request services or points without any extra steps. In the future, I plan to enable requests for specific changes to parts of the website.
• Lightweight and fast - The new site is lighter and faster than its predecessor!
• Tor and I2P - At last! kycnot.me is now officially on Tor and I2P!

How?

This rewrite has been a labor of love, in the end, I've been working on this for more than 3 months now. I don't have a team, so I work by myself on my free time, but I find great joy in helping people on their private journey with cryptocurrencies. Making it easier for individuals to use cryptocurrencies without KYC is a goal I am proud of!

If you appreciate my work, you can support me through the methods listed here. Alternatively, feel free to send me an email with a kind message!

Technical details

All the code is written in Golang, the website makes use of the chi router for the routing part. I also make use of BigCache for caching database requests. There is 0 JavaScript, so all the rendering load falls on the server, this means it needed to be efficient enough to not drawn with a few users since the old site was reporting about 2M requests per month on average (note that this are not unique users).

The database is running with mariadb, using gorm as the ORM. This is more than enough for this project. I started working with an sqlite database, but I ended up migrating to mariadb since it works better with JSON.

The scraper is using chromedp combined with a series of keywords, regex and other logic. It runs every 24h and scraps all the services. You can find the scraper code here.

The frontend is written using Golang Templates for the HTML, and TailwindCSS plus DaisyUI for the CSS classes framework. I also use some plain CSS, but it's minimal.

The requests forms is the only part of the project that requires JavaScript to be enabled. It is needed for parsing some from fields that are a bit complex and for the "captcha", which is a simple Proof of Work that runs on your browser, destinated to avoid spam. For this, I use mCaptcha.

@ df478568:2a951e67

Marty Bent Vibe coded the opportunity cost app. I have not tried it yet, but love the concept. I have been into bitcoin since 2014, but I spent more generational wealth than I would care to admit back then. I've heard stories of fortunes blown on cocaine in the 1980's. I could write a story about spending a fortune on Diet Mt. Dew. I don't drink Diet Mt. Dew anymore. This one time, I spent about a million sats for a light beer at a baseball game. I wouldn't say I had a drinking problem, a million sats was only five bucks at the time. I didn't know that much bitcoin would be worth over a thousand bucks eleven years later.

I don't drink beer anymore. Bitcoin tends to do that to you.

We can afford chairs now. To be honest, we need a couch. The last couch I bought was in 2017 and it cost about a whole bitcoin. That couch is buried in a landfill today. My wife loves furniture, but even she's hesitant to spend sats on a couch now. We know we need a couch, but we don't want to spend sats on something we will need to replace before the next halving.

Many of us who have been in bitcoin for more than a decade have some regrets. I know I do, but we need to live our lives. I would never say you should sit on the floor, but I encourage to you to think about time. How long will this thing I need to buy last? If you think you can give a 3 million sat couch to your grandchildren, spend three million sats on the couch. If your five year plan for the couch is to help fill a landfill, maybe you only need to buy a used couch at a thrift store. This is not investment advice of course. How can it be? I don't know what kind of couch hazards you have in your house. I have trouble finding a couch of my own, but it's how I think about making bigger purchases. How many years of your retirement will that watch, car, house or whatever cost you from your stack? You can only determine that for yourself. I think the opportunity cost app will help you keep track of your decision.

This app was made by someone who once spent a whole bitcoin on a heater. I can't speak for Marty, but I believe the opportunity cost app will help you learn from my mistakes.

For more information, check out:

https://www.opportunitycost.app/

Check out the code on GitHub.

Using The Opportunity Cost App

The app is pretty straight forward. It is only available on Chrome for now so I installed it on the Chromium browser. I looked at the settings, but kept them default.

Then I searched for a Rolex in Duck Duck Go.

The default is bitcoin, but there is a sat calculator in the corner too, I have always wanted a Rolex Milgauss with a green sapphire so I looked it up on eBay. It's about 8 million sats. That's too rich for my blood, but I might be willing to part with a million sats for that watch. I'll definitely pick it up for 500,000 sats. I can wait. Bitcoin is the best clock in the world. I wouldn't go so far as to call this Rolex a shitcoin, but bitcoin is a better clock than any watch in my opinion--Even when compared to my favorite watch.

Video From Opportunity Cost Website

How will you use the Opportunity Cost browser extension?

☮️ npub1marc26z8nh3xkj5rcx7ufkatvx6ueqhp5vfw9v5teq26z254renshtf3g0

https://zapthisblog.com/calculate-your-opportunity-cost-while-shopping/

900,678

@ 0faf8268:2e8a5462

Using Browser Extensions to Log In and Sign Events on Nostr

If you're new to Nostr, or trying to log in to a client via a web browser using an existing account, you may come across something that feels risky: being asked to paste your private key (your nsec) into a website to log in. This guide outlines a safer alternative. using browser extensions like Nos2x or Alby, which let you securely log in and sign actions without exposing your private key.

These extensions only work in desktop web browsers, not in mobile apps. If you're logging in to a mobile Nostr client (such as Primal, Amethyst, Damus, or others), you’ll typically need to either paste your existing nsec into the app or use a secure import method, like scanning a QR code or restoring from a backup. Be extremely cautious when pasting your nsec, and only do so in apps you trust.

What is NAWC

NAWC stands for "Nostr Authorisation Web Credential". It allows Nostr websites to ask your browser for permission to read your public key and sign messages, without needing direct access to your private key. It works similarly to a password manager or a crypto wallet extension.

Why avoid pasting your nsec

Your nsec is your private key. If someone gains access to it, they can impersonate you, send posts as you, or read your private messages.

Pasting your nsec into a web form is discouraged for several reasons:

• The site might be compromised or malicious

• Your key could be stored in browser memory or cached

• Extensions, scripts, or browser plugins could access the field

• You may unknowingly copy or sync it elsewhere (e.g. clipboard history, autofill, cloud sync)

Once exposed, your nsec cannot be revoked or changed, it is your entire Nostr identity. This is why experienced users recommend using extensions that safely manage your key and handle signing.

What new users might notice

Some Nostr clients still prompt users to paste their nsec, even when a signing extension like Nos2x is installed. This can cause confusion, especially for users trying to follow best practice. Extensions sometimes need to be manually enabled, refreshed, or granted permission before they are recognised. These challenges are common in a developing ecosystem and should improve over time.

Extensions that support NAWC

Nos2x

• Chrome only

• Stores one private key locally

• Works with sites like Primal and Coracle

• Lightweight and simple to use

Alby

• Available for Chrome and Firefox

• Originally built for Lightning, but also supports Nostr

• May need extra setup for non-Lightning Nostr use

• Supports switching between keys and profiles

Bunker (self-hosted signer, not an extension)

• Keeps your private key entirely isolated from the browser

• Can be combined with hardware devices or run remotely

• Ideal for advanced users or managing multiple keys with higher security

Why Signing Events Matters in Nostr

On Nostr, everything you do, posting a note, reacting to content, updating your profile, is considered an event.

To prove that an event is really yours, it must be signed with your private key. This signature is what makes the event valid and verifiable by anyone on the network.

Browser extensions like Nos2x, Alby, or self-hosted signers like Bunker handle this event signing for you. Instead of giving the site your private key, the extension signs the event on your behalf, keeping your key secure while still proving authorship.

In short: extensions are not just for logging in, they also sign everything you do. This keeps your identity secure and helps maintain Nostr’s decentralised and trustless nature.

How to use an extension

1. Install Nos2x or Alby

2. Enter your nsec into the extension settings (only once)

3. Visit a Nostr client like primal.net

4. Approve the login request from the extension

5. You’ll be logged in securely without pasting your key

Switching keys

Most extensions support only one private key at a time. To switch:

• Open the extension

• Remove the current key and enter a new one

• Refresh the site and reauthorise when prompted

If your old key keeps reappearing or does not seem to clear properly, it may be necessary to:

• Uninstall the extension

• Reinstall it from the Chrome Web Store

• Then enter your new nsec during setup

This is a known issue with some extensions (like Nos2x), and will likely improve as tools mature. For now, a clean reinstall is a simple workaround.

Wrap-up

Browser extensions are one of the safest and most effective ways to interact with Nostr. They protect your private key, simplify login, and securely sign every action you take.

While the user experience is still evolving, using a signing extension today is a smart way to get started safely and build good habits as you explore the network.

For more beginner-friendly Nostr guidance, visit:\ https://swiftsats.github.io/getting-started-with-nostr/

@ 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

---

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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.

---

Final thought...

The kids really do grow up faster than you expect.

---

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:

@ a39d19ec:3d88f61e

This months daily driver is the #Casio A100WE with module 3503. It features am/pm time, date and weekday, alarm and a stopwatch.

Design

The design is plain and simple. 4 front facing Button, a small but surprisingly readable display. It has a resin casing with metal surface and a black rubber band.

Storytime

There is not much to say about this watch. I remember buying it for my collection because it was on sale some time ago. There is one version with the colour accents near the buttons, that looks much nicer.

@ 39cc53c9:27168656

Read the original blog post

Over the past few months, I've dedicated my time to a complete rewrite of the kycnot.me website. The technology stack remains unchanged; Golang paired with TailwindCSS. However, I've made some design choices in this iteration that I believe significantly enhance the site. Particularly to backend code.

UI Improvements

You'll notice a refreshed UI that retains the original concept but has some notable enhancements. The service list view is now more visually engaging, it displays additional information in a more aesthetically pleasing manner. Both filtering and searching functionalities have been optimized for speed and user experience.

Service pages have been also redesigned to highlight key information at the top, with the KYC Level box always accessible. The display of service attributes is now more visually intuitive.

The request form, especially the Captcha, has undergone substantial improvements. The new self-made Captcha is robust, addressing the reliability issues encountered with the previous version.

Terms of Service Summarizer

A significant upgrade is the Terms of Service summarizer/reviewer, now powered by AI (GPT-4-turbo). It efficiently condenses each service's ToS, extracting and presenting critical points, including any warnings. Summaries are updated monthly, processing over 40 ToS pages via the OpenAI API using a self-crafted and thoroughly tested prompt.

Nostr Comments

I've integrated a comment section for each service using Nostr. For guidance on using this feature, visit the dedicated how-to page.

Database

The backend database has transitioned to pocketbase, an open-source Golang backend that has been a pleasure to work with. I maintain an updated fork of the Golang SDK for pocketbase at pluja/pocketbase.

Scoring

The scoring algorithm has also been refined to be more fair. Despite I had considered its removal due to the complexity it adds (it is very difficult to design a fair scoring system), some users highlighted its value, so I kept it. The updated algorithm is available open source.

Listings

Each listing has been re-evaluated, and the ones that were no longer operational were removed. New additions are included, and the backlog of pending services will be addressed progressively, since I still have access to the old database.

API

The API now offers more comprehensive data. For more details, check here.

About Page

The About page has been restructured for brevity and clarity.

Other Changes

Extensive changes have been implemented in the server-side logic, since the whole code base was re-written from the ground up. I may discuss these in a future post, but for now, I consider the current version to be just a bit beyond beta, and additional updates are planned in the coming weeks.

@ 32e18276:5c68e245

6 years ago I created some tools for working with peter todd's opentimestamps proof format. You can do some fun things like create plaintext and mini ots proofs. This short post is just a demo of what these tools do and how to use them.

What is OTS?

OpenTimestamps is a protocol for stamping information into bitcoin in a minimal way. It uses OP_RETURN outputs so that it has minimal impact on chain, and potentially millions of documents are stamped all at once with a merkle tree construction.

Examples

Here's the proof of the ots.c source file getting stamped into the ots calendar merkle tree. We're simply printing the ots proof file here with otsprint:

``` $ ./otsprint ots.c.ots

version 1 file_hash sha256 f76f0795ff37a24e566cd77d1996b64fab9c871a5928ab9389dfc3a128ec8296 append 2e9943d3833768bdb9a591f1d2735804 sha256 | --> append 2d82e7414811ecbf | sha256 | append a69d4f93e3e0f6c9b8321ce2cdd90decd34d260ea3f8b55e83d157ad398b7843 | sha256 | append ac0b5896401478eb6d88a408ec08b33fd303b574fb09b503f1ac1255b432d304 | sha256 | append 8aa9fd0245664c23d31d344243b4e8b0 | sha256 | prepend 414db5a1cd3a3e6668bf2dca9007e7c0fc5aa6dc71a2eab3afb51425c3acc472 | sha256 | append 5355b15d88d4dece45cddb7913f2c83d41e641e8c1d939dac4323671a4f8e197 | sha256 | append a2babd907ca513ab561ce3860e64a26b7df5de117f1f230bc8f1a248836f0c25 | sha256 | prepend 683f072f | append 2a4cdf9e9e04f2fd | attestation calendar https://alice.btc.calendar.opentimestamps.org | --> append 7c8764fcaba5ed5d | sha256 | prepend f7e1ada392247d3f3116a97d73fcf4c0994b5c22fff824736db46cd577b97151 | sha256 | append 3c43ac41e0281f1dbcd7e713eb1ffaec48c5e05af404bca2166cdc51966a921c | sha256 | append 07b18bd7f4a5dc72326416aa3c8628ca80c8d95d7b1a82202b90bc824974da13 | sha256 | append b4d641ab029e7d900e92261c2342c9c9 | sha256 | append 4968b89b02b534f33dc26882862d25cca8f0fa76be5b9d3a3b5e2d77690e022b | sha256 | append 48c54e30b3a9ec0e6339b88ed9d04b9b1065838596a4ec778cbfc0dfc0f8c781 | sha256 | prepend 683f072f | append 8b2b4beda36c18dc | attestation calendar https://bob.btc.calendar.opentimestamps.org | --> append baa878b42ef3e0d45b324cc3a39a247a | sha256 | prepend 4fb1bc663cd641ad18e5c73fb618de1ae3d28fb5c3c224b7f9888fd52feb09ec | sha256 | append 731329278830c9725497d70e9f5a02e4b2d9c73ff73560beb3a896a2f180fdbf | sha256 | append 689024a9d57ad5daad669f001316dd0fc690ac4520410f97a349b05a3f5d69cb | sha256 | append 69d42dcb650bb2a690f850c3f6e14e46c2b0831361bac9ec454818264b9102fd | sha256 | prepend 683f072f | append bab471ba32acd9c3 | attestation calendar https://btc.calendar.catallaxy.com append c3ccce274e2f9edfa354ec105cb1a749 sha256 append 6297b54e3ce4ba71ecb06bd5632fd8cbd50fe6427b6bfc53a0e462348cc48bab sha256 append c28f03545a2948bd0d8102c887241aff5d4f6cf1e0b16dfd8787bf45ca2ab93d sha256 prepend 683f072f append 7f3259e285891c8e attestation calendar https://finney.calendar.eternitywall.com ```

The tool can create a minimal version of the proofs:

``` $ ./otsmini ots.c.ots | ./otsmini -d | ./otsprint

version 1 file_hash sha256 f76f0795ff37a24e566cd77d1996b64fab9c871a5928ab9389dfc3a128ec8296 append 2e9943d3833768bdb9a591f1d2735804 sha256 append c3ccce274e2f9edfa354ec105cb1a749 sha256 append 6297b54e3ce4ba71ecb06bd5632fd8cbd50fe6427b6bfc53a0e462348cc48bab sha256 append c28f03545a2948bd0d8102c887241aff5d4f6cf1e0b16dfd8787bf45ca2ab93d sha256 prepend 683f072f append 7f3259e285891c8e attestation calendar https://finney.calendar.eternitywall.com ```

which can be shared on social media as a string:

5s1L3tTWoTfUDhB1MPLXE1rnajwUdUnt8pfjZfY1UWVWpWu5YhW3PGCWWoXwWBRJ16B8182kQgxnKyiJtGQgRoFNbDfBss19seDnco5sF9WrBt8jQW7BVVmTB5mmAPa8ryb5929w4xEm1aE7S3SGMFr9rUgkNNzhMg4VK6vZmNqDGYvvZxBtwDMs2PRJk7y6wL6aJmq6yoaWPvuxaik4qMp76ApXEufP6RnWdapqGGsKy7TNE6ZzWWz2VXbaEXGwgjrxqF8bMstZMdGo2VzpVuE

you can even do things like gpg-style plaintext proofs:

``` $ ./otsclear -e CONTRIBUTING.ots -----BEGIN OPENTIMESTAMPS MESSAGE-----

Email patches to William Casarin jb55@jb55.com

-----BEGIN OPENTIMESTAMPS PROOF-----

AE9wZW5UaW1lc3RhbXBzAABQcm9vZgC/ieLohOiSlAEILXj4GSagG6fRNnR+CHj9e/+Mdkp0w1us gV/5dmlX2NrwEDlcBMmQ723mI9sY9ALUlXoI//AQRXlCd716J60FudR+C78fkAjwIDnONJrj1udi NDxQQ8UJiS4ZWfprUxbvaIoBs4G+4u6kCPEEaD8Ft/AIeS/skaOtQRoAg9/jDS75DI4pKGh0dHBz Oi8vZmlubmV5LmNhbGVuZGFyLmV0ZXJuaXR5d2FsbC5jb23/8AhMLZVzYZMYqwjwEPKWanBNPZVm kqsAYV3LBbkI8CCfIVveDh/S8ykOH1NC6BKTerHoPojvj1OmjB2LYvdUbgjxBGg/BbbwCGoo3fi1 A7rjAIPf4w0u+QyOLi1odHRwczovL2FsaWNlLmJ0Yy5jYWxlbmRhci5vcGVudGltZXN0YW1wcy5v cmf/8Aik+VP+n3FhCwjwELfTdHAfYQNa49I3CYycFbkI8QRoPwW28AgCLn93967lIQCD3+MNLvkM jiwraHR0cHM6Ly9ib2IuYnRjLmNhbGVuZGFyLm9wZW50aW1lc3RhbXBzLm9yZ/AQ3bEwg7mjQyKR PykGgiJewAjwID5Q68dY4m+XogwTJx72ecQEe5lheCO1RnlcJSTFokyRCPEEaD8Ft/AIw1WWPe++ 8N4Ag9/jDS75DI4jImh0dHBzOi8vYnRjLmNhbGVuZGFyLmNhdGFsbGF4eS5jb20= -----END OPENTIMESTAMPS PROOF-----

$ ./otsclear -v <<<proof_string... # verify the proof string ```

I've never really shared these tools before, I just remembered about it today. Enjoy!

Try it out: https://github.com/jb55/ots-tools

@ 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

@ 04c3c1a5:a94cf83d

button #2 nj

@ 39cc53c9:27168656

Read the original blog post

Over the past few months, I've dedicated my time to a complete rewrite of the kycnot.me website. The technology stack remains unchanged; Golang paired with TailwindCSS. However, I've made some design choices in this iteration that I believe significantly enhance the site. Particularly to backend code.

UI Improvements

You'll notice a refreshed UI that retains the original concept but has some notable enhancements. The service list view is now more visually engaging, it displays additional information in a more aesthetically pleasing manner. Both filtering and searching functionalities have been optimized for speed and user experience.

Service pages have been also redesigned to highlight key information at the top, with the KYC Level box always accessible. The display of service attributes is now more visually intuitive.

The request form, especially the Captcha, has undergone substantial improvements. The new self-made Captcha is robust, addressing the reliability issues encountered with the previous version.

Terms of Service Summarizer

A significant upgrade is the Terms of Service summarizer/reviewer, now powered by AI (GPT-4-turbo). It efficiently condenses each service's ToS, extracting and presenting critical points, including any warnings. Summaries are updated monthly, processing over 40 ToS pages via the OpenAI API using a self-crafted and thoroughly tested prompt.

Nostr Comments

I've integrated a comment section for each service using Nostr. For guidance on using this feature, visit the dedicated how-to page.

Database

The backend database has transitioned to pocketbase, an open-source Golang backend that has been a pleasure to work with. I maintain an updated fork of the Golang SDK for pocketbase at pluja/pocketbase.

Scoring

The scoring algorithm has also been refined to be more fair. Despite I had considered its removal due to the complexity it adds (it is very difficult to design a fair scoring system), some users highlighted its value, so I kept it. The updated algorithm is available open source.

Listings

Each listing has been re-evaluated, and the ones that were no longer operational were removed. New additions are included, and the backlog of pending services will be addressed progressively, since I still have access to the old database.

API

The API now offers more comprehensive data. For more details, check here.

About Page

The About page has been restructured for brevity and clarity.

Other Changes

Extensive changes have been implemented in the server-side logic, since the whole code base was re-written from the ground up. I may discuss these in a future post, but for now, I consider the current version to be just a bit beyond beta, and additional updates are planned in the coming weeks.

@ 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

@ 4fe14ef2:f51992ec

Let's support Bitcoin merchants! I'd love to hear some of your latest Lightning purchases and interesting products you bought. Feel free to include links to the shops or businesses you bought from.

Who else has a recent purchase they’re excited about? Bonus sats if you found a killer deal! ⚡

If you missed our last thread, here are some of the items stackers recently spent and zap on.

Like and repost: X: https://x.com/AGORA_SN/status/1934193660796780660 N: https://njump.me/nevent1qqsdaqz3qjmgta88a4wnzyh7vujla7ecsc7luatrtl0a2k7xq43thhq337lj2

https://stacker.news/items/1006838

@ 8bad92c3:ca714aa5

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

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

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

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 insight

@ a5ee4475:2ca75401

[EM ATUALIZAÇÃO]

vacina #saude #politica #manipulacao #mundial #genocidio #pandemia #conspiracao

"Aqueles que não conseguem lembrar o passado estão condenados a repeti-lo." - George Satayana

Este artigo reúne algumas menções e evidências mais antigas que vim registrando durante alguns anos em relação a Covid-19, vacinas obrigatórias e a ação de agências de governo, fundações, políticos, mídia tradicional, celebridades, influenciadores, cientistas, redes sociais e laboratórios, em envolvimento com genocídio e restrições de liberdades em escala mundial causado por decisões em várias esferas relativas ao covid e as vacinas obrigatórias em geral.

Porém, alguns links podem não estar mais disponíveis, foram que ainda faltam ser registradas muitas informações já divulgadas nos últimos anos e que muitos não tiveram contato pela escassez de meios para a obtenção dessas informações de forma organizada.

Portanto, o presente artigo ainda passará por atualizações de conteúdo e formatação. Logo, se possível, ajudem sugerindo complementos ou alterações, ou com doações.

---

Noções iniciais:

• O termo 'Coronavírus' (COVID) é na verdade um nome genérico para vários vírus de gripes já comuns, dado para o tipo corona (com uma "coroa", 'espetos' ao redor dele), o Sars-Cov-2 (que passou a ser chamado erroneamente só de Covid), é só um deles.
• SARS-CoV-2 é que é nome do vírus. Ele que causa a doença Covid-19;
• O coronavírus SARS-CoV-2 é o segundo tipo de SARS-CoV documentado, o primeiro ocorreu entre 2002 e 2003, se originando também da China e também dito como tendo origem animal;
• SARS (Severe Acute Respiratory Syndrome) - Síndrome Respiratória Aguda Grave (SRAG) é a uma doença respiratória viral, relatada ser de origem zoonótica (animal), causada pelos coronavírus SARS-CoV (2002) e SARS-CoV-2 (2019), ambos de origem chinesa;

---

1. Vacinas Obrigatórias em Geral

23/01/2025 - [Pesquisa] Vacinas nos EUA causando autismo em crianças https://publichealthpolicyjournal.com/vaccination-and-neurodevelopmental-disorders-a-study-of-nine-year-old-children-enrolled-in-medicaid/

• O CDC admite que 98 milhões de pessoas receberam o vírus do câncer através da vacina da Poliomielite https://medicinanews.com.br/frente/frente_1/o-cdc-admite-que-98-milhoes-de-pessoas-receberam-o-virus-do-cancer-atraves-da-vacina-poliomielite/

"O CDC (Os Centros de Controle e Prevenção de Doenças dos Estados Unidos) removeu rapidamente uma página do seu site, que estava em cache no Google, como você pode ver logo abaixo, admitindo que mais de 98 milhões de americanos receberam uma ou mais doses de vacina contra pólio dentro de 8 período entre 1955 e 1963, quando uma proporção da vacina foi contaminada com um poliomavírus causador de câncer chamado SV40."

Fonte original da imagem: https://preventdisease.com/images13/CDC_Polio.png [indisponível] - A imagem foi trocada por outra de menor qualidade e em outro link, mas eu já tinha a imagem original salva.

Imagem arquivada em: https://web.archive.org/web/20201203231640/

27/02/2021 - Por que o Japão demorou para vacinar, mesmo com Olimpíada se aproximando https://www.cnnbrasil.com.br/internacional/2021/02/27/por-que-o-japao-demorou-para-vacinar-mesmo-com-olimpiada-se-aproximando

"Desconfiança da população japonesa em relação a vacinas, ligada a casos ocorridos no passado, está entre razões que atrasaram imunização no país.

A resistência à vacina do Japão remonta à década de 1970, quando duas crianças morreram dentro de 24 horas após receberem a vacina combinada contra difteria, tétano e coqueluche (coqueluche). A vacina foi temporariamente suspensa, mas a confiança já havia sido abalada. Por vários anos, as taxas de vacinação infantil caíram, levando a um aumento nos casos de tosse convulsa.

No final dos anos 1980, houve outro susto com a introdução da vacina tripla contra sarampo, caxumba e rubéola produzida no Japão. As primeiras versões do imunizante foram associadas à meningite asséptica, ou inchaço das membranas ao redor do cérebro e da medula espinhal. O problema foi rastreado até o componente caxumba da vacina tripla, o que levou a uma ação judicial e a indenização por danos pesados.

O Instituto Nacional de Ciências da Saúde interrompeu a dose combinada em 1993 e a substituiu por vacinas individuais. Após o escândalo, Shibuya disse que o governo japonês se tornou "ciente dos riscos" e seu programa nacional de vacinação tornou-se voluntário.

O Dr. Yuho Horikoshi, especialista em doenças infecciosas, diz que os processos levaram a uma "lacuna de vacinação", em que nenhuma vacina foi aprovada no Japão por cerca de 15 anos.

Mais recentemente, em 2013, o Japão adicionou a vacina contra o papilomavírus humano (HPV) ao calendário nacional para proteger as meninas contra o vírus sexualmente transmissível, que é conhecido por causar câncer cervical. No entanto, vídeos de meninas supostamente sofrendo de reações adversas começaram a circular no YouTube, levando o governo a retirá-los da programação nacional."

---

2. PRIMEIRAS OCORRÊNCIAS PREDITIVAS AO COVID-19

2002 - Síndrome respiratória aguda grave (SARS) Brenda L. Tesini (setembro de 2018). Síndrome respiratória aguda grave (SARS) [indisponível]. Manual Merck. Consultado em 23 de janeiro de 2020, citado no Wikipedia

SARS - Wikipédia: "A SARS [doença do vírus SARS-CoV] foi detectada pela primeira vez no fim de 2002 na China. Entre 2002 e 2003, um surto da doença resultou em mais de 8 000 casos e cerca de 800 mortes em todo o mundo."

2010 - Fundação Rockfeller, Lockstep. https://www.rockefellerfoundation.org/wp-content/uploads/Annual-Report-2010-1.pdf

Neste PDF da fundação Rockfeller, em seu próprio site, a fundação deixou claro o seu envolvimento em casos de ‘contenção’ de pandemias juntamente com a USAID (agência americana com nome ambíguo, como formalmente ‘United States Agency for International Development’, mas soando como ‘US Socorre’, mas sendo um braço do governo democrata que financiava interferências políticas diretas em vários países, como em intervenções no Brasil ), inclusive em relacionadas ao SARS, o mesmo sintoma dos coronavírus Sars-Cov e Sars-Cov-2 (o vírus propagado em 2019) e que causa o COVID-19.

Segundo eles:

“Integração entre Regiões e Países

A Fundação Rockefeler investiu US$ 22 milhões em sua Iniciativa de Redes de Vigilância de Doenças para ajudar a conter a disseminação de doenças infecciosas e pandemias, fortalecendo os sistemas nacionais, regionais e globais de vigilância e resposta a doenças. Dois programas-chave da Rockefeler — a Rede de Vigilância de Doenças da Bacia do Mekong e a Rede Integrada de Vigilância de Doenças da África Oriental — conectaram e capacitaram profissionais de saúde, epidemiologistas e autoridades de saúde pública em toda a região, levando a um aumento de seis vezes nos locais de vigilância de doenças transfronteiriças somente nos últimos três anos. Em 2010, a Rockefeler expandiu a bem-sucedida campanha transdisciplinar One Health, que a USAID e o Banco Asiático de Desenvolvimento adotaram como modelos. One Health refere-se à integração da ciência médica e veterinária para combater essas novas variedades de doenças zoonóticas que se movem e sofrem mutações rapidamente de animais para humanos. Essas colaborações criaram e fortaleceram uma rede regional crítica de saúde pública, enquanto as lições aprendidas foram exportadas entre disciplinas e países. Além de fortalecer os laços globais em saúde pública, a Rockefeler ajudou a elevar o nível de especialização e treinamento em campo. O Programa de Treinamento em Epidemiologia de Campo coloca graduados nos mais altos escalões do governo no Laos e no Vietnã, enquanto as bolsas da Rockefeler transformaram as ferramentas disponíveis para os médicos, permitindo-lhes utilizar o poder da internet para se comunicar e monitorar eventos, compreender contextos locais e analisar novos problemas. Finalmente, estamos aplicando ferramentas do século XXI para combater os desafios de saúde do século XXI.”

Julho de 2012 - Revista Mundo Estranho - Epidemias Citado em: https://super.abril.com.br/especiais/epidemia-o-risco-invisivel/

Página do site ME salva em Imagem no Voidcat

Houve uma ‘coincidência’, a revista Mundo Estranho em julho de 2012, entrevistou o até então doutorando em virologia, Átila Iamarino (do canal Nerdologia no Youtube - O mesmo cientista que fez diversas propagandas das vacinas no Brasil), para descrever um possível cenário de propagação de uma epidemia viral, a revista descreve com grande precisão os eventos de 2020, mas apontando o oposto da China, em que, na realidade, sua economia cresceu vertiginosamente.

Segundo eles:

“ 1 – A Ásia é o ponto de partida. Após várias mutações, um novo vírus surge hospedado em morcegos. As fezes que eles soltam no ar infectam guaxinins. Dos mercados da China, esses animais são levados vivos para serem abatidos em restaurantes. Estressados, eles arranham e mordem os cozinheiros, espalhando o vírus.

2 – O vírus adquire a capacidade de ser transmitido de homem para homem por via aérea – forma mais fácil de contágio. Além disso, o contágio se dá antes mesmo de o enfermo apresentar os sintomas. Assim, em média, o doente infecta cinco pessoas antes de ter febre, vômito, diarreia, desidratação e falta de ar.

3 – O governo chinês envia uma comissão para avaliar a doença misteriosa que acomete alguns vilarejos. A equipe volta sem resultados e não considera o surto alarmante até que três pesquisadores adoecem e um deles morre. A China não informa a Organização Mundial da Saúde (OMS) para não demonstrar fragilidade.

4 – Os sintomas são comuns e a doença só chama a atenção quando muita gente começa a morrer na mesma região. Ainda assim, demora para que médicos e enfermeiros percebam a ineficiência de antibióticos na cura – o que exclui a maioria das bactérias como agente causador. Testes com vírus comuns também dão negativo.

5 – O governo isola comunidades em que há focos da doença. Ninguém entra nas cidades e nenhum doente pode sair. Mas, como a misteriosa enfermidade demora quatro dias para mostrar seus sintomas, muitos doentes saem dos vilarejos sem saber que estão infectados, alastrando a epidemia.

6 – Doentes viajam de avião para grandes cidades, como Hong Kong. O fervilhante centro comercial, que atrai gente do mundo todo, é um polo de contágio e disseminação. Sem imaginar o risco que correm, pessoas são contaminadas e, ao voltar para seu local de origem, carregam o vírus para todos os continentes.

7 – Com a doença já fora de controle, começa uma corrida entre laboratórios e cientistas de grandes universidades para descobrir o agente causador. Mesmo com o vírus isolado, as vacinas demoram para ser feitas em larga escala, tornando impossível o atendimento à demanda mundial.

8 – Os países se isolam, mantendo esquemas de quarentena. Aeroportos são fechados e o turismo mundial cai a quase zero. A China sofre as piores consequências, com o fluxo de empresários para Hong Kong suspenso – gerando prejuízos de bilhões de dólares – e com o boicote a produtos alimentícios vindos da Ásia.

9 – Além dos 10% de casos letais, os milhões de doentes precisam de atendimento médico. Enquanto hospitais e cemitérios estão lotados, escolas, indústrias e comércio ficam paralisados por falta de profissionais. O transporte público também para e os trabalhadores que podem passam a trabalhar em casa.

10 – Nas nações pobres, quase 20% da população morre – e outros milhões são vitimados mesmo em países ricos. Parte dessa mortalidade ocorre por causa da doença, mas outro fator determinante é a crise financeira global. A produção de alimentos cai por falta de mão de obra.

Fontes: A História e Suas Epidemias e Pandemias – A Humanidade em Risco, de Stefan Cunha Ujvari; Pragas e Epidemias – Histórias de Doenças Infecciosas, de Antonio Carlos de Castro Toledo Jr. Consultoria: Stefan Ujvari Cunha, infectologista do Hospital Alemão Oswaldo Cruz; Paolo Zanotto, professor de virologia do Instituto de Ciências Biológicas (ICB) da USP; Átila Iamarino, doutorando em HIV-1 no ICB da USP. “

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3. PRIMEIROS INDÍCIOS

10/2019 - Evento 201 - Durante os Jogos Militares Internacionais na China https://www.centerforhealthsecurity.org/event201/

Promovido por: - Bill & Melinda Gates Foundation - John Hopkins Institute - Fórum econômico mundial

"O evento simula a liberação de um coronavírus novo do tipo zoonótico transmitido por morcegos para porcos e por fim para humanos. Eventualmente ele se torna muito transmissível entre humanos levando a uma pandemia severa. O vírus é muito parecido com o vírus da SARS, mas se transmite muito mais facilmente entre pessoas devido a sintomas muito mais leves destas."

Também mencionado por: Jornal Estadão

Sobre o "Movimento antivacina"

05/12/2017 - Movimento antivacina: como surgiu e quais consequências ele pode trazer? https://www.uol.com.br/universa/noticias/redacao/2017/12/05/o-que-o-movimento-antivacina-pode-causar.htm?cmpid=copiaecola

23/03/2019 - "Instagram bloqueia hashtags e conteúdo antivacinação" https://canaltech.com.br/redes-sociais/instagram-bloqueia-hashtags-e-conteudo-antivacinacao-135411/

23/05/2021 - Novos dados sobre pesquisadores de Wuhan aumentam debate sobre origens da Covid https://www.cnnbrasil.com.br/saude/novos-dados-sobre-pesquisadores-de-wuhan-aumentam-debate-sobre-origens-da-covid/

"A China relatou à Organização Mundial da Saúde que o primeiro paciente com sintomas semelhantes aos de Covid-19 foi registrado em Wuhan em 8 de dezembro de 2019"

01/02/2020 - O que aconteceu desde que o novo coronavírus foi descoberto na China https://exame.com/ciencia/o-que-aconteceu-desde-que-o-novo-coronavirus-foi-descoberto-na-china/

"O primeiro alerta foi recebido pela Organização Mundial da Saúde (OMS) em 31 de dezembro de 2019"

15/09/2020 - YouTube diz que vai remover vídeos com mentiras sobre vacina contra COVID-19 https://gizmodo.uol.com.br/youtube-remover-videos-mentiras-vacina-covid-19/

"O YouTube anunciou na quarta-feira (14) que estenderá as regras atuais sobre mentiras, propaganda e teorias da conspiração sobre a pandemia do coronavírus para incluir desinformação sobre as vacinas contra a doença.

De acordo com a Reuters, a gigante do vídeo diz que agora vai proibir conteúdos sobre vacinas contra o coronavírus que contradizem “o consenso de especialistas das autoridades de saúde locais ou da OMS”, como afirmações falsas de que a vacina é um pretexto para colocar chips de rastreamento nas pessoas ou que irá matar ou esterilizar quem tomar."

*07/01/2021 - YouTube vai punir canais que promovem mentiras sobre eleições – incluindo os de Trump https://olhardigital.com.br/2021/01/07/noticias/youtube-vai-punir-canais-que-promovem-mentiras-sobre-eleicoes-incluindo-os-de-trump/

"O YouTube anunciou que vai punir canais que promovem mentiras sobre as eleições, removendo sumariamente qualquer vídeo que contenha desinformação e, ao mesmo tempo, advertindo com um “strike” o canal que o veicular. A medida já está valendo e a primeira “vítima” é ninguém menos que o ex-presidente americano, Donald Trump.

A medida não é exatamente nova, mas foi novamente comunicada e reforçada pelo YouTube na quarta-feira (6), após os eventos de invasão do Capitólio, em Washington, onde o presidente eleito Joe Biden participava da cerimônia que confirmava a sua vitória nas eleições de novembro de 2020. A ocasião ficou marcada pela tentativa de invasão de correligionários de Trump, que entraram no edifício em oposição à nomeação do novo presidente. Uma mulher acabou sendo morta pela polícia que protegia o local.

O ex-presidente Donald Trump teve vídeos banidos de seu canal no YouTube após os eventos de ontem (6) no capitólio."

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4. FIGURAS CENTRAIS

Bill Gates

• Bill Gates diz 'não' a abrir patentes de vacinas https://www.frontliner.com.br/bill-gates-diz-nao-a-abrir-patentes-de-vacinas/

"Bill Gates, um dos homens mais ricos do mundo, cuja fundação tem participação na farmacêutica alemã CureVac, produtora de vacina mRNA para prevenção de covid-19, disse não acreditar que a propriedade intelectual tenha algo a ver com o longo esforço global para controlar a pandemia."

João Doria - Governo de São Paulo

26/07/2017 - João Dória vai a China conhecer drones para ampliar segurança eletrônica na capital paulista https://jc.ne10.uol.com.br/blogs/jamildo/2017/07/26/joao-doria-vai-china-conhecer-drones-para-ampliar-seguranca-eletronica-na-capital-paulista/

02/08/2019 - Governo de SP fará Missão China para ampliar cooperação e atrair investimentos https://www.saopaulo.sp.gov.br/spnoticias/governo-de-sao-paulo-detalha-objetivos-da-missao-china/

20/11/2019 - Doria se encontra com chineses das gigantes CREC e CRCC e oferece concessões de rodovia, metrô e ferrovia https://diariodotransporte.com.br/2019/11/20/doria-se-encontra-com-chineses-das-gigantes-crec-e-crcc-e-oferece-concessoes-de-rodovia-metro-e-ferrovia/

25/01/2020 - "Chineses serão agressivos" nas privatizações em SP até 2022, afirma Dória https://noticias.uol.com.br/colunas/jamil-chade/2020/01/25/entrevista-joao-doria-privatizacoes-sao-paulo-china.htm

O governador de São Paulo, João Doria, afirma que vai acelerar os programas de desestatização no estado em 2020 e acredita que concessões e vendas poderão permitir uma arrecadação de pelo menos R$ 40 bilhões. Nesse processo, o governador avalia que a China deve atuar de forma agressiva e que aprofundará sua posição de maior parceira comercial do estado, se distanciando de americanos e argentinos.

29/06/2020 - Doria estabelece multa para quem estiver sem máscara na rua em SP https://veja.abril.com.br/saude/doria-estabelece-multa-para-quem-estiver-sem-mascara-na-rua/

24/12/2020 - Doria é flagrado sem máscara e fazendo compras em Miami https://pleno.news/brasil/politica-nacional/doria-e-flagrado-sem-mascara-e-fazendo-compras-em-miami.html

"Foto do governador de São Paulo sem o item de proteção viralizou nas redes"

07/06/2021 - Doria é criticado na internet por tomar sol sem máscara em hotel no Rio https://vejasp.abril.com.br/cidades/doria-e-criticado-na-internet-por-tomar-sol-sem-mascara-em-hotel-no-rio/

30/09/2020 - Governo de SP assina contrato com Sinovac e prevê vacina para dezembro https://agenciabrasil.ebc.com.br/saude/noticia/2020-09/governo-de-sp-assina-contrato-com-sinovac-e-preve-vacina-para-dezembro

O governador de São Paulo, João Doria, e o vice-presidente da laboratório chinês Sinovac, Weining Meng, assinaram hoje (30), um contrato que prevê o fornecimento de 46 milhões de doses da vacina CoronaVac para o governo paulista até dezembro deste ano.

O contrato também prevê a transferência tecnológica da vacina da Sinovac para o Instituto Butantan, o que significa que, o instituto brasileiro poderá começar a fabricar doses dessa vacina contra o novo coronavírus. O valor do contrato, segundo o governador João Doria é de US$ 90 milhões.

20/10/2020 - Coronavac terá mais de 90% de eficácia, afirmam integrantes do governo paulista https://www.cnnbrasil.com.br/saude/2020/12/20/coronavac-tera-mais-de-90-de-eficacia-afirmam-integrantes-do-governo

24/10/2020 - Não esperamos 90% de eficácia da Coronavac’, diz secretário de saúde de SP https://www.cnnbrasil.com.br/saude/2020/12/24/nao-esperamos-90-de-eficacia-da-coronavac-diz-secretario-de-saude-de-sp

07/01/2021 - Vacina do Butantan: eficácia é de 78% em casos leves e 100% em graves https://www.cnnbrasil.com.br/saude/2021/01/07/vacina-do-butantan-eficacia-e-de-78-em-casos-leves-e-100-em-graves

09/01/2021 - Não é hora de sermos tão cientistas como estamos sendo agora https://g1.globo.com/sp/sao-paulo/video/nao-e-hora-de-sermos-tao-cientistas-como-estamos-sendo-agora-diz-secretario-de-saude-de-sp-9166405.ghtml

10/01/2021 - Dados da Coronavac relatados à Anvisa não estão claros, diz médico https://www.cnnbrasil.com.br/saude/2021/01/10/dados-da-coronavac-relatados-a-anvisa-nao-estao-claros-diz-medico

"O diretor do Laboratório de Imunologia do Incor, Jorge Kalil, reforçou que faltaram informações sobre a Coronavac nos dados divulgados à Anvisa"

12/01/2021 - New Brazil data shows disappointing 50,4% efficacy for China’s Coronavac vaccine [Novos dados do Brasil mostram eficácia decepcionante de 50,4% para a vacina CoronaVac da China] https://www.reuters.com/article/us-health-coronavirus-brazil-coronavirus/new-brazil-data-shows-disappointing-504-efficacy-for-chinas-coronavac-vaccine-idUSKBN29H2CE

13/01/2021 - Eficácia da Coronavac: 50,38%, 78% ou 100%? https://blogs.oglobo.globo.com/lauro-jardim/post/5038-78-ou-100.html

“De acordo com interlocutores que participaram tanto do anúncio de ontem como da semana passada, quem pressionou para que os dados de 78% e 100% fossem liberados foi João Dória.”

07/05/2021 - Covid-19: Doria toma primeira dose da vacina CoronaVac https://veja.abril.com.br/saude/covid-19-doria-toma-primeira-dose-da-vacina-coronavac/

04/06/2021 - Doria é vacinado com a segunda dose da CoronaVac em São Paulo https://noticias.uol.com.br/politica/ultimas-noticias/2021/06/04/doria-e-vacinado-com-a-segunda-dose-da-coronavac-em-sao-paulo.htm

15/07/2021 - Doria testa positivo para a Covid-19 pela 2ª vez https://www.correiobraziliense.com.br/politica/2021/07/4937833-doria-testa-positivo-para-covid-19-pela-segunda-vez.html

"Governador de São Paulo já havia sido diagnosticado com a doença no ano passado. Ele diz que, apesar da infecção, se sente bem, o que atribui ao fato de ter sido vacinado com duas doses da Coronavac"

06/08/2021 - CPI recebe investigação contra Doria por compra de máscara sem licitação https://www.conexaopoder.com.br/nacional/cpi-recebe-investigacao-contra-doria-por-compra-de-mascara-sem-licitacao/150827

"Empresa teria usado o nome de Alexandre Frota para vender máscaras ao governo de SP. Doria nega informação"

Renan Filho

(filho do Renan Calheiros)

25/07/2019 - Governador Renan Filho vai à China em busca de investimentos para o estado https://www.tnh1.com.br/videos/vid/governador-renan-filho-vai-a-china-em-busca-de-investimentos-para-o-estado/

20/03/2020 - Governadores do NE consultam China e pedem material para tratar covid-19 https://noticias.uol.com.br/saude/ultimas-noticias/redacao/2020/03/20/governadores-do-ne-consultam-china-e-pedem-material-para-tratar-covid-19.htm

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5. Narrativas, restrições e proibições

17/12/2020 - STF decide que vacina contra a covid pode ser obrigatória, mas não forçada https://noticias.uol.com.br/saude/ultimas-noticias/redacao/2020/12/17/stf-julga-vacinacao-obrigatoria.htm?cmpid=copiaecola

"O STF (Supremo Tribunal Federal) decidiu, em julgamento hoje, que o Estado pode determinar a obrigatoriedade da vacinação contra a covid-19. Porém fica proibido o uso da força para exigir a vacinação, ainda que possam ser aplicadas restrições a direitos de quem recusar a imunização.

Dez ministros foram favoráveis a obrigatoriedade da vacinação, que poderá ser determinada pelo governo federal, estados ou municípios. As penalidades a quem não cumprir a obrigação deverão ser definidas em lei."

27/07/2021 - Saiba que países estão adotando 'passaporte da vacina' para suspender restrições https://www.cnnbrasil.com.br/internacional/2021/07/27/saiba-que-paises-estao-adotando-passaporte-da-vacina-para-suspender-restricoes

" - Israel - Uniao Europeia - Áustria - Dinamarca - Eslovênia - França - Grécia - Irlanda - Itália - Letônia - Lituânia - Luxemburgo - Holanda - Portugal - Japão - Coreia do sul"

18/06/2021 - O que é o passaporte da vacina que Bolsonaro quer vetar? https://noticias.uol.com.br/politica/ultimas-noticias/2021/06/18/uol-explica-o-que-e-o-passaporte-da-vacina-que-opoe-bolsonaro-e-damares.htm

"O Brasil poderá ter um certificado de imunização futuramente. Aprovado no Senado na semana passada, o "passaporte da vacina", como é chamado, prevê identificar pessoas vacinadas para que entrem em locais públicos ou privados com possíveis restrições."

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6. Vacinas

Alegações iniciais

• CoronaVac, Oxford e Pfizer: veja diferenças entre as vacinas contra covid noticias.uol.com.br/saude/ultimas-noticias/redacao/2021/05/11/diferencas-vacinas-covid-brasil.htm

" - CoronaVac (Butantan/Sinovac - Chinesa) Com virus inativo 50,38% de eficácia 2 doses

• Covishield - 'AstraZeneca' (Fiocruz/Astrazenica/Oxford - Britânica) Com virus não replicante 67% de eficácia 2 doses

• ComiRNAty - 'Pfizer' (Pfizer - Americana / BioNTech - Alemã) Com RNA mensageiro 96% de eficácia 2 doses"

Riscos diretos

15/06/2021 - Trombose após vacinação com AstraZeneca: Quais os sintomas e como se deve atuar? https://www.istoedinheiro.com.br/trombose-apos-vacinacao-com-astrazeneca-quais-os-sintomas-e-como-se-deve-atuar/

"Agências europeias estão reticentes com a vacina da AstraZeneca. Ela chegou a ser desaconselhada a pessoas com idade inferior a 60 anos, e um alto funcionário da Agência Europeia de Medicamentos declarou que era melhor deixar de administrar a vacina deste laboratório em qualquer idade quando há alternativas disponíveis, devido aos relatos de trombose após a primeira dose, apesar de raros."

11/05/2021 - CoronaVac, Oxford e Pfizer: veja diferenças entre as vacinas contra covid https://noticias.uol.com.br/saude/ultimas-noticias/redacao/2021/05/11/diferencas-vacinas-covid-brasil.htm

"Na terça-feira (12), o Ministério da Saúde determinou a suspensão da aplicação da vacina de Oxford/AstraZeneca para gestantes e puérperas com comorbidades. A decisão segue recomendação da Anvisa, que apura a morte de uma grávida de 35 anos que tomou o imunizante e teve um AVC (acidente vascular cerebral)."

30/07/2021 - Pfizer representa o mesmo risco de trombose que a Astrazeneca, aponta levantamento https://panoramafarmaceutico.com.br/pfizer-representa-o-mesmo-risco-de-trombose-que-a-astrazeneca-aponta-levantamento/

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7. CRIMES

Crimes da Pfizer

18/11/2020 Não listado no google - Os Crimes documentados da produtora de vacinas de Covid - Pfizer [INGLÊS] https://www.dmlawfirm.com/crimes-of-covid-vaccine-maker-pfizer-well-documented/

"A velocidade com que a vacina Covid da Pfizer foi produzida, a ausência de estudos em animais, testes de controle randomizados e outros testes e procedimentos padrão usuais para um novo medicamento são, no mínimo, preocupantes. Além disso, todos os fabricantes de vacinas Covid receberam imunidade legal para quaisquer ferimentos ou mortes que possam causar. Se essas vacinas são tão seguras quanto promovidas, por que seus fabricantes precisam de imunidade geral?"

"A Pfizer, uma empresa farmacêutica que parece ter ganhado na loteria para produzir a primeira vacina Covid-19, está atualmente lutando contra centenas de ações judiciais sobre o Zantac, um popular medicamento contra azia. Os processos da Zantac afirmam que a droga popular pode estar contaminada com uma substância cancerígena chamada N-nitrosodimetilamina (NDMA). Os processos Zantac são em aberto e em andamento, já que a farmacêutica está lutando contra eles; mas a Pfizer, sabemos, cometeu vários crimes ou transgressões pelos quais foi punida nos últimos anos. As falhas da empresa estão bem documentadas e vale a pena revisá-las neste momento crítico da história da humanidade, enquanto todos nós buscamos respostas."

A Pfizer recebeu a maior multa da história dos Estados Unidos como parte de um acordo judicial de US $ 2,3 bilhões com promotores federais por promover medicamentos erroneamente (Bextra, Celebrex) e pagar propinas a médicos complacentes. A Pfizer se confessou culpada de falsificar a marca do analgésico Bextra, promovendo o medicamento para usos para os quais não foi aprovado.

Na década de 1990, a Pfizer estava envolvida em válvulas cardíacas defeituosas que causaram a morte de mais de 100 pessoas. A Pfizer enganou deliberadamente os reguladores sobre os perigos. A empresa concordou em pagar US $ 10,75 milhões para acertar as acusações do departamento de justiça por enganar reguladores.

A Pfizer pagou mais de US $ 60 milhões para resolver um processo sobre o Rezulin, um medicamento para diabetes que causou a morte de pacientes de insuficiência hepática aguda.

No Reino Unido, a Pfizer foi multada em quase € 90 milhões por sobrecarregar o NHS, o Serviço Nacional de Saúde. A Pfizer cobrou do contribuinte um adicional de € 48 milhões por ano, pelo que deveria custar € 2 milhões por ano.

A Pfizer concordou em pagar US $ 430 milhões em 2004 para resolver acusações criminais de que havia subornado médicos para prescrever seu medicamento para epilepsia Neurontin para indicações para as quais não foi aprovado. Em 2011, um júri concluiu que a Pfizer cometeu fraude em sua comercialização do medicamento Neurontin. A Pfizer concordou em pagar $ 142,1 milhões para liquidar as despesas.

A Pfizer revelou que pagou quase 4.500 médicos e outros profissionais médicos cerca de US $ 20 milhões por falar em nome da Pfizer.

Em 2012, a Comissão de Valores Mobiliários dos Estados Unidos - anunciou que havia chegado a um acordo de US $ 45 milhões com a Pfizer para resolver acusações de que suas subsidiárias haviam subornado médicos e outros profissionais de saúde no exterior para aumentar as vendas no exterior.

A Pfizer foi processada em um tribunal federal dos Estados Unidos por usar crianças nigerianas como cobaias humanas, sem o consentimento dos pais das crianças. A Pfizer pagou US $ 75 milhões para entrar em acordo no tribunal nigeriano pelo uso de um antibiótico experimental, o Trovan, nas crianças. A empresa pagou um valor adicional não divulgado nos Estados Unidos para liquidar as despesas aqui. A Pfizer violou o direito internacional, incluindo a Convenção de Nuremberg estabelecida após a Segunda Guerra Mundial, devido aos experimentos nazistas em prisioneiros relutantes.

Em meio a críticas generalizadas de roubar os países pobres em busca de drogas, a Pfizer prometeu dar US $ 50 milhões para um medicamento para a AIDS para a África do Sul. Mais tarde, no entanto, a Pfizer falhou em honrar essa promessa.

• Pfizer contract leaked! [Contrato da Pfizer vazado] http://sanjeev.sabhlokcity.com/Misc/LEXO-KONTRATEN-E-PLOTE.pdf

Segundo o contrato "o produto não deve ser serializado":

"5.5 Reconhecimento do comprador.

O Comprador reconhece que a Vacina e os materiais relacionados à Vacina, e seus componentes e materiais constituintes estão sendo desenvolvidos rapidamente devido às circunstâncias de emergência da pandemia de COVID-19 e continuarão a ser estudados após o fornecimento da Vacina ao Comprador nos termos deste Contrato. O Comprador reconhece ainda que os efeitos de longo prazo e eficácia da Vacina não são atualmente conhecidos e que pode haver efeitos adversos da Vacina que não são atualmente conhecidos. Além disso, na medida do aplicável, o Comprador reconhece que o Produto não deve ser serializado."

Crimes da AstraZeneca

21/06/2003 - AstraZeneca se declara culpada no esquema de médico de câncer https://www.nytimes.com/2003/06/21/business/astrazeneca-pleads-guilty-in-cancer-medicine-scheme.html

"A AstraZeneca, a grande empresa farmacêutica, se declarou culpada hoje de uma acusação de crime de fraude no sistema de saúde e concordou em pagar $ 355 milhões para resolver as acusações criminais e civis de que se envolveu em um esquema nacional para comercializar ilegalmente um medicamento contra o câncer de próstata.

O governo disse que os funcionários da empresa deram incentivos financeiros ilegais a cerca de 400 médicos em todo o país para persuadi-los a prescrever o medicamento Zoladex. Esses incentivos incluíram milhares de amostras grátis de Zoladex [...]"

27/04/2010 - Farmacêutica gigante AstraZeneca pagará US $ 520 milhões pelo marketing de medicamentos off-label https://www.justice.gov/opa/pr/pharmaceutical-giant-astrazeneca-pay-520-million-label-drug-marketing

"AstraZeneca LP e AstraZeneca Pharmaceuticals LP vão pagar $ 520 milhões para resolver as alegações de que a AstraZeneca comercializou ilegalmente o medicamento antipsicótico Seroquel para usos não aprovados como seguros e eficazes pela Food and Drug Administration (FDA), os Departamentos de Justiça e Saúde e Serviços Humanos A Equipe de Ação de Fiscalização de Fraudes em Saúde (HEAT) anunciou hoje. Esses usos não aprovados também são conhecidos como usos "off-label" porque não estão incluídos no rótulo do medicamento aprovado pela FDA."

• List of largest pharmaceutical settlements [Lista dos maiores acordos farmaceuticos] https://en.m.wikipedia.org/wiki/List_of_largest_pharmaceutical_settlements

---

8. CIENTISTAS

• Máscara Provoca Insuficiência Respiratória E Contaminação Microbiana… [Canal deletado] https://youtube.com/watch?v=eHu-pydSvDI

Não lembro mais a quem pertencia, mas provavelmente era de um médico falando do assunto. Creio ter sido do Dr. Paulo Sato, por essa temática ter sido abordada por ele, mas ao abrir o site aparece somente:

"Este vídeo foi removido por violar as diretrizes da comunidade do YouTube"

Dr. Paulo Sato

• USAR ou NÃO USAR a CUECA do seu governador no rosto https://fb.watch/7NPP_7rS5S/ https://www.facebook.com/AdoniasSoaresBR/videos/1347904292291481/ Adonias Soares entrevista ao Dr. Paulo Sato sobre as máscaras, em que é simulado o efeito da respiração prolongada das máscaras no organismo com o uso de águas de torneira, natural, gaseificada (com gás carbônico) e antioxidante, em que a com gás carbônico (PH 4 - Ácido) representa o organismo humano, e na prática representa lesão corporal e iniciação de doenças.

Dr. Kary Mullis

(Criador do teste PCR)

• PCR nas palavras do seu inventor - Dr. Kary Mullis (legendado) https://www.youtube.com/watch?v=W1O52uTygk8

"Qualquer um pode testar positivo para quase qualquer coisa com um teste de PCR, se você executá-lo por tempo suficiente… Com PCR, se voce fizer isso bem, você pode encontrar quase tudo em qualquer pessoa… Isso não te diz que você está doente."

• Kary Mullis DESTRUYE a Anthony Fauci lbry://@CapitalistChile#0/Kary-Mullis---Fauci#5

"Ele [...] não entende de medicina e não deveria estar onde está. A maioria dos que estão acima são só administrativos e não têm nem ideia do que ocorre aqui em baixo e essas pessoas tem uma agenda que não é a que gostaríamos que tivessem, dado que somos nós os que pagamos a eles para que cuidem da nossa saúde. Têm uma agenda pessoal."

Dra. Li-Meng Yan

• Dra. Li-Meng Yan: O vírus foi criado em laboratório com um objetivo: Causar dano. https://youtu.be/pSXp3CZnvOc

Dr. Joe Roseman

• Cientista Phd Dr Joe Roseman faz seríssimas advertencias sobre a picada https://youtu.be/0PIXVFqJ_h8

Dr. Robert Malone

• As vacinas podem estar causando ADE - Dr. Robert Malone https://odysee.com/@AkashaComunidad:f/Las_vacunas_pueden_estar_causando_ADE_magnificaci%C3%B3n_mediada_por:f lbry://@Información.#b/Drrm#9

Dr. Robert Malone, um dos três inventores da tecnologia de RNAm que se usa de forma farmacêutica. No vídeo fala sobre os efeitos de ADE (realce dependente de anticorpos) que estão ocorrendo com as vacinas. Nas palavras do Dr. Malone, já não é somente uma hipótese, mas baseada nos conhecimentos gerados nas provas e ensaios pré clínicos, com as vacinas contra o primeiro vírus da SARS.

Dr. Luc Montagnier

• Dr. Luc Montagnier, virologista, prêmio Nobel de medicina, um dos descobridores do vírus HIV, afirma: "a vacinação em massa está criando as novas variantes' (@medicospelavida , telegram)

CASOS DOCUMENTADOS

13/09/2021 - 13 de setembro de 2021 - Carta aberta ao Ministro da Saúde por Arlene Ferrari Graf, mãe de Bruno Oscar Graf https://telegra.ph/Carta-aberta-ao-Ministro-da-Sa%C3%BAde-09-13

Também em: Gazeta do Povo

O texto de uma mãe discorrendo sobre o filho dela, Bruno Oscar Graf, ter ANTI-HEPARINA PF4 AUTO-IMUNE e ter vindo a falecer por reação à vacina.

11/05/2021 - Rio notifica morte de grávida vacinada com imunizante Oxford https://www.terra.com.br/noticias/coronavirus/rio-notifica-morte-de-gravida-vacinada-com-imunizante-oxford,415b9b0c49169427ac2f90ae3765c057e9suy3qn.html

"Vítima não apresentava histórico de doença circulatória nem sofria de nenhuma doença viral; relação será investigada"

13/08/2021 - Cruzeiro com 4.336 pessoas tem 27 contaminados com Covid-19 em Belize https://paranaportal.uol.com.br/geral/cruzeiro-com-4-336-pessoas-tem-27-contaminados-com-covid-19-em-belize/amp/

"Segundo um comunicado do Conselho de Turismo de Belize emitido na quarta-feira (11), 26 contaminados são da tripulação e um é passageiro. A maioria é assintomática e os 27 estão vacinados."

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9. ALEGAÇÕES DIRETAS

09/2021 - Setembro de 2021 - BOMBA: Ex-membro do Partido Comunista da China revela que o primeiro surto da Covid foi “intencional” https://terrabrasilnoticias.com/2021/09/bomba-ex-membro-do-partido-comunista-da-china-revela-que-o-primeiro-surto-da-covid-foi-intencional/

01/03/2023 - 1 de Março de 2023 - O chefe do FBI, Christopher Wray, diz que vazamento de laboratório na China é muito provável https://www.bbc.com/news/world-us-canada-64806903

26/12/2024 - 26 de Dezembro 2024 - FBI ‘não tem permissão para informar Biden’ sobre a teoria de vazamento de laboratório da Covid https://www.thetimes.com/world/us-world/article/fbi-not-allowed-to-brief-biden-on-covid-lab-leak-theory-8df9mr997

O FBI concluiu com "confiança moderada" que a COVID-19 pode ter sido criada em laboratório, com base em parte na análise genômica conduzida por cientistas do Centro Nacional de Inteligência Médica.

@ 39cc53c9:27168656

Read the original blog post

“The future is there... staring back at us. Trying to make sense of the fiction we will have become.” — William Gibson.

This month is the 4th anniversary of kycnot.me. Thank you for being here.

Fifteen years ago, Satoshi Nakamoto introduced Bitcoin, a peer-to-peer electronic cash system: a decentralized currency free from government and institutional control. Nakamoto's whitepaper showed a vision for a financial system based on trustless transactions, secured by cryptography. Some time forward and KYC (Know Your Customer), AML (Anti-Money Laundering), and CTF (Counter-Terrorism Financing) regulations started to come into play.

What a paradox: to engage with a system designed for decentralization, privacy, and independence, we are forced to give away our personal details. Using Bitcoin in the economy requires revealing your identity, not just to the party you interact with, but also to third parties who must track and report the interaction. You are forced to give sensitive data to entities you don't, can't, and shouldn't trust. Information can never be kept 100% safe; there's always a risk. Information is power, who knows about you has control over you.

Information asymmetry creates imbalances of power. When entities have detailed knowledge about individuals, they can manipulate, influence, or exploit this information to their advantage. The accumulation of personal data by corporations and governments enables extensive surveillances.

Such practices, moreover, exclude individuals from traditional economic systems if their documentation doesn't meet arbitrary standards, reinforcing a dystopian divide. Small businesses are similarly burdened by the costs of implementing these regulations, hindering free market competition^1:

How will they keep this information safe? Why do they need my identity? Why do they force businesses to enforce such regulations? It's always for your safety, to protect you from the "bad". Your life is perpetually in danger: terrorists, money launderers, villains... so the government steps in to save us.

‟Hush now, baby, baby, don't you cry Mamma's gonna make all of your nightmares come true Mamma's gonna put all of her fears into you Mamma's gonna keep you right here, under her wing She won't let you fly, but she might let you sing Mamma's gonna keep baby cosy and warm” — Mother, Pink Floyd

We must resist any attack on our privacy and freedom. To do this, we must collaborate.

If you have a service, refuse to ask for KYC; find a way. Accept cryptocurrencies like Bitcoin and Monero. Commit to circular economies. Remove the need to go through the FIAT system. People need fiat money to use most services, but we can change that.

If you're a user, donate to and prefer using services that accept such currencies. Encourage your friends to accept cryptocurrencies as well. Boycott FIAT system to the greatest extent you possibly can.

This may sound utopian, but it can be achieved. This movement can't be stopped. Go kick the hornet's nest.

“We must defend our own privacy if we expect to have any. We must come together and create systems which allow anonymous transactions to take place. People have been defending their own privacy for centuries with whispers, darkness, envelopes, closed doors, secret handshakes, and couriers. The technologies of the past did not allow for strong privacy, but electronic technologies do.” — Eric Hughes, A Cypherpunk's Manifesto

The anniversary

Four years ago, I began exploring ways to use crypto without KYC. I bookmarked a few favorite services and thought sharing them to the world might be useful. That was the first version of kycnot.me — a simple list of about 15 services. Since then, I've added services, rewritten it three times, and improved it to what it is now.

kycnot.me has remained 100% independent and 100% open source^2 all these years. I've received offers to buy the site, all of which I have declined and will continue to decline. It has been DDoS attacked many times, but we made it through. I have also rewritten the whole site almost once per year (three times in four years).

The code and scoring algorithm are open source (contributions are welcome) and I can't arbitrarly change a service's score without adding or removing attributes, making any arbitrary alterations obvious if they were fake. You can even see the score summary for any service's score.

I'm a one-person team, dedicating my free time to this project. I hope to keep doing so for many more years. Again, thank you for being part of this.

@ 39cc53c9:27168656

Read the original blog post

After almost 3 months of work, we've completed the redesign of kycnot.me. More modern and with many new features.

Privacy remains the foundation - everything still works with JavaScript disabled. If you enable JS, you will get some nice-to-have features like lazy loading and smoother page transitions, but nothing essential requires it.

User Accounts

We've introduced user accounts that require zero personal information:

• Secret user tokens - no email, no phone number, no personal data
• Randomly generated usernames for default privacy and fairness
• Karma system that rewards contributions and unlocks features: custom display names, profile pictures, and more.

Reviews and Community Discussions

On the previous sites, I was using third party open source tools for the comments and discussions. This time, I've built my own from scratch, fully integrated into the site, without JavaScript requirements.

Everyone can share their experiences and help others make informed decisions:

• Ratings: Comments can have a 1-5 star rating attached. You can have one rating per service and it will affect the overall user score.
• Discussions: These are normal comments, you can add them on any listed service.

Comment Moderation

I was strugling to keep up with moderation on the old site. For this, we've implemented an AI-powered moderation system that:

• Auto-approves legitimate comments instantly
• Flags suspicious content for human review
• Keeps discussions valuable by minimizing spam

The AI still can mark comments for human review, but most comments will get approved automatically by this system. The AI also makes summaries of the comments to help you understand the overall sentiment of the community.

Powerful Search & Filtering

Finding exactly what you need is now easier:

• Advanced filtering system with many parameters. You can even filter by attributes to pinpoint services with specific features.

The results are dynamic and shuffle services with identical scores for fairness.

See all listings

Listings are now added as 'Community Contributed' by default. This means that you can still find them in the search results, but they will be clearly marked as such.

Updated Scoring System

New dual-score approach provides more nuanced service evaluations:

• Privacy Score: Measures how well a service protects your personal information and data

• Trust Score: Assesses reliability, security, and overall reputation

• Combined into a weighted Overall Score for quick comparisons

• Completely transparent and open source calculation algorithm. No manual tweaking or hidden factors.

AI-Powered Terms of Service Analysis

Basically, a TLDR summary for Terms of Service:

• Automated system extracts the most important points from complex ToS documents
• Clear summaries
• Updated monthly to catch any changes

The ToS document is hashed and only will be updated if there are any changes.

Service Events and Timelines

Track the complete history of any service, on each service page you can see the timeline of events. There are two types of events:

• Automatic events: Created by the system whenever something about a service changes, like its description, supported currencies, attributes, verification status…
• Manual events: Added by admins when there’s important news, such as a service going offline, being hacked, acquired, shut down, or other major updates.

There is also a global timeline view available at /events

Notification System

Since we now have user accounts, we built a notifiaction system so you can stay informed about anything:

• Notifications for comment replies and status changes
• Watch any comment to get notified for new replies.
• Subscribe to services to monitor events and updates
• Notification customization.

Coming soon: Third-party privacy-preserving notifications integration with Telegram, Ntfy.sh, webhooks...

Service Suggestions

Anyone with an account can suggest a new service via the suggestion form. After submitting, you'll receive a tracking page where you can follow the status of your suggestion and communicate directly with admins.

All new suggestions start as "unlisted" — they won't appear in search results until reviewed. Our team checks each submission to ensure it's not spam or inappropriate. If similar services already exist, you'll be shown possible duplicates and can choose to submit your suggestion as an edit instead.

You can always check the progress of your suggestion, respond to moderator questions, and see when it goes live, everything will also be notified to your account. This process ensures high-quality listings and a collaborative approach to building the directory.

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These are some of the main features we already have, but there are many more small changes and improvements that you will find when using the site.

What's Next?

This is just the beginning. We will be constantly working to improve KYCnot.me and add more features that help you preserve your privacy.

Remember: True financial freedom requires the right to privacy. Stay KYC-free!

@ 8bad92c3:ca714aa5

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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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...

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

President Trump’s Truth Social Files S-1 Form For Bitcoin ETF

Today, Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT) filed with the US Securities and Exchange Commission (SEC) a Form S-1 for their upcoming Truth Social Bitcoin ETF.

The ETF, which will hold bitcoin directly, is designed to track the bitcoin’s price performance. 

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

The ETF is sponsored by Yorkville America Digital, LLC and will trade under NYSE Arca. The Trust’s assets primarily consist of bitcoin held by Foris DAX Trust Company, LLC, the designated bitcoin custodian. Crypto.com will act as the ETF’s prime execution agent and liquidity provider.

“Shares will be offered to the public from time to time at varying prices that will reflect the price of bitcoin and the trading price of the Shares on New York Stock Exchange Arca, Inc. at the time of the offer,” mentioned the Form S-1.

While the ETF offers investors a regulated avenue for bitcoin exposure, the Trust warned of several risks related to digital assets:

• Loss, theft, or compromise of private keys could result in permanent loss of bitcoin.
• Bitcoin’s reliance on blockchain and Internet technologies makes it vulnerable to disruptions and cyber threats.
• Environmental and regulatory pressures tied to high electricity use in bitcoin mining could impact market stability.
• Potential forks or protocol failures in the Bitcoin Network may lead to volatility and uncertainty in asset value.

Last week, during an interview at the 2025 Bitcoin Conference, Donald Trump Jr. announced that TMTG and Truth Social were forming a Bitcoin treasury with $2.5 billion. “We’re seriously on crypto—we’re seriously on Bitcoin,” said Trump Jr. “We’re in three major deals. I believe we’re at the beginning of what will be the future of finance. And the opportunity is massive.”

The day after that interview, Eric Trump and Donald Trump Jr., joined by American Bitcoin Executive Chairman and Board Member Mike Ho, CEO Matt Prusak, and Altcoin Daily founder Aaron Arnold, discussed the future of Bitcoin.

“The whole system is broken and now all of the sudden you have crypto which solves all the problems,” commented Eric Trump. “It makes everything cheaper, it makes everything faster, it makes it safer, it makes it more transparent. It makes the whole system more functional.“

“Everybody wants Bitcoin. Everybody is buying Bitcoin,” Eric added.

This post President Trump’s Truth Social Files S-1 Form For Bitcoin ETF first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

@ 32e18276:5c68e245

Damus OpenSats Grant Q1 2025 Progress Report

This period of the Damus OpenSats grant has been productive, and encompasses the work our beta release of Notedeck. Since we sent our last report on January, this encompasses all the work after then.

Damus Notedeck

We released the Beta version of Notedeck, which has many new features:

Dave

We've added a new AI-powered nostr assistant, similar to Grok on X. We call him Dave.

Dave is integrated with tooling that allows it to query the local relay for posts and profiles:

Search

The beta release includes a fulltext search interface powered by nostrdb:

Zaps

You can now zap with NWC!

And More!

• GIFs!
• Add full screen images, add zoom & pan
• Introduce last note per pubkey feed (experimental)
• Allow multiple media uploads per selection
• Major Android improvements (still wip)
• Added notedeck app sidebar
• User Tagging
• Note truncation
• Local network note broadcast, broadcast notes to other notedeck notes while you're offline
• Mute list support (reading)
• Relay list support
• Ctrl-enter to send notes
• Added relay indexing (relay columns soon)
• Click hashtags to open hashtag timeline

Damus iOS

Work continued on the iOS side. While I was not directly involved in the work since the last report, I have been directing and managing its development.

What's new:

Coinos Wallet + Interface

We've partnered with coinos to enable a one-click, non-KYC lightning wallet!

We now have an NWC wallet interface, and we've re-enabled zaps as per the new appstore guidelines!

Now you can see all incoming and outgoing NWC transactions and start zapping right away.

Enhanced hellthread muting

Damus can now automatically mute hellthreads, instead of having to do that manually.

Drafts

We now locally persist note drafts so that they aren't lost on app restart!

Profile editing enhancements

We now have a profile picture editing tool so that profile pictures are optimized and optionally cropped

Conversations tab

We now have a conversations tab on user profiles, allowing you to see all of your past conversations with that person!

Enhanced push notifications

We've updated our push notifications to include profile pictures, and they are also now grouped by the thread that they came from.

And lots more!

Too many to list here, check out the full changelog

Nostrdb

nostrdb, the engine that powers notecrumbs, damus iOS, and notedeck, continued to improve:

Custom filters

We've added the ability to include custom filtering logic during any nostrdb query. Dave uses this to filter replies from kind1 results to keep the results small and to avoid doing post-processing.

Relay index + queries

There is a new relay index! Now when ingesting notes, you can include extra metadata such as where the note came from. You can use this index to quickly list all of the relays for a particular note, or for relay timelines.

NIP50 profile searches

To assist dave in searching for profiles, we added a new query plan for {kind:0, search:} queries to scan the profile search index.

How money was used

• relay.damus.io server costs
• Living expenses

Next quarter

We're making a strong push to get our Android version released, so that is the main focus for me.

@ 04c3c1a5:a94cf83d

schedule #1

@ 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.

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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

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Final thought...

I feel old.

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@ bf47c19e:c3d2573b

27.08.2014

Originalni tekst na fee.org / Autor: Džefri A. Taker

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Oni koji se koriste delom Mizesa da bi osporili Bitkoin trebalo bi ponovo da razmisle.

Mnogi ljudi koji nikada nisu koristili Bitkoin posmatraju ga sa zbunjenošću. Zašto ovaj magični internet novac uopšte ima bilo kakvu vrednost? To je samo nekakva kompjuterska stvar koju je neko izmislio.

Uzmite u obzir kritike zlatoljubaca, koji su decenijama gurali ideju da čvrst novac mora biti podržan nečim stvarnim, čvrstim i vrednim samim po sebi.

Bitkoin ne ispunjava te uslove, zar ne?

Možda ipak ispunjava. Pogledajmo detaljnije.

Bitkoin se prvi put pojavio pre skoro šest godina kao mogući konkurent nacionalnom novcu kojim upravlja država. Beli papir Satošija Nakamota objavljen je 31. oktobra 2008. godine. Struktura i jezik ovog rada poslali su poruku: Ova valuta je za kompjuterske tehničare, a ne za ekonomiste niti za političke komentatore. Domet ovog rada je bio ograničen; početnici koji su ga čitali bili su zbunjeni.

Ali nedostatak interesovanja nije sprečio istoriju da ide napred. Dva meseca kasnije, oni koji su obraćali pažnju videli su pojavu Genesis bloka, prve grupe Bitkoina generisanih putem Nakamotovog koncepta distribuirane knjige (distributed ledger) koja je postojala na bilo kom kompjuterskom čvoru na svetu koji je želeo da je hostuje.

Ovde smo šest godina kasnije, a jedan Bitkoin vredi 500 američkih dolara, dok je njegova najviša vrednost bila 1.200 dolara po novčiću. Ovu valutu prihvata na hiljade institucija, kako onlajn, tako i oflajn. Njen platni sistem je veoma popularan u siromašnim zemljama koje nemaju razvijenu bankarsku infrastrukturu, ali i u razvijenim zemljama. Velike institucije – uključujući Federalne rezerve, OECD, Svetsku banku i velike investicione kuće – posvećuju mu pažnju sa dužnim poštovanjem.

Entuzijasti, koji se nalaze u svakoj zemlji, kažu da će njegova tržišna vrednost u budućnosti rasti jer je njegova ponuda strogo ograničena i pruža sistem koji je znatno superiorniji od državnog novca. Bitkoin se prenosi između pojedinaca bez posrednika. Razmena je gotovo besplatna. Ima predvidivu ponudu. Trajan je, zamenljiv i deljiv: sve su to ključne karakteristike novca. Stvara monetarni sistem koji ne zavisi od poverenja i identiteta, a mnogo manje od centralnih banaka i države. To je novi sistem za digitalno doba.

Teške pouke o čvrstom novcu

Onima koji su obrazovani u tradiciji 'čvrstog novca', cela ideja je predstavljala ozbiljan izazov. Govoreći o sebi, čitao sam o Bitkoinu dve godine pre nego što sam makar približno uspeo da ga razumem. Jednostavno, nešto u celoj toj ideji mi je smetalo. Ne možete stvoriti novac ni iz čega, a kamoli iz kompjuterskog koda. Zašto onda ima vrednost? Mora da nešto nije kako treba. Nismo očekivali da će se novac tako reformisati.

Tu je i problem: naša očekivanja. Trebalo je da posvetimo više pažnje teoriji porekla novca Ludviga fon Mizesa — ne onome što mislimo da je on napisao, već onome što je on zaista napisao.

Godine 1912. Mizes je objavio delo "Teorija novca i kredita". Kada je objavljeno na nemačkom, postiglo je ogroman uspeh u Evropi i prevedeno je na engleski jezik. Iako je obuhvatilo svaki aspekt novca, njegov ključni doprinos bio je u praćenju vrednosti i cene novca — i ne samo novca — sve do njegovog porekla. To jest, objasnio je kako novac formira svoju cenu u smislu dobara i usluga koje se njime mogu nabaviti. Kasnije je ovaj proces nazvao "teoremom regresije novca" i ispostavilo se da Bitkoin zadovoljava sve uslove te teoreme.

Mizesov učitelj, Karl Menger, demonstrirao je da sam novac potiče sa tržišta – a ne od države i ne od društvenog ugovora. On se postepeno pojavljuje dok monetarni preduzetnici traže idealan oblik robe za indirektnu razmenu. Umesto da neposredno vrše trampu, ljudi pribavljaju neko dobro ne da bi ga konzumirali, već da bi ga razmenili. To dobro postaje novac, najtržišnije dobro.

Ali Mizes je dodao da se vrednost novca prati unazad kroz vreme sve do njegove vrednosti kao robe koja je služila za trampu. Mizes je smatrao da je to jedini način na koji novac može imati vrednost.

"Teorija vrednosti novca kao takvog može pratiti objektivnu tržišnu vrednost novca kroz vreme samo do tačke kada njegova vrednost prestaje da bude vrednost kao novca i postaje isključivo vrednost kao robe... Ako se na ovaj način neprestano vraćamo sve dalje unazad, na kraju moramo doći do tačke gde više ne nalazimo nijednu komponentu u objektivnoj tržišnoj vrednosti novca koja proističe iz vrednovanja zasnovanih na funkciji novca kao opšteg sredstva razmene; gde vrednost novca nije ništa drugo do vrednost predmeta koji je koristan na neki drugi način osim kao novac... Pre nego što je postalo uobičajeno nabavljati robu na tržištu, ne za ličnu potrošnju, već jednostavno radi ponovne razmene za robu za kojom zaista postoji potreba, svakoj pojedinačnoj robi pripisivana je samo ona vrednost data subjektivnim vrednovanjem zasnovanom na njenoj direktnoj korisnosti."

Mizesovo objašnjenje rešilo je veliki problem koji je dugo zbunjivao ekonomiste. Radi se o nagađajućem istorijskom narativu, a ipak ima savršenog smisla. Da li bi so postala novac da je inače bila potpuno beskorisna? Da li bi dabrovo krzno dobilo monetarnu vrednost da nije bilo korisno kao odeća? Da li bi srebro ili zlato imali novčanu vrednost da isprva nisu imali vrednost kao roba? Odgovor u svim slučajevima monetarne istorije je jasno ne. Početna vrednost novca, pre nego što postane široko razmenjivano kao novac, potiče iz njegove direktne korisnosti. To je objašnjenje koje je demonstrirano kroz istorijsku rekonstrukciju. To je Mizesova teorema regresije novca.

Upotrebna vrednost Bitkoina

Na prvi pogled, Bitkoin deluje kao izuzetak. Ne možete koristiti Bitkoin ni za šta drugo osim kao novac. Ne može se nositi kao nakit. Ne možete od njega napraviti mašinu. Ne možete ga jesti, pa čak ni koristiti ga kao dekoraciju. Njegova vrednost se ostvaruje samo kao jedinica koja olakšava indirektnu razmenu. Pa ipak, Bitkoin je već novac. Koristi se svakodnevno. Razmene možete videti u realnom vremenu. To nije mit. Ta stvar je stvarna.

Može izgledati kao da smo prinuđeni da biramo. Da li je Mizes pogrešio? Možda moramo odbaciti celu njegovu teoriju. Ili je možda njegova poenta bila isključivo istorijska i nije primenjiva na budućnost digitalnog doba. Ili je možda njegova teorema regresije dokaz da je Bitkoin samo prazna manija bez snage da potraje jer se ne može svesti na svoju vrednost kao korisna roba.

Pa ipak, ne morate se pozivati na komplikovane monetarne teorije da biste razumeli osećaj uzbune koji okružuje Bitkoin. Mnogi ljudi, kao i ja, jednostavno osećaju nelagodu u vezi sa novcem koji nema nikakvu fizičku osnovu. Naravno, možete odštampati Bitkoin na komadu papira, ali posedovanje papira sa QR kodom ili javnim ključem nije dovoljno da ublaži taj osećaj nelagode.

Kako da rešimo ovaj problem? U svojoj glavi, zabavljao sam se ovim pitanjem više od godinu dana. Zbunjivalo me je. Pitao sam se da li je Mizesovo shvatanje primenjivo samo u preddigitalnom dobu. Pratio sam onlajn spekulacije da bi vrednost Bitkoina bila nula, da nema nacionalnih valuta u koje se konvertuje. Možda je potražnja za Bitkoinom prevazišla zahteve Mizesovog scenarija zbog očajničke potrebe za nečim drugačijim od dolara.

Vreme prolazilo — i čitajući radove Konrada Grafa, Petera Šurde i Danijela Kraviša — rešenje je konačno samo stiglo. Preći ću odmah na stvar i otkriti ga: Bitkoin je i sistem plaćanja i novac. Sistem plaćanja je izvor vrednosti, dok obračunska jedinica samo izražava tu vrednost u smislu cene. Jedinstvo novca i plaćanja je njegova najneobičnija karakteristika i ona koju je većina komentatora imala poteškoća da shvati.

Navikli smo da razmišljamo o valuti kao o nečemu što je odvojeno od sistema plaćanja. Ovo razmišljanje je odraz istorijskih tehnoloških ograničenja. Postoji dolar i postoje kreditne kartice. Postoji evro i postoji PayPal. Postoji jen i postoje servisi za prenos novca. U svim ovim slučajevima, transfer novca se oslanja na pružaoce usluga koji predstavljaju treću stranu. Da biste ih koristili, potrebno je da uspostavite ono što se naziva „odnos poverenja“ (trust relationship) sa njima, što znači da institucija koja dogovara posao mora da vam veruje da ćete platiti.

Ovaj jaz između novca i plaćanja uvek je bio prisutan, osim u slučaju fizičke blizine. Ako ti dam dolar za parče pice, nema treće strane. Ali sistemi plaćanja, treće strane i odnosi poverenja postaju neophodni kada napustite geografsku blizinu. Tada kompanije poput Vise i institucije poput banaka postaju nezaobilazne. Oni su ta aplikacija koja omogućava monetarnom softveru da radi ono što želite.

Problem je u tome što sistemi plaćanja koje danas imamo nisu dostupni svakome. Zapravo, ogromna većina čovečanstva nema pristup takvim alatima, što je glavni razlog siromaštva u svetu. Oni koji su finansijski obespravljeni su ograničeni samo na lokalnu trgovinu i ne mogu proširiti svoje trgovinske odnose sa svetom.

Vodeći, ako ne i primarni, cilj nastanka Bitkoina bio je rešavanje ovog problema. Protokol je postavio sebi zadatak da poveže funkciju valute sa sistemom plaćanja. Te dve stvari su potpuno međusobno povezane u samoj strukturi koda. Ova veza je ono što čini Bitkoin drugačijim od bilo koje postojeće nacionalne valute i, zaista, bilo koje valute u istoriji.

Neka sam Nakamoto govori iz uvodnog sažetka svog belog papira. Zapazite koliko je platni sistem ključan za monetarni sistem koji je stvorio:

"Potpuna peer-to-peer verzija elektronskog novca omogućila bi slanje uplata putem interneta direktno od jedne strane ka drugoj bez posredovanja finansijskih institucija. Digitalni potpisi pružaju deo rešenja, ali se glavni benefiti gube ako je i dalje potrebna pouzdana treća strana za sprečavanje dvostruke potrošnje. Predlažemo rešenje problema dvostruke potrošnje korišćenjem peer-to-peer mreže. Mreža vremenski označava transakcije tako što ih hešuje u tekući lanac dokaza o radu (proof of work) temeljen na hešu, formirajući zapis koji se ne može promeniti bez ponovnog rada i objavljivanja dokaza o tom radu. Najduži lanac ne služi samo kao dokaz niza događaja, nego i kao dokaz da je taj niz događaja potvrđen od strane dela peer-to-peer mreže koja poseduju najveću zbirnu procesorsku snagu (CPU). Sve dok većinu procesorske snage kontrolišu čvorovi (nodes) koji ne sarađuju u napadu na mrežu, oni će generisati najduži lanac i nadmašiti napadače. Sama mreža zahteva minimalnu strukturu. Poruke kroz mrežu se prenose uz pretpostavku da svaki čvor čini maksimalan napor da poruku prenese u svom izvornom obliku i na optimalan način, a čvorovi mogu napustiti mrežu i ponovo joj se pridružiti po želji, prihvatajući najduži lanac dokaza o radu kao dokaz onoga što se dogodilo dok ih nije bilo."

Ono što je veoma upečatljivo u ovom paragrafu je da se uopšte ne spominje sama valuta. Spominje se samo problem dvostruke potrošnje (odnosno, problem inflatornog stvaranja novca). Inovacija ovde je, čak i prema rečima njenog pronalazača, platna mreža, a ne novčić. Novčić ili digitalna jedinica samo izražava vrednost mreže. To je računovodstveni alat koji apsorbuje i prenosi vrednost mreže kroz vreme i prostor.

Ova mreža se naziva blokčejn. To je knjiga transakcija koja živi u digitalnom oblaku, distribuirana mreža, i njeno funkcionisanje može da posmatra svako u bilo koje vreme. Pažljivo je nadgledaju svi korisnici. Omogućava prenos sigurnih i neponovljivih bitova informacija od jedne osobe do bilo koje druge osobe bilo gde u svetu, a ovi informacioni bitovi su zaštićeni digitalnim oblikom vlasništva. Ovo je ono što je Nakamoto nazvao „digitalnim potpisima“. Njegov izum knjige transakcija koja se nalazi na oblaku omogućava proveru vlasničkih prava bez oslanjanja na agenciju koja vrši ulogu treće strane od poverenja.

Blokčejn je rešio ono što je postalo poznato kao "problem vizantijskih generala". To je problem koordinacije akcija na velikom geografskom području u prisustvu potencijalno zlonamernih aktera. Budući da se generali razdvojeni prostorom moraju oslanjati na glasnike i to oslanjanje zahteva vreme i poverenje, nijedan general ne može biti apsolutno siguran da je drugi general primio i potvrdio poruku, a kamoli njenu tačnost.

Postavljanje knjige transakcija, kojoj svi imaju pristup, na Internet rešava ovaj problem. Knjiga transakcija beleži iznose, vremena i javne adrese svake transakcije. Informacije se dele širom sveta i stalno se ažuriraju. Knjiga transakcija garantuje integritet sistema i omogućava da valutna jedinica postane digitalni oblik imovine sa vlasništvom.

Kada ovo shvatite, možete videti da je suština vrednosti Bitkoin povezana sa njegovom integrisanom platnom mrežom. Ovde se pronalazi upotrebna vrednost na koju se Mizes poziva. Ona nije ugrađena u samu valutnu jedinicu, već u briljantan i inovativan platni sistem na kojem Bitkoin živi. Kada bi bilo moguće da se blokčejn nekako odvoji od Bitkoina (a to zaista nije moguće), vrednost valute bi odmah pala na nulu.

Dokaz koncepta

Da biste dalje razumeli kako se Mizesova teorija uklapa u Bitkoin, morate razumeti još jednu stvar u vezi sa istorijom kriptovalute. Na dan pokretanja (9. januar 2009.), vrednost Bitkoina bila je tačno nula. I tako je ostalo 10 meseci nakon pokretanja. Sve to vreme su se transakcije odvijale, ali tokom celog tog perioda vrednost nije bila iznad nule.

Prva objavljena cena Bitkoina pojavila se 5. oktobra 2009. Na ovoj menjačnici, 1 dolar je iznosio 1.309,03 Bitkoina (što su mnogi tada smatrali precenjenim). Drugim rečima, prva procena vrednosti Bitkoina bila je nešto više od jedne desetine penija. Da, da ste kupili Bitkoin u vrednosti od 100 dolara u to vreme i niste ih panično prodali, danas biste bili „polu-milijarder“.

Dakle, postavlja se pitanje: Šta se dogodilo između 9. januara i 5. oktobra 2009. godine, što je dovelo do toga da Bitkoin dobije tržišnu vrednost? Odgovor je da su trgovci, entuzijasti, preduzetnici i drugi isprobavali blokčejn. Želeli su da znaju da li funkcioniše. Da li je prenosio jedinice bez dvostruke potrošnje? Da li je sistem koji se oslanjao na dobrovoljnu računarsku snagu zaista bio dovoljan za verifikaciju i potvrđivanje transakcija? Da li bitkoini koji su dodeljeni kao nagrada završavaju tamo gde treba kao naknada za usluge verifikacije? I iznad svega, da li je ovaj novi sistem zaista uspeo da uradi ono što se činilo nemogućim – to jest, da prenosi bezbedne delove informacija zasnovanih na vlasničkim pravima kroz geografski prostor, bez posredovanja neke treće strane, već direktno između korisnika (peer-to-peer)?

Potrajalo je 10 meseci da se izgradi poverenje. Bilo je potrebno još 18 meseci dok Bitkoin nije dostigao paritet sa američkim dolarom. Ovu istoriju je ključno razumeti, pogotovo ako se oslanjate na teoriju porekla novca koja spekuliše o praistoriji novca, kao što to čini Misesova regresiona teorema. Bitkoin nije uvek bio novac koji ima vrednost. Nekada je bio čista računovodstvena jedinica vezana za knjigu transakcija (ledger). Ova knjiga transakcija je pribavila ono što je Mises nazvao „upotrebnom vrednošću“. Svi uslovi teoreme su time zadovoljeni.

Zavšni obračun

Da ponovimo, ako neko kaže da se Bitkoin zasniva ni na čemu drugom osim na "običnoj magli", da ne može biti novac jer nema pravu istoriju kao istinska roba i, bez obzira da li je ta osoba početnik ili visoko obučeno ekonomista, morate istaći dve centralne tačke. Prvo, Bitkoin nije samostalna valuta već obračunska jedinica vezana za inovativnu platnu mrežu. Drugo, ova mreža, a samim tim i Bitkoin, svoju tržišnu vrednost stekla je isključivo kroz testiranje u realnom vremenu u tržišnom okruženju.

Drugim rečima, ako zanemarimo impresivne tehničke karakteristike, Bitkoin je prešao put baš kao i svaka druga valuta, od soli do zlata. Ljudi su smatrali da je platni sistem koristan, a vezana računovodstvena jedinica je bila prenosiva, deljiva, zamenljiva, trajna i retka.

Novac je rođen. Ovaj novac poseduje sve istorijski najbolje osobine novca, ali uključuje i bestežinsku i besprostornu platnu mrežu koja omogućava celom svetu da trguje bez potrebe za trećim stranama.

Ali primetite nešto što je izuzetno važno. Kod blokčejna se ne radi samo o novcu. Radi se o bilo kakvom prenosu informacija koji zahteva sigurnost, potvrde i punu garanciju autentičnosti. Ovo se odnosi na ugovore i transakcije svih vrsta, sve obavljene direktno između stranaka (peer-to-peer). Zamislite svet bez trećih strana, uključujući i najopasniju treću stranu ikada začetu od strane čoveka: samu Državu. Zamislite tu budućnost i počećete da implikacije naše budućnosti u svojoj potpunosti.

Mises bi bio zapanjen i iznenađen Bitkoinom. Ali možda bi osećao i ponos što je njegova monetarna teorija, stara više od 100 godina, potvrđena i dobila novi život u 21. veku.

@ 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

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

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Final thought...

Should I join a country club?

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@ 93bfc86d:fc8e91f5

M of N 분산

이번 5월 BSL 컨퍼런스와 비트코인 서울 2025 컨퍼런스에서 펜락(Penlock) 프로젝트에 참여하고 있는 한 분을 만났다. 아마 이 분을 만난 한국인 분들이 더 있을 텐데, 현재는 익명을 원하시므로 프라이버시 보호를 위해 실명을 언급하는 것은 주의하는 것이 좋겠다.

키를 M of N으로 분산하는 방식 중 내가 알고 있는 건 멀티시그와 샤미르 분산이다.

멀티시그는 각자가 키를 생성하지만,

1. 스크립트 길이가 길어지고, 스크립트를 해시로 감싼다고 해도 일반 주소보다 길다.

2. 일반적인 P2MS는 공개키가 드러나므로 프라이버시 보장이 안 되고, P2SH로 감싸도 서명할 때 각자의 공개키가 드러난다(리딤 스크립트가 드러나므로).

이런 특징을 갖고 있다.

샤미르 분산은 하나의 키를 분산하는 방식이므로,

1. 키를 복원했을 때는 결국 하나의 키가 생성되므로 키가 복원되었을 때 보안에 매우 주의해야 한다.

2. 하지만 외부에서 볼 때는 어떤 방식으로 분할이 되었는지 알 수가 없으므로 프라이버시에 좋다.

이런 특징을 갖고 있다.

M of N은 회사에서의 권한 분산, 상속, 위험 지점 분산, 신뢰 지점 분산 등에 사용할 수 있을 것이다. 하지만 나는 멀티시그와 샤미르 분산이 둘 다 M of N을 구현하지만 그 특성이 약간 다르기 때문에 적합한 용처도 다르다고 생각한다. 만약 한 기업이 여러 이사진의 의사결정 과정에서 권한을 분산해야 한다면 멀티시그 방식이 훨씬 나을 것이다. 이사 각각이 서명하면 되기 때문이다. 여기다가 샤미르 분산을 쓴다면 이사 몇 명이 모여 키 하나를 생성했을 때 쪼개기 전의 원래 하나의 키가 생기므로 권한 분산에 차질이 생길 수 있다. 그 키를 갖는 사람이 갑자기 모든 권한을 가질 수 있게 되기 때문이다. 거꾸로 한 개인이 키를 백업하고자 하는데 키를 분실하거나 화재나 기타 재난 등의 이유로 파괴될 것에 대비하여 여러 장소에 분산하여 보관하고 싶다면 샤미르 분산이 더 적합할 것이다. 키 조각들을 합쳐서 원래 키가 생겼을 때 그 키는 어차피 한 개인이 쓰는 것이므로 권한 구조가 갑자기 한 곳으로 몰리는 것에 대해 걱정할 필요가 없기 때문이다.

그런데 샤미르 분산은 멀티시그보다 직관적이진 않은 것 같다. 멀티시그는 스크립트 구조를 보면 바로 어떤 구조인지 알 수 있다. 손으로 따라 쓸 수도 있는 수준이다. 하지만 트레저가 도입한 샤미르 분산인 SLIP-0039 같은 형식은 직관적이지가 않다. 일단 샤미르 분산이 다항함수를 통한 비밀 분산을 쓰는 원리라는 걸 이해해야 하고(키 조각이 부족하면 부정방정식이 되어서 복구 불가), 그걸 통해 복구하는 과정에서 사용하는 라그랑주 보간법이 인간이 손으로 계산하기에는 너무 어렵다. 키를 분할하고 복구하는 과정이 수학적인 함수 공간에서 정의되고, 사용자는 키 조각들만 보게 되므로 내부 구조에 대해 직관적으로 이해하기가 어렵다.

오프라인 손 계산과 직관적 이해

조금 다른 주제로 넘어가보자. 나는 기술의 사용자들이 그 기술을 '직관'적으로 이해할 수 있는 지가 매우 중요하다고 생각한다. 비트코인 경험에는 특히 '검증'이 중요한데 어떤 기술을 직관적으로 이해할 수 없다면 검증은 전문가들만의 전유물이 되기 때문이다.

예를 들어보자. 앨리스, 밥, 캐롤이 각각 니모닉을 만들었다.

1. 앨리스는 기계가 생성해준 니모닉을 사용한다. 기계는 SE칩 내부에 있는 전자의 브라운 운동 등을 엔트로피로 이용해 랜덤한 엔트로피를 생성했다. 하지만 앨리스는 이 사실을 모르고, 따라서 기계를 신뢰해야 한다. 앨리스는 기계가 생성해 준 엔트로피가 충분히 랜덤하고 안전하다고 "믿고 있다." 사실이 그런지 아닌지와는 별개로 말이다.

2. 밥은 주사위를 던져서 만든 니모닉을 사용한다. 하지만 주사위를 던졌을 때 나온 값이 어떻게 니모닉으로 변환되는지는 모른다. 기계는 주사위를 던져 나온 숫자를 유니코드 문자열로 인식하여 SHA256을 한 번 돌린 뒤, 그 해시값을 엔트로피로 사용한다. 밥은 자신이 직접 주사위를 던졌으므로 엔트로피가 랜덤하게 생성되었다는 것은 직관적으로 알지만, 그 숫자가 어떻게 니모닉으로 계산된 건지는 모른다.

3. 캐롤은 직접 동전을 던져 0, 1을 기록하고 자신이 직접 니모닉 표를 보며 니모닉을 대응시켰다. 따라서 캐롤은 자신이 사용하는 니모닉이 랜덤하다는 것도 이해하고 있으며, 랜덤한 엔트로피를 어떻게 니모닉에 대응시키는지도 알고 있다.

세 가지 경우 중 누가 니모닉에 대해 가장 잘 직관적으로 이해하고 있겠는가? 당연히 3번 캐롤이다. 이렇듯 오프라인에서 동전을 던져 직접 엔트로피를 생성하고, 표를 보며 손으로 직접 니모닉에 대응시키는 과정은 니모닉을 직관적으로 이해하는 데 매우 중요하다.

솔직히 3번의 경우도 완전히 신뢰 지점이 없진 않다. 왜냐하면... 니모닉의 체크썸을 계산하는 과정에서 해싱을 해야 하기 때문이다. 손으로 SHA256 함수를 계산할 수 있는 게 아니라면... 캐롤은 어떤 기계에게 체크섬 생성을 맡길 수밖에 없다. 그러면 적어도 그 과정에 대한 이해의 폭은 제한될 수밖에 없다.

오프라인에서 계산하는 경험들이 왜 직관적인 이해에 더 도움이 될까? 그 과정들을 자신이 온전히 통제하기 때문이다. 기계에 맡겨야 하는 순간에는 그 기계 안에서 무엇이 일어나는지 알 수 없으며 따라서 자신의 통제 밖에 있다.

펜락 프로젝트

서론이 길었다! 다시 샤미르 분산 이야기로 돌아오겠다. 샤미르 분산을 '손으로 계산'해 키 조각을 만들고, 키 조각들을 모아 다시 오프라인에서 '손으로 계산'해 하나로 만들 수 있을까? 거의 불가능에 가까울 것이다!

그런데 이번에 BSL 컨퍼런스에서 펜락 프로젝트에 참여하고 있는 한 분을 우연히 만나 인사를 나눴고, 며칠 뒤 있는 비트코인 서울 컨퍼런스에서 그 분이 나한테 선물을 주셨다. 바로... 아래 사진의 회전판이다. 직접 가위로 자르고 핀을 꽂는 것까지 봤다(컨퍼런스 강연 중에 뒷자리에서 가위로 자르고 있어서 웃음을 참을 수가 없었다ㅋㅋㅋ). 나는 이 귀엽고 조악한 회전판을 처음 봤을 때 이 위력에 대해 알지 못했다...

이 펜락 프로젝트 회전판은... 샤미르 분산처럼 하나의 키를 키 조각으로 나누고, 그 키 조각들을 오프라인에서 원래 키로 복구할 수 있게 만들어준다. 이게 작동하는 걸 처음 봤을 때 나는 정말 정말 x21 엄청나게 놀랐다.

사용 방법을 간단히 말해보자면, 메인 키(니모닉)가 있으면 니모닉 한 단어의 앞 4개 문자만 적는다(이유는 다들 아실 거라 생각... 니모닉은 앞 4글자가 겹치는 경우가 없기 때문). 그 다음에 두 숫자를 뽑는다. 1–32까지의 숫자 한 장, 그리고 1–32까지의 숫자인데 흰 동그라미/검은 동그라미 나눠져있는 걸로 한 장(그러면 총 64가지 경우일 것이다). 그러면 32*64 = 2,048가지 경우가 나온다. 그리고 체크섬을 표에서 찾아 적는데, 솔직히 추가 체크썸이 왜 필요한 건지는 아직 이해를 못했다. 진짜로 이 오프라인 과정을 해보며 생길 수 있는 오류를 잡기 위한 체크썸인 것으로 이해된다.

어쨌든 하이라이트는 지금부터인데... 자, 니모닉에서 'F'라는 단어가 있다고 해보자. 그러면 아래 사진처럼 눈금을 F에다 둔다. 그 다음 랜덤한 숫자를 뽑는다. 그렇게 뽑은 숫자가 22이라고 해보자. 그러면 회전판 내부에서 22, 23, 24에 있는 문자를 각각 아래에 적는다. 이게 키 조각이다... F가 ① V, ② P, ③ J 이렇게 세 가지 조각으로 분할 된 거다.

이제 세 개의 키 조각 ① V, ② P, ③ J로 키를 복구하는 상황을 생각해보자. 만약 ③번 키 조각인 J가 화재로 날아가버렸다. 2 of 3이니 그래도 키 조각이 두 개만 있어도 복구할 수 있다. ①번 키 조각인 V와, ②번 키 조각인 P를 조합해 키를 복구해보겠다. 그러면 회전판을 움직여... P가 V를 바라보게 하면 된다. 사진에서 빨간 박스로 표시한 부분이다. 그러면 큰 눈금이 원래 키인 F를 가리키게 된다. 정말 미쳤다! 만약, ②번 키 조각 P와, ③번 키 조각 J가 있다면 J가 P를 바라보게 하면 된다. 만약 ③번 키 조각 J와, ①번 키 조각 V로 키 복구를 시도한다면 J가 V를 바라보게 하고, 대신 ③번이 ①번을 바라보게 하는 것처럼 순환하는 상황에는 큰 눈금이 아니라 내부 1번 네모칸을 읽어야 한다.

펜락 회전판의 뒷면을 보면 이걸 어떻게 구현했는지 대강 알 수가 있다. 펜락 프로젝트는 반지름을 조금씩 다르게 하고, 회전 각도를 서로소인 두 숫자를 이용해 글자들이 겹치지 않도록 구현한 걸로 보인다. 말로 설명했지만, 직접 해봐야 "미쳤다!" 소리가 저절로 나온다. 이거 직접 해보면 ~비속어가 나올 정도로~ 놀란다. 정말로.

펜락 프로젝트는 오픈 소스라고 하고, 최고 개발자는 ganrama이다(사이트는 아직 베타라서 내용들이 채워지고 있는 걸로 보인다ㅎㅎ).

https://github.com/ganrama

https://beta.penlock.io/

나는 비트코인에서 나오는 프로젝트들을 일단 의심부터 하고 보는 편이다. 그런데 펜락은 직관적으로 다 이해가 되기 때문에 현재는 우려할만한 점이 생각나지 않는다. 비트코인 프로젝트들 중에는 편리함, 보안, 프라이버시 중 무언가를 희생시키고 그걸 교묘히 감추려고 하거나 비즈니스 모델을 만들다가 초기의 정신을 잊는 경우가 많다. 그런데 이 프로젝트는 그에 해당할 만한 게 없는 것 같아서 일단 의심의 눈초리를 거두고 응원한다. 내가 오프라인에서 직접 키를 분할해보고, 조합해본 경험이 너무 강렬하게 작용했기 때문인 것 같다. 펜락 대표 개발자가 올해 하반기에 기회가 된다면 한국에서도 소개하고 싶다고 하니 계속 관심을 갖고 지켜보려고 한다.

@ 3eab247c:1d80aeed

Global Metrics

Here are the top stats from the last period:

• Total Bitcoin-accepting merchants: 15,306 → 16,284
• Recently verified (1y): 7,540 → 7,803 (the rest of our dataset is slowly rotting; help us before it's too late!)
• Avg. days since last verification: 398 → 405 (more mappers, please)
• Merchants boosted: 22 (for a total of 4,325 days, someone is feeling generous)
• Comments posted: 34

Find current stats over at the 👉 BTC Map Dashboard.

Merchant Adoption

Steak n’ Shake

The US 🇺🇸 is a massive country, yet its BTC Map footprint has been lagging relative to other countries ... that is until now!

In what came as a nice surprise to our Shadowy Supertaggers 🫠, the Steak ’n Shake chain began accepting Bitcoin payments across hundreds of its locations nationwide (with some international locations too).

According to CoinDesk, the rollout has been smooth, with users reporting seamless transactions powered by Speed.

This marks a significant step towards broader Bitcoin adoption in the US. Now to drop the capital gains tax on cheesburgers!

SPAR Switzerland

In other chain/franchise adoption news, the first SPAR supermarket in Switzerland 🇨🇭 to begin accepting Bitcoin was this one in Zug. It was quickly followed by this one in Rossrüti and this one in Kreuzlingen, in what is believed to be part of a wider roll-out plan within the country powered by DFX's Open CryptoPay.

That said, we believe the OG SPAR crown goes to SPAR City in Arnhem Bitcoin City!

New Features

Merchant Comments in the Web App

Web App users are now on par with Android users in that they can both see and make comments on merchants.

This is powered by our tweaked API that enables anyone to make a comment as long as they pass the satswall fee of 500 sats. This helps keep spam manageable and ensure quality comments.

And just in case you were wondering what the number count was on the merchant pins - yep, they're comments!

Here is an 👉 Example merchant page with comments.

Merchant Page Design Tweaks

To support the now trio of actions (Verify, Boost & Comment) on the merchant page, we've re-jigged the design a little to make things a little clearer.

What do you think?

Technical

Codebase Refactoring

Thanks to Hannes’s contributions, we’ve made progress in cleaning-up the Web App's codebase and completing long overdue maintenance. Whilst often thankless tasks, these caretaking activities help immensely with long-term maintainability enabling us to confidently build new features.

Auth System Upgrades

The old auth system was held together with duct tape and prayers, and we’re working on a more robust authentication system to support future public API access. Updates include:

• Password hashing
• Bearer token support
• Improved security practices

More enhancements are in progress and we'll update you in the next blog post.

Better API Documentation

Instead of relying on tribal knowledge, we're finally getting around to writing actual docs (with the help/hindrance of LLMs). The "move fast, break everything" era is over; now we move slightly slower and break slightly less. Progress!

Database Improvements

We use SQLite, which works well but it requires careful handling in async Rust environments. So now we're untangling this mess to avoid accidental blocking queries (and the ensuing dumpster fires).

Backup System Enhancements

BTC Map data comes in three layers of fragility:

• Merchants (backed up by OS - the big boys handle this)
• Non-OSM stuff (areas, users, etc. - currently stored on a napkin)
• External systems (Lightning node, submission tickets - pray to Satoshi)

We're now forcing two core members to backup everything, because redundancy is good.

Credits

Thanks to everyone who directly contributed to the project this period:

• Comino
• descubrebitcoin
• Hannes
• Igor Bubelov
• Nathan Day
• Rockedf
• Saunter
• SiriusBig
• vv01f

Support Us

There are many ways in which you can support us:

• Become a Shadowy Supertagger and help maintain your local area or pitch-in with the never-ending global effort.

• Consider a zapping this note or make a donation to the to the project here.

@ dfa02707:41ca50e3

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

@ 39cc53c9:27168656

Read the original blog post

I'm launching a new service review section on this blog in collaboration with OrangeFren. These reviews are sponsored, yet the sponsorship does not influence the outcome of the evaluations. Reviews are done in advance, then, the service provider has the discretion to approve publication without modifications.

Sponsored reviews are independent from the kycnot.me list, being only part of the blog. The reviews have no impact on the scores of the listings or their continued presence on the list. Should any issues arise, I will not hesitate to remove any listing.

---

The review

WizardSwap is an instant exchange centred around privacy coins. It was launched in 2020 making it old enough to have weathered the 2021 bull run and the subsequent bearish year.

| Pros | Cons | |------|------| | Tor-friendly | Limited liquidity | | Guarantee of no KYC | Overly simplistic design | | Earn by providing liquidity | |

Rating: ★★★★★ Service Website: wizardswap.io

Liquidity

Right off the bat, we'll start off by pointing out that WizardSwap relies on its own liquidity reserves, meaning they aren't just a reseller of Binance or another exchange. They're also committed to a no-KYC policy, when asking them, they even promised they would rather refund a user their original coins, than force them to undergo any sort of verification.

On the one hand, full control over all their infrastructure gives users the most privacy and conviction about the KYC policies remaining in place.

On the other hand, this means the liquidity available for swapping isn't huge. At the time of testing we could only purchase at most about 0.73 BTC with XMR.

It's clear the team behind WizardSwap is aware of this shortfall and so they've come up with a solution unique among instant exchanges. They let you, the user, deposit any of the currencies they support into your account and earn a profit on the trades made using your liquidity.

Trading

Fees on WizardSwap are middle-of-the-pack. The normal fee is 2.2%. That's more than some exchanges that reserve the right to suddenly demand you undergo verification, yet less than half the fees on some other privacy-first exchanges. However as we mentioned in the section above you can earn almost all of that fee (2%) if you provide liquidity to WizardSwap.

It's good that with the current Bitcoin fee market their fees are constant regardless of how much, or how little, you send. This is in stark contrast with some of the alternative swap providers that will charge you a massive premium when attempting to swap small amounts of BTC away.

Test trades

Test trades are always performed without previous notice to the service provider.

During our testing we performed a few test trades and found that every single time WizardSwap immediately detected the incoming transaction and the amount we received was exactly what was quoted before depositing. The fees were inline with what WizardSwap advertises.

• Monero payment proof
• Bitcoin received
• Wizardswap TX link - it's possible that this link may cease to be valid at some point in the future.

ToS and KYC

WizardSwap does not have a Terms of Service or a Privacy Policy page, at least none that can be found by users. Instead, they offer a FAQ section where they addresses some basic questions.

The site does not mention any KYC or AML practices. It also does not specify how refunds are handled in case of failure. However, based on the FAQ section "What if I send funds after the offer expires?" it can be inferred that contacting support is necessary and network fees will be deducted from any refund.

UI & Tor

WizardSwap can be visited both via your usual browser and Tor Browser. Should you decide on the latter you'll find that the website works even with the most strict settings available in the Tor Browser (meaning no JavaScript).

However, when disabling Javascript you'll miss the live support chat, as well as automatic refreshing of the trade page. The lack of the first means that you will have no way to contact support from the trade page if anything goes wrong during your swap, although you can do so by mail.

One important thing to have in mind is that if you were to accidentally close the browser during the swap, and you did not save the swap ID or your browser history is disabled, you'll have no easy way to return to the trade. For this reason we suggest when you begin a trade to copy the url or ID to someplace safe, before sending any coins to WizardSwap.

The UI you'll be greeted by is simple, minimalist, and easy to navigate. It works well not just across browsers, but also across devices. You won't have any issues using this exchange on your phone.

Getting in touch

The team behind WizardSwap appears to be most active on X (formerly Twitter): https://twitter.com/WizardSwap_io

If you have any comments or suggestions about the exchange make sure to reach out to them. In the past they've been very receptive to user feedback, for instance a few months back WizardSwap was planning on removing DeepOnion, but the community behind that project got together ^1 and after reaching out WizardSwap reversed their decision ^2.

You can also contact them via email at: support @ wizardswap . io

Disclaimer

None of the above should be understood as investment or financial advice. The views are our own only and constitute a faithful representation of our experience in using and investigating this exchange. This review is not a guarantee of any kind on the services rendered by the exchange. Do your own research before using any service.

@ a39d19ec:3d88f61e

This months proof of watch or #wristcheck (inspired by nostr:nprofile1qqs8nh529w5huhuqvx0h5zm8e5ncdenk7qvfpsl3huxu84xnfnr6uespr9mhxue69uhhyetvv9ujumt0d4hhxarj9ecxjmnt9uxu0nnm) is the Casio MTD-1001 with caliber 1333 and a quartz clockwork.

Design

A solid analog watch with weekday and day of month at 3 o'clock. Classified as a divers watch it has a pretty big dial within a 44mm metal casing leading to big hands that are very readable. Hands and numbers are phosphorus. The counter-clockwise rotating bezel does 60 clicks per revolution. The screw-down crown is at 3'o clock. The rubber band is pretty long.

Storytime

I bought it a long time ago and just saw that it needed some love (and a new battery) and thought it is a good opportunity to wear it for the first time. I wear one watch as a daily driver for one month straight. Wearing it for seven days now I can say that it is a heavy watch. You feel that you are wearing it. To be honest I completely forgot about that watch as it was a bulk of 5 or 6 watches and this was not the one I bought the bulk for.

This might be the first longform note about a watch from my collection.

@ a39d19ec:3d88f61e

Ich habe meine Texte ChatGPT gegeben um diese klarer zu formulieren als das was ich schrieb.

Einleitung

Oft hört man, dass schlechte Produkte ein Zeugnis des Kapitalismus und gieriger Unternehmer ist. Dass es nicht am Kapitalismus, sondern am sozialistischen Fiatgeld liegt, möchte ich in diesem Beitrag aufzeigen.

In einem Fiatgeldsystem, bei dem die Geldmenge durch Zentralbanken kontrolliert und ständig ausgeweitet wird, kommt es zu einem Kaufkraftverlust des Geldes (Inflation). Dieser Mechanismus beeinflusst die Geschäftsstrategien von Unternehmen in mehreren bedeutenden Weisen, auf die ich im Folgenden eingehen werde.

Schnelle Kaufkraftverluste

Durch die ständige Ausweitung der Geldmenge verliert Geld an Wert. Das bedeutet, dass die Konsumenten zukünftig für dieselben Produkte mehr bezahlen müssen. Für Unternehmen entsteht der Anreiz, Konsumenten dazu zu bringen, häufiger neue Produkte zu kaufen, um ihren Umsatz und Gewinn in der Zukunft zu sichern.

Geplante Obsoleszenz

Durch die geplante Obsoleszenz, bei der Produkte absichtlich so konstruiert werden, dass sie schnell kaputt gehen oder veralten, können Unternehmen sicherstellen, dass Kunden regelmäßig neue Produkte kaufen müssen. Dies hilft den Unternehmen, kontinuierlich Umsatz zu generieren und die Auswirkungen der Inflation auf ihre Einnahmen abzufedern.

Erhöhung des Konsumtempos

Wenn die Kaufkraft ständig abnimmt, möchten Konsumenten ihr Geld eher früher als später ausgeben, um den Wertverlust zu vermeiden. Unternehmen nutzen dies aus, indem sie Produkte herstellen, die schnell ersetzt werden müssen, wodurch der Konsum beschleunigt wird und sie von der höheren Frequenz der Käufe profitieren.

Kostenmanagement

Die Herstellung von langlebigen Produkten kann teurer sein als die Produktion von kurzlebigen Waren. In einem inflationären Umfeld möchten Unternehmen ihre Produktionskosten minimieren, um ihre Margen zu schützen. Billigere, weniger langlebige Produkte ermöglichen es, Kosten zu sparen und kurzfristig wettbewerbsfähige Preise zu halten.

Marktdynamik

In einem inflationären Umfeld kann es für Unternehmen riskant sein, große Mengen langlebiger Produkte zu produzieren, da die zukünftigen Produktionskosten und Verkaufspreise schwerer vorhersehbar sind. Kurzlebige Produkte ermöglichen eine schnellere Anpassung an veränderte Marktbedingungen und Preisniveaus.

Kundengewohnheiten und Marketing

Unternehmen können durch gezieltes Marketing und die ständige Einführung neuer Modelle und Trends (z.B. in der Elektronik- und Modebranche) das Konsumverhalten beeinflussen und sicherstellen, dass Produkte als schnell veraltet angesehen werden. Dies unterstützt das Geschäftsmodell, das auf häufige Neuanschaffungen angewiesen ist.

Zusammenfassend lässt sich sagen, dass die inflationäre Dynamik eines Fiatgeldsystems Unternehmen dazu verleitet, Produkte zu entwerfen, die nicht lange halten. Durch die beschleunigte Produktalterung und die häufigeren Käufe können sie ihre Einnahmen stabilisieren und den Auswirkungen des Wertverlustes des Geldes entgegenwirken.

@ 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

@ 7e6f9018:a6bbbce5

The velocity of money inform us about how quick the money moves, and is a frequent indicator to research the current economic environment.

An interesting twist is using housing instead of money. Why? The main reasons that come to mind are:

1. It’s easier to measure housing velocity than dollar velocity.

2. Data on housing transactions is more reliable.

3. Residential real state is the largest store of wealth in the world.

> The residential real estate is worth $287 trillion. Not even all the money deposited in stocks ($98 trillion) and bonds ($129 trillion), added together, surpass the residential real state market. In a way, housing is the economy.

The next chart shows the velocity of housing in Spain, where we observe a negative correlation of -0.53, which is quite significant. This suggests that the higher the housing velocity, the higher the inflation; and the lower the housing velocity, the lower the inflation.

> The velocity is a measurement of the rate at which the current stock of houses is exchanged. The lower the value, the higher the velocity. A ratio of (x) means that it would take (x) years to exchange the stock at current speed.

Therefore, by knowing how quickly the housing sector is moving, we can infer whether we are living under an inflationary or deflationary period.

Currently, housing velocity has been increasing, reaching a value of 36 in 2025, a relatively high figure (all time high was 28 in 2006), and at the same time, we are experiencing an inflationary period. Hopefully this data can help us navigate the economic world and invest accordingly.

@ 04c3c1a5:a94cf83d

12

@ 04c3c1a5:a94cf83d

heyyyy

@ 04c915da:3dfbecc9

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

Concern

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

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

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

Optimism

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

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

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

Realism

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

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

@ 39cc53c9:27168656

Read the original blog post

Bitcoin enthusiasts frequently and correctly remark how much value it adds to Bitcoin not to have a face, a leader, or a central authority behind it. This particularity means there isn't a single person to exert control over, or a single human point of failure who could become corrupt or harmful to the project.

Because of this, it is said that no other coin can be equally valuable as Bitcoin in terms of decentralization and trustworthiness. Bitcoin is unique not just for being first, but also because of how the events behind its inception developed. This implies that, from Bitcoin onwards, any coin created would have been created by someone, consequently having an authority behind it. For this and some other reasons, some people refer to Bitcoin as "The Immaculate Conception".

While other coins may have their own unique features and advantages, they may not be able to replicate Bitcoin's community-driven nature. However, one other cryptocurrency shares a similar story of mystery behind its creation: Monero.

History of Monero

Bytecoin and CryptoNote

In March 2014, a Bitcointalk thread titled "Bytecoin. Secure, private, untraceable since 2012" was initiated by a user under the nickname "DStrange"^1^. DStrange presented Bytecoin (BCN) as a unique cryptocurrency, in operation since July 2012. Unlike Bitcoin, it employed a new algorithm known as CryptoNote.

DStrange apparently stumbled upon the Bytecoin website by chance while mining a dying bitcoin fork, and decided to create a thread on Bitcointalk^1^. This sparked curiosity among some users, who wondered how could Bytecoin remain unnoticed since its alleged launch in 2012 until then^2^.

Some time after, a user brought up the "CryptoNote v2.0" whitepaper for the first time, underlining its innovative features^4^. Authored by the pseudonymous Nicolas van Saberhagen in October 2013, the CryptoNote v2 whitepaper^5^ highlighted the traceability and privacy problems in Bitcoin. Saberhagen argued that these flaws could not be quickly fixed, suggesting it would be more efficient to start a new project rather than trying to patch the original^5^, an statement simmilar to the one from Satoshi Nakamoto^6^.

Checking with Saberhagen's digital signature, the release date of the whitepaper seemed correct, which would mean that Cryptonote (v1) was created in 2012^7^, although there's an important detail: "Signing time is from the clock on the signer's computer" ^9^.

Moreover, the whitepaper v1 contains a footnote link to a Bitcointalk post dated May 5, 2013^10^, making it impossible for the whitepaper to have been signed and released on December 12, 2012.

As the narrative developed, users discovered that a significant 80% portion of Bytecoin had been pre-mined^11^ and blockchain dates seemed to be faked to make it look like it had been operating since 2012, leading to controversy surrounding the project.

The origins of CryptoNote and Bytecoin remain mysterious, leaving suspicions of a possible scam attempt, although the whitepaper had a good amount of work and thought on it.

The fork

In April 2014, the Bitcointalk user thankful_for_today, who had also participated in the Bytecoin thread^12^, announced plans to launch a Bytecoin fork named Bitmonero^13^.

The primary motivation behind this fork was "Because there is a number of technical and marketing issues I wanted to do differently. And also because I like ideas and technology and I want it to succeed"^14^. This time Bitmonero did things different from Bytecoin: there was no premine or instamine, and no portion of the block reward went to development.

However, thankful_for_today proposed controversial changes that the community disagreed with. Johnny Mnemonic relates the events surrounding Bitmonero and thankful_for_today in a Bitcointalk comment^15^:

When thankful_for_today launched BitMonero [...] he ignored everything that was discussed and just did what he wanted. The block reward was considerably steeper than what everyone was expecting. He also moved forward with 1-minute block times despite everyone's concerns about the increase of orphan blocks. He also didn't address the tail emission concern that should've (in my opinion) been in the code at launch time. Basically, he messed everything up. Then, he disappeared.

After disappearing for a while, thankful_for_today returned to find that the community had taken over the project. Johnny Mnemonic continues:

I, and others, started working on new forks that were closer to what everyone else was hoping for. [...] it was decided that the BitMonero project should just be taken over. There were like 9 or 10 interested parties at the time if my memory is correct. We voted on IRC to drop the "bit" from BitMonero and move forward with the project. Thankful_for_today suddenly resurfaced, and wasn't happy to learn the community had assumed control of the coin. He attempted to maintain his own fork (still calling it "BitMonero") for a while, but that quickly fell into obscurity.

The unfolding of these events show us the roots of Monero. Much like Satoshi Nakamoto, the creators behind CryptoNote/Bytecoin and thankful_for_today remain a mystery^17^, having disappeared without a trace. This enigma only adds to Monero's value.

Since community took over development, believing in the project's potential and its ability to be guided in a better direction, Monero was given one of Bitcoin's most important qualities: a leaderless nature. With no single face or entity directing its path, Monero is safe from potential corruption or harm from a "central authority".

The community continued developing Monero until today. Since then, Monero has undergone a lot of technological improvements, migrations and achievements such as RingCT and RandomX. It also has developed its own Community Crowdfundinc System, conferences such as MoneroKon and Monerotopia are taking place every year, and has a very active community around it.

Monero continues to develop with goals of privacy and security first, ease of use and efficiency second. ^16^

This stands as a testament to the power of a dedicated community operating without a central figure of authority. This decentralized approach aligns with the original ethos of cryptocurrency, making Monero a prime example of community-driven innovation. For this, I thank all the people involved in Monero, that lead it to where it is today.

If you find any information that seems incorrect, unclear or any missing important events, please contact me and I will make the necessary changes.

Sources of interest

• https://forum.getmonero.org/20/general-discussion/211/history-of-monero
• https://monero.stackexchange.com/questions/852/what-is-the-origin-of-monero-and-its-relationship-to-bytecoin
• https://en.wikipedia.org/wiki/Monero
• https://bitcointalk.org/index.php?topic=583449.0
• https://bitcointalk.org/index.php?topic=563821.0
• https://bitcointalk.org/index.php?action=profile;u=233561
• https://bitcointalk.org/index.php?topic=512747.0
• https://bitcointalk.org/index.php?topic=740112.0
• https://monero.stackexchange.com/a/1024
• https://inspec2t-project.eu/cryptocurrency-with-a-focus-on-anonymity-these-facts-are-known-about-monero/
• https://medium.com/coin-story/coin-perspective-13-riccardo-spagni-69ef82907bd1
• https://www.getmonero.org/resources/about/
• https://www.wired.com/2017/01/monero-drug-dealers-cryptocurrency-choice-fire/
• https://www.monero.how/why-monero-vs-bitcoin
• https://old.reddit.com/r/Monero/comments/u8e5yr/satoshi_nakamoto_talked_about_privacy_features/

@ 96859d14:b06bf54d

Imagine you’re running through a vast, freezing forest with a group of friends. You don’t know why you’re running — you just know that if you stop, you’ll get colder, and if you get too cold, you might not survive. The air bites at your skin, your body is shivering, but you keep running because that’s what everyone else is doing.

Then, suddenly, someone spots a wildfire burning in the distance. It’s bright, warm, and wild, flickering unpredictably. There are already people gathered around it, calling out to you and your friends, “Stop running! Come here! There’s warmth, there’s safety!”

But nobody stops. The fire is growing and shrinking in unpredictable ways, and it scares them. “What if it burns us?” someone whispers. “What if it disappears and leaves us worse off?” another says. So, the group keeps running, choosing the cold they know over the fire they don’t understand.

But you’re curious. Something about the people around the fire seems different — they aren’t desperate, they aren’t shivering. They seem… secure. So, you stop. You approach them, ask questions, and listen. You stay for a while — one day, then two, then five. The more you learn, the more it all starts making sense.

“This fire isn’t random,” they explain. “It’s here for a reason, and if you understand it, it can keep you warm forever.” And then it hits you — you’ve spent your whole life freezing, and all this time, the answer was right here.

Now, you feel an urgency like never before. You have to tell your friends. You have to bring them back to this warmth before it’s too late. So you run after them, calling out, “Guys! Stop running! Come here, just for a little while! You don’t have to freeze to death. Just listen, try to understand!”

But they don’t stop. “We don’t have time,” they say. “That fire is too risky,” they argue. “We saw it grow and shrink wildly — it could burn out at any moment!” they insist. No matter how much you try, they refuse. And as time passes, they run farther and farther away, making it even harder to come back.

Enter Bitcoin

This is exactly what’s happening with Bitcoin. Most people are running, chasing assets that lose value(in absolute real terms) over time — cash, stocks, real estate, anything that promises a yield. But they don’t see the problem: every one of these assets is bleeding energy. Inflation, depreciation, and central control erode their value, year after year.

Bitcoin, on the other hand, is like the fire in the cold forest. It resists entropy, preserving monetary energy and maintaining its ability to store value over time. Yet, people are afraid of it because it’s volatile, unpredictable, and unfamiliar. They see the price swing wildly and think it’s dangerous, not realizing that over time, it has always trended upwards. They hear misinformation, compare it to things it shouldn’t be compared to, and fail to grasp its true nature.

If only they would stop and listen — just for a little while. If they asked the right questions and sought real understanding, they would see what you now see. But they won’t. They keep running, clinging to their familiar assets, chasing returns that barely keep up with inflation, unaware of the opportunity they are missing.

The longer they wait, the harder it becomes to turn back. Bitcoin adoption grows, its scarcity becomes clearer, and the cost of entry rises. The window to “just try it for a few days” gets smaller and smaller.

So you keep calling out to them, hoping someone will stop, hoping someone will listen. Because you know the truth: the fire isn’t dangerous — it’s salvation in a freezing world.

I just wanted to help people — but over time, I’ve realized that most people don’t recognize that others aren’t necessarily looking to help them. They see every trade or interaction as a zero-sum game — either they win, or you do — because that’s the FIAT mindset at work.

There has never been a trade where both truly win — until Bitcoin. With Bitcoin, we both win.

@ 866e0139:6a9334e5

Autor: Jonas Tögel. Dieser Beitrag wurde mit dem Pareto-Client geschrieben. Sie finden alle Texte der Friedenstaube und weitere Texte zum Thema Frieden hier. Die neuesten Pareto-Artikel finden Sie in unserem Telegram-Kanal.

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

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Eine der wichtigste Säulen einer funktionierenden Demokratie ist die sogenannte „öffentliche Sphäre“ (1), ein Debattenraum, in den sich alle Menschen gleichberechtigt einbringen und über aktuelle, für die Gemeinschaft wichtige Fragen diskutieren können. In Deutschland ist die Offenheit dieses Debattenraumes eigentlich durch fundamentale Grundrechte wie die Meinungs- und Pressefreiheit geschützt. 

https://www.youtube.com/watch?v=FHF6rjDbK9w

Soziale Medien im Visier

Dennoch wird der öffentliche Diskurs derzeit immer stärker eingeschränkt. Als Rechtfertigung dafür wird seit einigen Jahren der sogenannte Kampf gegen „Desinformation“ oder auch „Falschinformation“ (Misinformation) angeführt:  Unter dem Vorwand, die Bevölkerung vor schädlicher Einflussnahme von außen, beispielsweise aus Russland, schützen zu wollen, wird der öffentliche Diskurs mit Hilfe von „Faktencheckern“, „Trusted Flaggern“ oder durch das „Gesetz für Digitale Dienstleistungen“ (Digital Services Act) massiv eingeschränkt, wobei vor allem soziale Medien verstärkt ins Visier genommen werden. 

In der Propagandaforschung ergibt sich bei dem vorgeblichen Kampf gegen „Desinformation“ jedoch das Problem, dass die Begriffe selbst, die als Rechtfertigung dafür verwendet werden, um den öffentlichen Diskurs einzuschränken und bestimmte Inhalte zu löschen, nicht eindeutig definiert sind. Auch was „falsche Tatsachenbehauptungen“ sind, kann letztlich nur der offene, öffentliche Diskurs entscheiden. Wenn das, was „falsch“ oder „richtig“ ist, durch eine einzelne Instanz im Alleingang entschieden wird, dann landet man bei dem, was George Orwell in seinem bekannten Roman 1984 als „Wahrheitsministerium“ beschrieb: ein Ministerium, das auch noch nach Jahren alle verfügbaren Informationen dem aktuellen Stand der „Wahrheit“ anpasst – selbst wenn diese sich ständig ändern sollte. (2)

Auch heute steht immer wieder der Vorwurf im Raum, dass der Kampf gegen „Desinformation“ sowie der Kampf gegen „russische Desinformation“ gezielt genutzt werden, um im Kampf um die Deutungshoheit das eigene, westliche Narrativ durchzusetzen. Diesen Punkt habe ich ausführlich in meinem Artikel in der Berliner Zeitung dargelegt. 

Wie unehrlich der Kampf gegen falsche Informationen tatsächlich ist, kann folgendes konkrete Beispiel zeigen: Die deutsche Politikerin und ehemalige Vorsitzende des Verteidigungsausschusses im Bundestag, Marie-Agnes Strack-Zimmermann, erklärte in einer am 24. März 2025 im ORF2 ausgestrahlten Sendung: 

„Wladimir Putin ist ein Mörder, ein Killer, der hunderte von Millionen Menschen unter die Erde gebracht hat.“

In der gleichen Sendung behauptete Strack-Zimmermann, dass die Ukraine 70 Milliarden Menschen ernähre. Besonders bemerkenswert dabei ist, dass ihr niemand in der Sendung widersprach.

Wenn man beide Zahlen einordnen möchte, dann sollte man sich einerseits bewusst machen, dass Strack-Zimmermann damit behauptet, dass der russische Präsident mehr Menschen „unter die Erde gebracht hat“, als laut offiziellen Zahlen im Ersten und Zweiten Weltkrieg zusammen gestorben sind. Andererseits sollte man wissen, dass die Weltbevölkerung insgesamt bei ca. 8,2 Milliarden Menschen liegt, die Ukraine laut dieser Aussage somit die gesamte Weltbevölkerung ca. 8,5 Mal ernähren könnte. 

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Hier können Sie die Friedenstaube abonnieren und bekommen die Artikel zugesandt, vorerst für alle kostenfrei, wir starten gänzlich ohne Paywall. (Die Bezahlabos fangen erst zu laufen an, wenn ein Monetarisierungskonzept für die Inhalte steht). Sie wollen der Genossenschaft beitreten oder uns unterstützen? Mehr Infos hier oder am Ende des Textes.

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Das Messen mit doppeltem Maß

Als der Autor daher beschloss, die Äußerungen von Strack-Zimmermann bei mehreren, einschlägigen Meldeportalen für „Desinformation“ als gefährliche Hassrede zu melden, war das Ergebnis umso erstaunlicher: entweder erklärten sich die Meldeportale für das öffentlich-rechtliche Fernsehen nicht zuständig, oder sie lehnten eine Bearbeitung des Falles und einen Faktencheck der getroffenen Aussagen ab, da es wichtigere Fälle zu bearbeiten gäbe und leider keine Kapazitäten zur Prüfung dieses Aussagen zur Verfügung stünden. 

Dieses konkrete Beispiel soll zeigen, wie wichtig es ist, den vorgeblichen Kampf gegen „Desinformation“ oder auch „russische Einflussnahme“ als das einzuordnen, was er in vielen Fällen ist: ein unehrlich Kampf um die Deutungshoheit und damit ein gefährlicher Bestandteil von dem, was man ehrlicherweise als Kriegspropaganda bezeichnet. 

Den Bürgerinnen und Bürgern bleibt somit nur, alle Informationen selbst kritisch auf ihren Wahrheitsgehalt hin zu prüfen und selbst zu entscheiden, was als wertvolle Information und was als manipulative „Desinformation“ eingestuft werden kann. Je besser es gelingt, tatsächliche Desinformation und Kriegspropaganda aller an einem Krieg beteiligten Nationen zu hinterfragen, umso schwerer wird es, diesen Krieg zu führen. Damit ist das Durchschauen von unehrlichen Schlagwörtern wie „Desinformation“ oder „Falschinformation“ ein erster, wichtiger Schritt zur Neutralisierung von Kriegspropaganda und bildet das Fundament, das den Weg zum Frieden dadurch möglich macht. Jeder einzelne hat somit die Möglichkeit, diesen Weg zum Frieden aktiv mitzugestalten. Hier kann der Mut, sich jeden Tag im persönlichen Umfeld in den öffentlichen Diskurs einzubringen und die Friedensbotschaft zu stärken, bereits einen wichtigen Beitrag leisten. 

(1)  Habermas, Jürgen. 1971/1962. Strukturwandel der Öffentlichkeit. Untersuchungen zu einer Kategorie der bürgerlichen Gesellschaft. 5th ed. Neuwied/Berlin.

(2)  Orwell, George (1948). 1984. Seite 193 ff. 

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Dr. Jonas Tögel ist Amerikanist, Propagandaforscher und *Bestsellerautor. Er hat zum Thema Soft Power und Motivation promoviert und arbeitet als wissenschaftlicher Mitarbeiter am Institut für Psychologie der Universität Regensburg. Seine Forschungsschwerpunkte sind unter anderem Motivation, der Einsatz von Soft-Power-Techniken, Nudging, Propaganda sowie Geostrategie. *

Zuletzt erschien sein Buch „Kriegsspiele“ im Westend-Verlag.

Website: *www.jonastoegel.de *

X (Twitter): *https://x.com/JonasToegel *

YouTube: *https://www.youtube.com/@DrJonasToegel *

Instagram: *https://www.instagram.com/drjonastoegel/ *

Telegram: https://t.me/drjonastoegel 

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LASSEN SIE DER FRIEDENSTAUBE FLÜGEL WACHSEN!

In Kürze folgt eine Mail an alle Genossenschafter, danke für die Geduld!

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Sie sind noch nicht auf Nostr and wollen die volle Erfahrung machen (liken, kommentieren etc.)? Zappen können Sie den Autor auch ohne Nostr-Profil! Erstellen Sie sich einen Account auf Start. Weitere Onboarding-Leitfäden gibt es im Pareto-Wiki.

@ c1e9ab3a:9cb56b43

1. Introduction

Over the last 250 years the world’s appetite for energy has soared along an unmistakably exponential trajectory, transforming societies and economies alike. After a half‑century of relative deceleration, a new mix of technological, demographic and political forces now hints at an impending catch‑up phase that could push demand back onto its centuries‑long growth curve. This post knits together the history, the numbers and the newest policy signals to explore what that rebound might look like—and how Gen‑4 nuclear power could meet it.

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2. The Long Exponential: 1750 – 1975

Early industrialisation replaced muscle, wood and water with coal‑fired steam, pushing global primary energy use from a few exajoules per year in 1750 to roughly 60 EJ by 1900 and 250 EJ by 1975. Over that span aggregate consumption doubled roughly every 25–35 years, equivalent to a long‑run compound growth rate of ~3 % yr‑¹. Per‑capita use climbed even faster in industrialised economies as factories, railways and electric lighting spread.

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3. 1975 – 2025: The Great Slowdown

3.1 Efficiency & Structural Change

• Oil shocks (1973, 1979) and volatile prices pushed OECD economies to squeeze more GDP from each joule.
• Services displaced heavy industry in rich countries, trimming energy intensity.
• Refrigerators, motors and vehicles became dramatically more efficient.

3.2 Policy & Technology

• The Inflation Reduction Act (U.S.) now layers zero‑emission production credits and technology‑neutral tax incentives on top of existing nuclear PTCs citeturn1search0turn1search2.
• The EU’s Net‑Zero Industry Act aims to streamline siting and finance for “net‑zero technologies”, explicitly naming advanced nuclear citeturn0search1.

3.3 Result

Global primary energy in 2024 stands near 600 EJ (≈ 167 000 TWh)—still growing, but the line has flattened versus the pre‑1975 exponential.

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4. Population & Per‑Capita Demand

World population tripled between 1950 and today, yet total energy use grew roughly six‑fold. The imbalance reflects rising living standards and electrification. Looking ahead, the UN projects population to plateau near 10.4 billion in the 2080s, but per‑capita demand is poised to climb as the Global South industrialises.

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5. The Policy Pivot of 2023‑2025

| Region | Signal | Year | Implication | |--------|--------|------|-------------| | COP 28 Declaration | 20+ nations pledge to triple nuclear capacity by 2050 | 2023 | High‑level political cover for rapid nuclear build‑out citeturn0search2 | | Europe | Post‑crisis sentiment shifts; blackout in Iberia re‑opens nuclear debate | 2025 | Spain, Germany, Switzerland and others revisit phase‑outs citeturn0news63 | | United States | TVA submits first SMR construction permit; NRC advances BWRX‑300 review | 2025 | Regulatory pathway for fleet deployment citeturn1search9turn1search1 | | Global Strategy Report | “Six Dimensions for Success” playbook for new nuclear entrants | 2025 | Practical roadmap for emerging economies citeturn0search0 | | U.S. Congress | Proposed cuts to DOE loan office threaten build‑out pace | 2025 | Finance bottleneck remains a risk citeturn1news28 |

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6. The Catch‑Up Scenario

Suppose the recent 50‑year pause ends in 2025, and total energy demand returns to a midpoint historical doubling period of 12.5 years (the average of the 10–15 year rebound window).

6.1 Consumption Trajectory

| Year | Doublings since 2024 | Demand (TWh) | |------|----------------------|--------------| | 2024 | 0 | 167 000 | | 2037 | 1 | 334 000 | | 2050 | 2 | 668 000 | | 2062 | 3 | 1 336 000 |

(Table ignores efficiency gains from electrification for a conservative, supply‑side sizing.)

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7. Nuclear‑Only Supply Model

7.1 Reactor Math

• 1 GWᵉ Gen‑4 reactor → 8.76 TWh yr‑¹ at 100 % capacity factor.
• 2062 requirement: 1 336 000 TWh yr‑¹ → ≈ 152 500 reactors in steady state.
• Build rate (2025‑2062, linear deployment):
  152 500 ÷ 38 years ≈ 4 000 reactors per year globally.

(Down from the earlier 5 000 yr‑¹ estimate because the deployment window now stretches 38 years instead of 30.)

7.2 Policy Benchmarks

• COP 28 triple target translates to +780 GW (if baseline 2020 ≈ 390 GW). That is <100 1 GW units per year—two orders of magnitude lower than the theoretical catch‑up requirement, highlighting just how aggressive our thought experiment is.

7.3 Distributed vs Grid‑Centric

Small Modular Reactors (300 MW class) can be sited on retiring coal plants, using existing grid interconnects and cooling, vastly reducing new transmission needs. Ultra‑large “gigawatt corridors” become optional rather than mandatory, though meshed regional grids still improve resilience and market liquidity.

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8. Challenges & Unknowns

1. Finance: Even with IRA‑style credits, first‑of‑a‑kind Gen‑4 builds carry high cost of capital.
2. Supply Chain: 4 000 reactors a year means a reactor‑grade steel output roughly 20× today’s level.
3. Waste & Public Trust: Advanced reactors can burn actinides, but geologic repositories remain essential.
4. Workforce: Nuclear engineers, welders and regulators are already in short supply.
5. Competing Technologies: Cheap renewables + storage and prospective fusion could displace part of the projected load.

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9. Conclusions

Recent policy shifts—from Europe’s Net‑Zero Industry Act to the COP 28 nuclear declaration—signal that governments once again see nuclear energy as indispensable to deep decarbonisation. Yet meeting an exponential catch‑up in demand would require deployment rates an order of magnitude beyond today’s commitments, testing manufacturing capacity, finance and political resolve.

Whether the future follows the modest path now embedded in policy or the steeper curve sketched here, two convictions stand out:

• Electrification will dominate new energy demand.
• Scalable, dispatchable low‑carbon generation—likely including large fleets of Gen‑4 fission plants—must fill much of that gap if net‑zero targets are to remain credible.

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Last updated 1 June 2025.

@ dfa02707:41ca50e3

News

• Wallet of Satoshi teases a comeback in the US market with a non-custodial product. According to an announcement on X, the widely popular custodial Lightning wallet is preparing to re-enter the United States market with a non-custodial wallet. It is unclear whether the product will be open-source, but the project has clarified that "there will be no KYC on any Wallet of Satoshi, ever!" Wallet of Satoshi ceased serving customers in the United States in November 2023.

• Vulnerability disclosure: Remote crash due to addr message spam in Bitcoin Core versions before v29. Bitcoin Core developer Antoine Poinsot disclosed an integer overflow bug that crashes a node if spammed with addr messages over an extended period. A fix was released on April 14, 2025, in Bitcoin Core v29.0. The issue is rated Low severity.
• Coinbase Know Your Customer (KYC) data leak. The U.S. Department of Justice, including its Criminal Division in Washington, is investigating a cyberattack on Coinbase. The incident involved cybercriminals attempting to extort $20 million from Coinbase to prevent stolen customer data from being leaked online. Although the data breach affected less than 1% of the exchange's users, Coinbase now faces at least six lawsuits following the revelation that some customer support agents were bribed as part of the extortion scheme.
• Fold has launched Bitcoin Gift Cards, enabling users to purchase bitcoin for personal use or as gifts, redeemable via the Fold app. These cards are currently available on Fold’s website and are planned to expand to major retailers nationwide later this year.

"Our mission is to make bitcoin simple and approachable for everyone. The Bitcoin Gift Card brings bitcoin to millions of Americans in a familiar way. Available at the places people already shop, the Bitcoin Gift Card is the best way to gift bitcoin to others," said Will Reeves, Chairman and CEO of Fold.

• Corporate treasuries hold nearly 1.1 million BTC, representing about 5.5% of the total circulating supply (1,082,164 BTC), per BitcoinTreasuries.net data. Recent purchases include Strategy adding 7,390 BTC (total: 576,230 BTC), Metplanet acquiring 1,004 BTC (total: 7,800 BTC), Tether holding over 100,521 BTC, and XXI Capital, led by Jack Mallers, starting with 31,500 BTC.
  • Meanwhile, a group of investors has filed a class action lawsuit against Strategy and its executive Michael Saylor. The lawsuit alleges that Strategy made overly optimistic projections using fair value accounting under new FASB rules while downplaying potential losses.
• The U.S. Senate voted to advance the GENIUS stablecoin bill for further debate before a final vote to pass it. Meanwhile, the House is crafting its own stablecoin legislation to establish a regulatory framework for stablecoins and their issuers in the U.S, reports CoinDesk.
• French 'crypto' entrepreneurs get priority access to emergency police services. French Minister of the Interior, Bruno Retailleau, agreed on measures to enhance security for 'crypto' professionals during a meeting on Friday. This follows a failed kidnapping attempt on Tuesday targeting the family of a cryptocurrency exchange CEO, and two other kidnappings earlier this year.
• Brussels Court declares tracking-based ads illegal in EU. The Brussels Court of Appeal ruled tracking-based online ads illegal in the EU due to an inadequate consent model. Major tech firms like Microsoft, Amazon, Google, and X are affected by the decision, as their consent pop-ups fail to protect privacy in real-time bidding, writes The Record.
• Telegram shares data on 22,777 users in Q1 2025, a significant increase from the 5,826 users' data shared during the same period in 2024. This significant increase follows the arrest of CEO and founder Pavel Durov last year.
• An Australian judge has ruled that Bitcoin is money, potentially exempting it from capital gains tax in the country. If upheld on appeal, this interim decision could lead to taxpayer refunds worth up to $1 billion, per tax lawyer Adrian Cartland.

Use the tools

• Bitcoin Safe v1.3.0 a secure and user-friendly Bitcoin savings wallet for beginners and advanced users, introduces an interactive chart, Child Pays For Parent (CPFP) support, testnet4 compatibility, preconfigured testnet demo wallets, various bug fixes, and other improvements.
• BlueWallet v7.1.8 brings numerous bug fixes, dependency updates, and a new search feature for addresses and transactions.
• Aqua Wallet v0.3.0 is out, offering beta testing for the reloadable Dolphin card (in partnership with Visa) for spending bitcoin and Liquid BTC. It also includes a new Optical Character Recognition (OCR) text scanner to read text addresses like QR codes, colored numbers on addresses for better readability, a reduced minimum for spending and swapping Liquid Bitcoin to 100 sats, plus other fixes and enhancements.

Source: Aqua wallet.

• The latest firmware updates for COLDCARD Mk4 v5.4.3 and Q v1.3.3 are now available, featuring the latest enhancements and bug fixes.
• Nunchuk Android v1.9.68.1 and iOS v1.9.79 introduce support for custom blockchain explorers, wallet archiving, re-ordering wallets on the home screen via long-press, and an anti-fee sniping setting.
• BDK-cli v1.0.0, a CLI wallet library and REPL tool to demo and test the BDK library, now uses bdk_wallet 1.0.0 and integrates Kyoto, utilizing the Kyoto protocol for compact block filters. It sets SQLite as the default database and discontinues support for sled.
• publsp is a new command-line tool designed for Lightning node runners or Lightning Service Providers (LSPs) to advertise liquidity offers over Nostr.

"LSPs advertise liquidity as addressable Kind 39735 events. Clients just pull and evaluate all those structured events, then NIP-17 DM an LSP of their choice to coordinate a liquidity purchase," writes developer smallworlnd.

• Lightning Blinder by Super Testnet is a proof-of-concept privacy tool for the Lightning Network. It enables users to mislead Lightning Service Providers (LSPs) by making it appear as though one wallet is the sender or recipient, masking the original wallet. Explore and try it out here.

• Mempal v1.5.3, a Bitcoin mempool monitoring and notification app for Android, now includes a swipe-down feature to refresh the dashboard, a custom time option for widget auto-update frequency, and a

@ bf47c19e:c3d2573b

Originalni tekst

Autor: Dr Srđan Radulović, docent na Pravnom fakultetu Univerziteta u Prištini sa privremenim sedištem u Kosovskoj Mitrovici

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Rezime

Bitkoin kao virtuelni sistem za plaćanje predstavljen je krajem 2008. godine. Ipak, i danas nedostaju odgovori na neka od fundamentalnih pitanja. Jedno od tih pitanja je da li je Bitkoin zaista novac ili nešto sasvim drugo.

Bitkoin kao sistem primarno je dizajniran ne sa ciljem da se stvori „nova vrsta novca“ u najužem smislu već sa ciljem da se stvori platforma koja obezbeđuje da se transfer vrednosti izvrši na što je efikasniji način moguće. Ipak, iako to nije suštinski, bitkoin ima kapacitet da preuzme ulogu novca, a taj kapacitet je prepoznat i u sudskim odlukama. Prepoznajući i uvažavajući taj kapacitet, u ovom radu prezentujemo rezultate pretežno empirijskog istraživanja sprovedenog prethodno o nestabilnoj, ali opet izrazito deflatornoj prirodi bitkoina i njenom uticaju na novčane obligacije. Konkretno, iako bi ideja mogla biti kontroverzna iz više razloga, a volatilna priroda „cene” bitkoina je svakako jedan od njih, smatramo da periodična depresijacija njegove vrednosti ne znači da je bitkoin inflatoran. Naprotiv, bitkoin je deflatoran po prirodi. Različiti ugrađeni mehanizmi, ali i novi načini primene ističu tu prirodu. Dakle, u radu koristimo različite tehnike analitičkog metoda, najpre da izdvojimo različite deflatorne mehanizme, kako one programirane tako i one faktičke, a zatim i da ih opišemo. Dalje, u radu koristimo sintetičke metode, najpre generalizaciju i apstrakciju, da sumiramo rezultate istraživanja koji potvrđuju kao tačnu polaznu hipotezu da je bitkoin po prirodi izrazito deflatoran i pored njegove nestabilnosti, te da se može koristiti kao zaštitni mehanizam u monetarnim obligacijama.

Ključne reči: Bitkoin, novčane obligacije, ugovor, valutne klauzule, kriptovalutne klauzule, deflacija.

1. Uvod

Evolucija novca neraskidivo je povezana sa tehnološkim napretkom, iako je novac evoluirao značajno sporije zbog pravnih ili kulturnih ograničenja (Calcaterra, Kaal, Rao, 2020: 202-203). Prirodno, pojava digitalne tehnologije podstakla je ideju o generisanju imovine slične gotovini (1) koja se može deponovati i prenositi u digitalnom formatu. Zanimljivo, treća industrijska revolucija oživela je teoriju da su privatni entiteti, ako im se dozvoli, sposobni da obezbede barem jednako pouzdane „kovanice“ kao i one koje stvara država (Hayek, 1976: 24). Kako se kompleksna visokotehnološka infrastruktura koja omogućava potpuno transparentno i unapred određeno izdavanje postepeno razvijala, teorija se činila manje utopijskom (Syropyatov, 2021: 324). Treća industrijska revolucija donela je uzbudljive projekte od kojih su neki postali vrlo uspešni i oni su, u zavisnosti od istorijske interpretacije, inicirali četvrtu ili čak petu veliku promenu novca (Radulović, 2021: 30). Smatra se da DigiCash postavlja tehničku i ideološku osnovu za moderne digitalne valute (Turudić, Milić & Štulina, 2017: 193; Roth, 2015: 528). Ipak, nijedan od ranijih projekata, uglavnom zbog svoje neefikasne centralizovane infrastrukture (Cavalhiero, Cavalhiero, 2022: 209), nije postao ni približno uspešan kao najradikalniji (Hutchinson & Dowd, 2015: 357) – „Bitkoin: Peer-to-peer sistem elektronskog novca“ (Nakamoto, 2008: 1-9).

Bitkoin je prvi uspešan primer demonopolizacije tržišta fiat valuta kroz postepenu implementaciju novca koji izdaju privatni entiteti (Syropyatov, 2021: 319-320). Kako savremeno društvo teži decentralizovanim rešenjima za ljudsku interakciju (Calcaterra, Kaal, Rao, 2020: 193), u gotovo savršenom okruženju za svoj uspeh (Đorđević, 2018: 96), Bitkoin (2) se pokazao kao koristan ekonomski (Đorđević, 2018: 100), ali i pravni instrument (3).

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1. Za više o različitim imovinama sličnim novcu, videti: Karame & Androulaki, 2016: 11-13.

2. U ovom članku, kako bismo precizno razlikovali Bitkoin kao operativni softver, sistem ili mrežu od bitkoina kao digitalne imovine (podataka ili valute određene vrednosti), na Bitkoin kao sistem ćemo se pozivati koristeći veliko slovo „B“, a na bitkoin kao imovinu koristeći malo slovo „b“ (Antonopoulos, 2014: xvii, 18, 116; Cvetković, 2018: 120; Hutchinson & Dowd, 2015: 357 fn.).

3. Od juna 2021. godine, Salvador je postao prva zemlja koja je legalno priznala Bitkoin kao zakonsko sredstvo plaćanja u gotovo punom kapacitetu, podržala ga tehnički impresivnom digitalnom infrastrukturom (prilagođeni novčanik, specijalizovana vladina platforma za razmenu, različite besplatne aplikacije, pa čak i posebna mreža) i uvela razne podsticaje za promovisanje ovog prilično zanimljivog eksperimenta (Ley Bitcoin, Diario Oficial ES, 110/2021, Decreto No 57). Centralnoafrička Republika je bila druga nacionalna ekonomija koja je uvela Bitkoin kao zakonsko sredstvo plaćanja i rezervnu valutu (République Centrafricaine Cryptomonnaie, Journal Officiel CAF, 22/2022).*

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Strogo govoreći, Bitkoin nije ni roba ni valuta (Abramowicz, 2015: 3). Bitkoin nije novac. To je sistem plaćanja. Može se izneti čvrst argument da je Bitkoin zapravo institucija ili platforma koja stvara i sprovodi imovinska prava (Abramowicz, 2015: 3). Ali onda, sudska praksa je utvrdila da bitkoin ima sposobnost da preuzme ulogu novca (Raskin, 2015: 980). Dakle, ako ga posmatramo kao novac, on je oblik „spoljnjeg novca“ (Garrat, Wallace, 2018: 1887), što posebno cene korisnici novca koji su već naviknuti na bezgotovinska elektronska ekonomska okruženja (Dimitrijević, 2018: 224-225) (4).

Dubinska analiza potvrđuje da je vrednost bitkoina veoma volatilna kako u kratkim tako i u dužim periodima (Baur, Dimpfl, 2021: 2663–2683). Ipak, očekivano je da mlada valuta bude volatilna (Đorđević, 2018: 100). Spisak razloga za njenu volatilnost je dobro opisan (Mirjanich, 2014: 223; Syropyatov, 2021: 320-322, 326-327). Može se izneti i čvrst argument da je volatilnost bila veća na početku, što u krajnjoj liniji može biti dobra vest za potencijal Bitkoina da se razvije u (stabilniju) valutu (Baur, Dimpfl, 2021: 2668-2669).

Ipak, u vremenima kada njegova volatilna priroda dolazi do izražaja, izuzetno je važno razumeti šta deflatorna priroda bitkoina zapravo znači. Volatilnost je izraz koji opisuje koliko se vrednost sredstva razmene menja tokom vremena, ili preciznije, kojom stopom. Ako deflaciju posmatramo kao apresijaciju vrednosti izazvanu neskladom u ponudi i potražnji koja podiže kurs valute (Antonopoulos, 2014: 180), bitkoin je po prirodi deflatoran, ali i dalje volatilan. Različiti mehanizmi čine ga otpornim na inflaciju. To je tačno čak iako je bitkoin spekulativna imovina ili se barem može tumačiti kao takva (Šoja, Senarathne, 2019: 46) jer nije podržan nikakvom imovinom ili garancijom (Šoja, Senarathne, 2019: 46), niti predstavlja trenutno stanje ekonomije neke zemlje (Vareško, Deković, 2022: 91). Konkretno, vrednost bitkoina nije imuna na sopstvenu depresijaciju, iznenadnu apresijaciju i različite vrste manipulacije. U ovom trenutku, gotovo je nemoguće sprečiti ih jer Bitkoin sistem funkcioniše kao slobodno i u suštini neregulisano (5) tržište. Vremenski trošak korišćenja Bitkoina (Garrat, Wallace, 2018: 1889) je stvarna opasnost i, pored toga, vrednost bitkoina je gotovo potpuno nepredvidiva (Garrat, Wallace, 2018: 1896; Syropyatov, 2021: 320). To dodatno otežava odbranu hipoteze o njegovoj deflatornoj prirodi.

Bilo kako bilo, čak i kada njegova cena dramatično padne, to ne znači da je bitkoin inflatoran. Ovo je ključno razumeti ako želimo da razjasnimo svojstva i pravnu prirodu novčanih obaveza nominovanih u bitkoinu, a posebno ako nameravamo da ih pravilno regulišemo. U tom smislu, ovaj rad je samo uvod u ovu temu.

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4. Elektronski novac je oblik digitalnog novca i faza u njegovoj evoluciji, a isto su i kriptovalute; ipak, kriptovaluta nije elektronski novac i ne treba je brkati sa elektronskim novcem (Dimitrijević, 2018: 228).

5. Iako postoje nacionalni propisi (Cvetković, 2018: 127-128; Zebec, 2018: 90-93), kao i međunarodni propisi (Cvetković, 2018: 126-127; Mijatović, 2022: 95-100), Bitkoin, i kao sistem i kao valuta, apsolutno je imun na nacionalne i međunarodne propise. Međutim, postoji doza optimizma da stabilni novčići, konceptualno govoreći, mogu da naglase da je optimizacija kreiranja politike pod vođstvom tehnologije zapravo moguća u složenim monetarnim sistemima (Calcaterra, Kaal, Rao, 2020: 194). Ali, adekvatan model prvo mora biti otkriven od strane sudske prakse (Raskin, 2015: 972), a zatim potvrđen u sigurnijem okruženju, kao što su „Sandbox“ ili „Innovation Hubs“ (Jović, Nikolić, 2022: 48-51).

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2. Fiksna ponuda

Bitkoin je softver otvorenog koda koji se koristi decentralizovanim dizajnom mreže (Caetano, 2015: 103-104; Đorđević, 2018: 97) (6). Tačnije, to je elektronski, dvosmerni, decentralizovani (Đorđević, 2018: 97) platni sistem zasnovan na kriptografskom dokazu (Nakamoto, 2008:1) koji je razvijen sa ciljem isključivanja ovlašćenih posrednika kroz koncept „digitalnog poverenja“ (Cavalheiro, Cavalheiro, 2022: 207; Horvatić, Tafra: 2022 108-109; Syropyatov, 2021: 325) bez kompromitovanja sigurnosti i privatnosti tokom transakcije (7), po nižim troškovima i što je brže moguće (Roth, 2015: 529).

Da bi prenos vrednosti bio moguć, vrednost je morala biti povezana sa sredstvom unutar sistema. Kako je sistem potpuno digitalizovan, ovo sredstvo je moglo postojati samo u digitalnom obliku, tj. virtuelne novčane jedinice predstavljaju vrednost (Đorđević, 2018: 97). Uobičajena je zabluda da je naziv ovog sredstva Bitkoin. Bitkoin je peer-to-peer monetarna mreža, to je program, softver, platforma, ali ne valuta. Bitkoin kao valuta ne postoji izvan ili bilo gde unutar mreže (Cvetković, 2018: 124). Osnovna jedinica ovog platnog sistema je satoši, digitalizovani deo informacije koji je trajno povezan sa digitalnom platformom (Antonopoulos, 2014: xvii, 18, 116). Ipak, iako tehnički netačno, postalo je norma koristiti bitkoin kao jedinicu sa odnosom prema Satošiju od 1:100.000.000 (Radulović, 2021: 32).

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6. Postoji prirodna tendencija ka monopolu u Mreži (Hutchinson Dowd, 2015: 364-368). Ipak, mogućnost stvaranja apsolutnog monopola je samo teorijska. Kako cela zajednica entuzijasta aktivno koristi prostor preostao za poboljšanje Mreže, postoji niz predloga protokola za rudarenje („getblocktemplate“ je najuspešniji) koji sprečavaju centralizaciju.

7. Privatnost i sigurnost nisu sinonimi. Ovo su dva različita aspekta efikasnosti platnih sistema, svaki sa svojim prepoznatljivim individualnim karakteristikama (Karame, Androulaki, 2016: 14-17).

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Da bismo razumeli ovaj koncept, možemo uporediti bitkoin sa tradicionalnim načinima izvršavanja novčanih obaveza (Cvetković, 2018: 121; Đorđević, 2018: 100-102). Po svojim karakteristikama, bitkoin je u suštini negde između zlata i dolara (Syropyatov, 2021: 323) ali primarna ideja je bila da se stvori digitalna imovina koja imitira zlato. Najlakši način da se novostvorenoj imovini da vrednost je da se učini retkom. Stoga su protokoli Bitkoin mreže postavljeni tako da ukupna ponuda bude pažljivo izračunata, konačna i ograničena (8). Fiksiranjem ukupnog broja bitkoina u opticaju na 21.000.000, početni izdavalac i pronalazač rešio je dva glavna problema – dodatno izdavanje i falsifikovanje (Garrat, Wallace, 2018: 1887). Dakle, „štampanje“ novog novca u Bitkoin mreži iznad očekivane stope izdavanja je nemoguće što znači da bitkoin kao valuta nije podložan inflaciji (Antonopoulos, 2014: 2).

Budući da je Bitkoin softver, on nije „ništa više“ od skupa unapred programiranih pravila. Kako se ta pravila mogu ažurirati, tehnički postoji mogućnost promene izvornog koda kako bi se omogućilo kvantitativno povećanje ponude novčića. Ipak, kako mi to vidimo, ovo je samo teoretski moguće. Zašto?

Bitkoin je konstruisan na revolucionarnoj tehnologiji koja se zove blokčejn. Blokčejn je digitalna baza podataka koja sadrži informacije o svakoj promeni u mreži (Cvetković, 2020: 128; Teomete Yalabik, Yalabik, 2019: 37). Jednom uneti i potvrđeni, podaci o promeni koja se dogodila trajno se čuvaju u bloku, koji se zatim povezuje sa postojećim lancem gde su blokovi ravnomerno poređani, hronološki vremenski obeleženi, suštinski nepromenljivi (Cvetković, 2020: 129; Catanzaro & Kain, 2020: 52; Horvat, Tafra, 2022: 108) (9). Lanac dodatih blokova distribuira se kroz mrežu, a upravljanje njime je u potpunosti zasnovano na konsenzusu (Radulović, 2021: 36) što znači da niko ne vrši kontrolu nad lancem (Magnuson, 2022: 883) (10). Ovo je vrlo važna tačka jer svaki blok u lancu sadrži određeni broj bitkoina, a ukupna ponuda se postepeno povećava konsenzusnim dodavanjem novih blokova (11), ali ne više od 13.230.000 njih.

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8. Procenjuje se da u svetu postoji 171.000 metričkih tona zlata (Đorđević, 2018:101), ali to je samo pretpostavka. S druge strane, Bitkoin sistem se ne zasniva ni na kakvoj sličnoj pretpostavci. Kreatori sistema su otišli korak dalje i ponudili kriptografsko uverenje o njegovoj ograničenoj ponudi (Cvetković, 2018: 121). To znači da nema opasnosti od bilo kakvih neočekivanih otkrića ove robe koja može doneti nestabilnost monetarnom režimu (Cachanosky, 2019: 371). Takođe, za razliku od zlata, nemoguće je manipulisati „čistoćom“ bitkoina i tako kompromitovati ideju o njegovoj ograničenoj ponudi (Cvetković, 2018:121).

9. Bitkoin koristi blokčejn kao javnu knjigu koja sadrži potpuni zapis svih javnih transakcija u istoriji Bitkoin mreže (Cavalhiero, Cavalhiero, 2022: 209). U tom kontekstu, zanimljivo je da je bitkoin koji je zaplenjen u slučaju „Silk Road“ prebačen u FBI novčanik (lFfmbHfnpaZjKFvyilokTjJJusN455paPH) od strane čvorova putem regularne procedure verifikacije na Bitkoinovom blokčejnu; štaviše, ovaj transfer ali i kasnija aukcija novčića i njihov transfer kupcima je potpuno transparentan i može se pratiti jednostavnom proverom promena u lancu (Raskin, 2015: 982-983).

10. Satoši Nakamoto se povukao iz javnosti u aprilu 2011. godine, prepuštajući odgovornost razvoja koda i mreže rastućoj grupi volontera (Antonopoulos, 2014: 4).

11. Po analogiji sa Fridmanovim "Ostrvom kamenog novca", Bitkoin funkcioniše putem decentralizovane (digitalizovane) kolektivne memorije (Hutchinson & Dowd, 2015: 358).

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U tradicionalnim ekonomskim sistemima, monetarna vlast garantuje kvalitet, količinu i vrednost novca, dok banke i drugi posrednici vrše kontrolu nad transakcijama (Pernice, 2021: 770). Bitkoin funkcioniše kao protokol, tj. skup unapred programiranih pravila (Raskin, 2015: 971) bez arbitra (Abramowicz, 2015: 3). U Bitkoin mreži ne postoji centralna vlast bilo koje vrste koja nadzire i upravlja platformom (Catanzaro, Kain, 2020: 52; Teomete Yalabik, Yalabik, 2019: 37). Prvo, to znači da ne postoji jedna kritična tačka (eng. single point of failure) (Hutchinson & Dowd, 2015: 359). Drugo, nema potrebe za trećom pouzdanom stranom za sprovođenje procesa registracije i/ili garantovanje tačnosti stanja transakcija, sve to zato što se poverenje u mrežu zasniva na kriptografiji kao nauci (12) (Cvetković, 2018: 121; Dinić, 2014: 110; Đorđević, 2018: 97; McGinnis, 2020: 60; Raskin, 2015: 974). Ovde dolazi do izražaja genijalni koncept: upravljanje je dodeljeno samoj Mreži, zapravo računarima koji vrše proces verifikacije transakcija (Đorđević, 2018: 98; Hutchinson & Dowd, 2015: 360). Iz toga sledi da je sistem gotovo u potpunosti samoregulišući i potpuno decentralizovan. Dalje, ne samo pokrenute transakcije već i svaka druga promena u mreži mora biti rezultat konsenzusa među svim pojedinačnim učesnicima u mreži (naglasak autora). Dakle, da bi se promenio izvorni kod nakon zatvaranja obavezne debate u zajednici, potrebno je da većina čvorova u mreži izrazi svoje odobrenje. Sa desetinama hiljada čvorova koji pokreću mrežu, može se sigurno pretpostaviti da je gotovo nemoguće postići konsenzus za promenu osnovnog protokola koda, posebno dela koji ovaj sistem čini superiornim u odnosu na većinu kripto projekata (13).

Ovaj protokol čini Bitkoin superiornim u odnosu na druge kripto projekte. Naime, ranih 1970-ih postalo je jasno da možda ne postoji bilo kakva prednost niti potreba (barem više ne) za neupitnim i univerzalno prihvaćenim državnim prerogativom proizvodnje novca, te da bi to moglo biti štetno za razvoj nacionalne ekonomije ako se ne podržava valutna konkurentnost (Hayek, 1976: 20). Posebno se ovo odnosi na nacionalne ekonomije koje su potpuno zavisne od strane valute što je bio slučaj u Salvadoru (potpuno zavisan od USD).

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12. Poverenje u mrežu zavisi od funkcionisanja većine rudarskih računara u mreži. Logičan zaključak koji proizilazi iz ove činjenice ukazuje na to da povećani obim bitkoin transakcija implicira veću sigurnost; povećanje prometa mreže povećava poverenje (Dinić, 2014: 110).

13. Posmatrajući istoriju pokušaja iniciranja čak i „manjih“ tehničkih promena (protokola) oličenih u Bitkoin "hard forkovima" (Bitcoin XT, Bitcoin Classic, SegWit), možemo videti da nijedan od ovih projekata (čak ni „BitcoinCash“) nije nadmašio uspeh i stopu prihvatanja Bitkoin forka.

14. Prateći više od 2000 godina dugu istoriju državnih prerogativa u izdavanju novca, nobelovac Hayek je nabrojao legitimne razloge za dodeljivanje monopola izdavanja novca državnim institucijama (Hayek, 1976: 21-26).

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Možemo ići čak i dalje. Mogu se izneti snažni argumenti koji podržavaju tvrdnju da se apsolutna državna kontrola nad novcem može tumačiti čak i kao oblik ugnjetavanja koji je ništa manji od uskraćivanja građanskih sloboda (McGinnis, 2020: 60). Iako je „komplementarna valuta“ (Pernice, 2021: 769), bitkoin je najmoćnije oružjeu onome što se čini kao „fundamentalni napad“ na ostatke ove zastarele ugnjetavajuće ideje u modernom monetarnom poretku (McGinnis, 2020: 61).

Ako postoji bilo kakva istina u ovoj smeloj tvrdnji, onda je ograničena ponuda najvažnija karakteristika koja čini bitkoin, ako ne superiornim, onda barem konkurentnim fiat valutama [15]. Ovo je posebno tačno ako imamo u vidu kolektivno ukidanje monetarnog aranžmana iz Breton Vudsa i zlatnog standarda koji su, prema ekonomskim ekspertima (Syropyatov, 2021: 324), započeli inflatornu eru u ekonomskoj istoriji. Stoga, ne postoji ekonomska ili pravna logika koja bi opravdala transformaciju sistema iz „digitalnog zlata“ u nejedinstveni kvazi-demokratski fiat monetarni poredak, posebno među čvorovima koji su generalno pravi entuzijasti „decentralizovanih finansija“ [16].

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1. Ideja Bitkoina duboko je ukorenjena u Austrijskoj ekonomskoj školi mišljenja koja je poznata po oštroj kritici državnih intervencija koje zapravo pogoršavaju ekonomske i poslovne cikluse i uzrokuju značajnu inflaciju (Zebec, 2018:89).

2. Bitkoin mreža ne nameće protokole i pravila članovima koji se ne slažu sa njima. Omogućava im da se bezbedno odvoje iniciranjem takozvanog "hard forka". Postoji čak i poseban deo softvera nazvan Git ugrađen u mrežu, kreiran da omogući korisnicima forkovanje izvornog koda (Caetano, 2015:104-105). Rezultat je više od stotinu (manje-više poznatih i uspešnih) projekata u kripto prostoru koji su započeti na ovaj način – kao Bitkoin fork (Caetano, 2015: 104).

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3. Halving

Kreator(i) Bitkoina su imali za cilj da stvore digitalnu imovinu koja se ponaša kao zlato [17]. Stoga su doneli ideološku odluku da ne puste sav bitkoin u opticaj odjednom (Cachanosky, 2019: 371). Ukupan broj bitkoina je unapred određen ali je raspored njegovog stvaranja fiksiran (Raskin, 2015: 971) jer je mreža postavljena tako da može postupno povećavati ponudu novčića po opadajućoj stopi kroz proces nazvan „rudarenje“.

Odgovornost dodavanja verifikovanih transakcija u blok i ažuriranja lanca blokova poverena je posebnoj grupi učesnika mreže – rudarima. Da bi izvršili dodeljeni zadatak, rudari moraju rešiti niz složenih matematičkih problema što zahteva ogromnu računarsku snagu. Da bi ih podstakao da svoju računarsku snagu stave na raspolaganje za potrebe mreže, u Bitkoin protokol je ugrađen sistem „dvostruke nagrade“. Prvo, rudar prikuplja mali procenat svake transakcije koja je upisana u novokreirani blok. Pored toga, „pobednički“ rudar dobija novi bitkoin od mreže kao nagradu kada se transakcija „coin base“ postavi u novi blok (Antonopoulos, 2014: 115: Hutchinson & Dowd, 2015: 361; Nakamoto, 2008:4). To znači da izdavalac bitkoina nije banka, vlada, nadzorna institucija, pojedinac ili kompanija; izdavaoci su sami korisnici (Dinić, 2014: 110). Trećeg januara 2009. godine, iskopan je „genesis blok“ (Horvatić, Tarfa, 2022:107-108). Rudar(i) ovog bloka su dobili 50 bitkoina. Od tog trenutka, svaki put kada je kreiran novi blok, rudar je dobijao 50 novostvorenih bitkoina.

Ukupna ponuda raste postepeno ali ne istom brzinom. Kao što je već napomenuto, svaki blok sadrži određeni broj bitkoina, a ukupna ponuda novčića se povećava dodavanjem novih blokova. Međutim, blokovi nemaju isti kapacitet, tj. ne sadrže istu količinu bitkoina. Mreža je unapred programirana, najpre da smanji nagradu rudarima za 50% nakon svakih 210.000 dodatih blokova, ali i da prilagodi složenost matematičkog problema količini koja je već iskopana, tako da novi blok od 1MB koji sadrži otprilike 4000 upisanih transakcija (Horvatić, Tafra, 2022:109) nastaje u proseku svakih deset minuta (Antonopoulos, 2014:2, 177-178; Đorđević, 2018:97-98; Raskin, 2015:976; Roth, 2015:528). Jednostavna matematika pokazuje da se nagrada za rudarenje smanjuje otprilike svake četiri godine. Od 11. maja 2020. godine, nagrada za rudarenje po bloku iznosi 6.25 bitkoina. Stopa po kojoj se novi blokovi (pa samim tim i bitkoini) dodaju postojećem lancu postepeno se smanjuje (dok ne dostigne broj od 21.000.000).

Čin smanjenja rudarske nagrade za polovinu naziva se „halving“. Ideja iza procesa halvinga bila je da se bitkoin oponaša zlato čak i kada je u pitanju dinamika njegovog iskopavanja (Đorđević, 2018: 98). Sa ekonomskog i pravnog stanovišta, kroz proces halvinga, deflatorna priroda bitkoina dolazi do izražaja jer se već ograničena ponuda novčića dodatno smanjuje. Radi poređenja, u vreme pisanja ovog rada, više od 18.5 miliona (od 21 miliona) bitkoina je pušteno u opticaj, ali će poslednji bitkoin biti pušten u opticaj kada se iskopa blok 13.230.000. Prateći dinamiku Mreže, procenjuje se da će se to dogoditi otprilike 2137. godine (Antonopoulos, 2014:178; Raskin, 2015:976). To znači da je procenat inflacije kontrolisan, ne samo kroz konačnu ponudu već i kroz 64 događaja halvinga, nakon čega se stopa izdavanja novog bitkoina smanjuje.

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17. "Bitkoin pravilo, logo i tekstualni opis sugerišu da je projekat inspirisan zlatnim standardom. Uzmite u obzir, na primer, da se Bitkoini proizvode kroz proces nazvan „rudarenje“ sa opadajućim prinosima koji podseća na vađenje zlata iz podzemlja, te da je logo zlatnik" (Cachanosky, 2019: 371).

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4. Superhalving

Bitkoin je prvi put priznat kao novac na osnovu regulatornog stanovišta "Mreže za suzbijanje finansijskog kriminala" (Financial Crimes Enforcement Network) (Mirjanich, 2014: 214), zatim u sudskoj praksi u čuvenim slučajevima „Silk Road“ (Raskin, 2015: 981-982; Zebec, 2018: 89) i u slučaju SEC protiv Shaversa (Raskin, 2015: 979-980). Ipak, iako nije pogrešno smatrati bitkoin valutom, kao što je već napomenuto, mi volimo da razmišljamo o Bitkoinu kao o sistemu plaćanja. To je bila prvobitna ideja (Syropyatov, 2021: 325) i Bitkoin je zapravo korišćen u tom svojstvu u prvim godinama, uglavnom za male online transakcije (Vareško, Deković, 2022: 91).

Pravi potencijal ovog sistema, koji je sam po sebi impresivan, može se u potpunosti shvatiti samo ako se posmatra kao deo budućeg decentralizovanog finansijskog sistema (DeFi). U svojim brojnim predavanjima i intervjuima, Antonopoulos pruža sjajnu analogiju upoređujući DeFi prostor sa internetom iz ranih dana. U toj analogiji, Bitkoin se poredi sa elektronskom poštom koji je bio prva i (dugo vremena) jedina funkcionalna aplikacija na internetu. U DeFi prostoru, Bitkoin je prva i (na mnogo načina) najvažnija, ali ne i jedina funkcionalna aplikacija. Upravo način na koji Bitkoin mreža koristi tehnologiju distribuirane knjige (eng. distributed ledger) nije ništa drugo do jedan mogući prikaz istinskog potencijala neverovatnog dela računarskog inženjeringa zvanog blokčejn. Imajući u vidu bezbroj funkcija interneta danas, ova analogija nudi najbolji uvid u razmere i potencijal DeFi prostora.

Korišćenje ove i drugih srodnih tehnologija svakako prevazilazi stvaranje različitih platnih, pa čak i finansijskih sistema. Blokčejn tehnologija i kriptovalute, protokoli decentralizacije uopšte, deo su dugoročnog ciklusa proliferacije i imaju priliku i kapacitet da dalje prošire inovacije i mogućnosti koje su započete u ranim godinama interneta (Calcaterra, Kaal, Rao, 2020: 204; Syropyatov, 2021: 320). Sa pravnog stanovišta, nema sumnje da će blokčejn tehnologija reorganizovati svaku aktivnost koja zahteva javni prikaz informacija (Cvetković, 2018: 122). Takođe ima kapacitet da reformiše sve aktivnosti oko donošenja odluka od strane sporog i skupog državnog aparata kroz „peer-to-peer“ odlučivanje (Abramowitz, 2015: 7-9). Predstavlja izazov konvencionalnoj pretpostavki da su centralizovane institucije, poput zakonodavnih tela i sudova, potrebne za donošenje zakona dovoljne jasnoće da bi bili primenljivi (Abramowitz, 2015: 9). Konačno, dokazano je da je blokčejn tehnologija suštinska za budući razvoj današnjih opšteprihvaćenih ideja, poput IoT (Interneta stvari) i IoE (Interneta svega) (Horvat, Tafra, 2022: 108). Dakle, koliko god da su impresivni, čak i DeFi prostor, IoT ili IoE biće samo fragmenti, ili aplikacije takozvanog „Web 3.0“."

„Međutim, ako to posmatramo strogo sa monetarnog stanovišta, verujemo da je postojeći centralizovani finansijski sistem zastareo, neefikasan, nepouzdan i nepotrebno skup; kao takav, biće zamenjen efikasnijom ekonomskom strukturom. Naučno je dokazano da sadašnja veličina tržišta kriptovaluta i njegova rastuća snaga imaju kapacitet da poremete čitav finansijski sistem (Vareško, Deković, 2022:91). Sa ideološkog stanovišta, DeFi sistem izgleda kao najočiglednija zamena. Međutim, u ovom trenutku, više od decenije nakon što je Bitkoin mreža postala potpuno operativna, DeFi struktura zvuči pomalo futuristički. Ipak, obrisi sistema su sada jasno vidljivi. Određeni delovi sistema su više nego funkcionalni, a efekti koje stvaraju oživljavaju osnovnu ideju DeFi-ja. To je vidljivo u procesu zvanom „superhalving“.

Prema našem saznanju, termin superhalving je prvi put korišćen u biltenu koji je svetski poznati stručnjak za kriptovalute Teeka Tiwari poslao svojim čitaocima i pretplatnicima. Da bi objasnio svoje otkriće, koristio je analogiju sa halvingom. Superhalving se odnosi na smanjenje broja novčića u opticaju ali, za razliku od halvinga, superhalving nije vezan za Bitkoin kod. Prema gospodinu Tiwariju, to je hipotetička situacija povezana sa mogućnostima koje rudari sada imaju u DeFi ekosistemu (Tiwari, 2021).

Rudari obezbeđuju računarsku snagu neophodnu za funkcionisanje Bitkoin blokčejna, a podsticaj za raspodelu njihovih računarskih resursa Mreži dolazi u obliku novoizdatog bitkoina. Donedavno, rudari nisu bili u poziciji da zadrže novčiće kojima su nagrađivani. Da bi ostali u „trci“ za novim novčićima u sve konkurentnijem okruženju, nisu imali drugog izbora osim da prodaju zarađene novčiće kako bi finansirali nadogradnju računarskih resursa za dalje operacije. To je bila njihova jedina opcija jer vlasništvo bilo koje vrste kripto-imovine nije značilo ulaz u (tradicionalne) izvore kapitala (Tiwari, 2021).

Danas je situacija izvanredno drugačija. Prvo, finansijske institucije su sada visoko uključene u kripto-tržište (Magnuson, 2022: 884). One nude finansijske usluge i stvaraju visoko profitabilne prostore za svoje klijente u vezi sa Bitkoinom, Ethereumom i drugim projektima. Drugo, fondovi kojima se trguje na berzi, kripto-menjačnice i rudari, svi koji služe industriji kriptovaluta, razvili su se u velike industrije (Magnuson, 2022: 884). Prema Tiwariju, rudari su po prvi put u mogućnosti da prikupe novac putem tržišta kapitala. Prema njegovoj studiji, rudari i kripto-kompanije su već prikupili više od deset puta više kapitala za svoje buduće poduhvate nego prethodnih godina (Tiwari, 2021).“

Nadalje, rudari danas čak ne moraju da imaju pristup investicionim bankama, kapitalnim fondovima ili drugim odabranim institucijama ili individualnim investitorima. Slično Bitkoinu, DeFi je monetarno inkluzivan prostor u apsolutnom smislu. Preko alternativnog decentralizovanog modela finansija zasnovanog na blokčejnu, moguće je zaobići nepotrebne posrednike i ući u virtuelne peer-to-peer kapitalne odnose. Moguće je pozajmljivati, štedeti, zakazivati plaćanja, trgovati, kupovati osiguranje, investirati, dokazivati vlasništvo, pa čak i automatski rebalansirati portfolio na finansijskom tržištu koje je uvek otvoreno, potpuno decentralizovano, izuzetno sigurno i gotovo potpuno imuno na ljudske greške. Pomoću inovativnog investicionog aparata, ovaj finansijski ekosistem čini prikupljanje kapitala jednostavnim, neformalnim, direktnim i samim tim jeftinijim za rudare širom sveta, i svakoga ko želi da finansira svoje buduće ideje i poduhvate. Kroz kriptovalute, pametne ugovore i tokene kreirane na različitim blokčejn platformama za potencijalne investitore i finansijere, bez obzira na to gde se trenutno nalaze, rudari mogu obezbediti neophodan kapital za ažuriranje svoje opreme za rudarenje ili druge aktivnosti. To dalje znači da rudari ne moraju odmah da prodaju bitkoin koji su dobili kao nagradu za rudarenje. Oni ga sada mogu zadržati (što najčešće i čine) sa namerom da alociraju svoj portfolio, realno očekujući da će mu cena porasti. To znači još manje novčića u opticaju, posledično smanjenu ponudu i konačno nižu stopu inflacije. Ukratko, ovo je proces superhalvinga.

Smatramo da je ideja superhalvinga veoma zanimljiva. Ipak, iako je dobro razrađena, verujemo da se ovaj fenomen može i treba tumačiti u širem smislu nego što je sugerisao Tiwari. On ne mora biti strogo povezan samo sa izgradnjom novog kripto-finansijskog digitalnog sveta i prilikama u njemu. Druge okolnosti mogu stvoriti sličan efekat i uzrokovati smanjenje prometa bitkoina. One bi trebalo da se istražuju pod istim imeniocem, tj. superhalvingom. U tom kontekstu, možemo pomenuti dve okolnosti koje imaju najveći deflatorni uticaj na tržište.

Prvo, u tehničkom smislu, Bitkoin se može tumačiti na različite načine: kao softver, kao mreža, kao aplikacija. U ekonomskom smislu, bitkoin može preuzeti ulogu valute, platnog sistema, (digitalne) imovine, pa čak i ulogu robe ili sirovine (Cvetković, 2018:129-133; Pernice, 2021:772). Uzimajući u obzir njegovu primenljivost i ulogu generalno, različite studije su nedvosmisleno potvrdile da se bitkoin konstantno razvijao (18) (Vareško, Deković, 2022:91). Postao je raznovrsniji i globalizovaniji (Karabulut, Sari, 2022: 56). S obzirom na to da je ideja iza stvaranja ovog sistema bila da se transfer vrednosti učini što efikasnijim, odnosno da platni sistem bude efektivan, sve veća rasprostranjenost bitkoina potvrđuje da se on može okarakterisati kao kolektivno priznati medij razmene (Pernice, 2021:777). Međutim, u ovom trenutku postoje kripto-projekti koji omogućavaju efikasniju, bržu i jeftiniju alokaciju vrednosti; stoga se bitkoin retko koristi u tu svrhu. Ipak, bitkoin ima niz superiornih karakteristika (redak je; ima ograničenu ponudu i predodređenu smanjenu stopu izdavanja; omogućava privatnost, poverljivost i stoga je imun na zaplenu; lako je 'prenosiv', lako se skladišti i zahteva malo ili nimalo održavanja; prilično je jednostavan za korišćenje i nije ničija obaveza). Zahvaljujući ovim karakteristikama, bitkoin se ponaša kao digitalno zlato i uglavnom se koristi kao sredstvo očuvanja vrednosti. Drugim rečima, uprkos očiglednoj volatilnosti, i deflatorni dizajn Bitkoina i njegova decentralizovana i globalna priroda poboljšavaju njegove osobine sredstva očuvanja vrednosti (Baur, Dimpfl, 2021:2681). Stoga, bitkoin se većinom traži više kao imovina nego kao valuta, pa se uglavnom ponaša kao sredstvo očuvanja vrednosti (Đorđević, 2018:100). Ovo posebno postaje očigledno u vremenima ekonomskih, geopolitičkih ili zdravstvenih kriza, kao što je ona izazvana pandemijom SARS-CoV-2, ili tekuća energetska kriza.

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18. To je nedvosmisleno potvrđeno sveobuhvatnom studijom o broju patenata strogo vezanih za Bitkoin i njegov lanac (Cavalhiero, Cavalhiero, 2022: 211-216).

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Zbog toga pojedinci, velike finansijske institucije, kompanije, pa čak i neke vlade uključuju određeni iznos bitkoina u svoje portfelje kako bi zaštitile svoju štednju i investicije. Oni se osiguravaju od inflacije jer se očekuje da se imovina poput zlata ponaša suprotno akcijama i fiat valutama u vremenima kriza. Naučna istraživanja potvrđuju da diverzifikacija portfelja putem bitkoina (ako su uključena i tradicionalna sredstva) može biti odličan izbor ulaganja čak i za one investitore koji nisu skloni preuzimanju viših rizika (Syropyatov, 2021:323; Šoja, Senarathne, 2019:54-58). To znači da svi ti entiteti ne kupuju bitkoine (ili ih u ređem slučaju rudare) sa namerom da ih koriste za plaćanje ili prenos vrednosti. Oni preferiraju dugoročno držanje umesto vršenja transakcija i puštanja u opticaj, što dovodi do ukupnog smanjenja ponude. Budući da je ovo prirodna tendencija u mreži, sigurno je reći da je i ovo vrsta superhalvinga.

Na kraju, postoji još jedna tendencija u kripto ekosistemu koja se može tumačiti kao oblik superhalvinga, a time i deflatorni mehanizam, iako je prilično slučajna. Kao što je već napomenuto, bitkoin je prilično jednostavan za korišćenje, skladištenje i održavanje. Međutim, neophodan je određeni stepen praktičnog znanja. Bitkoin može postati nedostupan ako se 'novčanikom' (hardverskim ili online) loše upravlja. Najčešći način da se bitkoin učini nedostupnim jeste da se izgubi.

U stvari, nemoguće je izgubiti bitkoin jer su novčići trajno povezani sa mrežom. U svakom trenutku, učesnici Mreže mogu odrediti na kojoj se adresi nalazi svaki pojedinačni novčić. Ali tada, privatni ključevi koji omogućavaju pristup novčićima sačuvanim na određenoj adresi su „simbol“ vlasništva (Raskin, 2015: 977, 1002) i oni se mogu izgubiti (Hutchinson Dowd, 2015:361). Bitkoin „novčanici“, naročito hardverski, takođe se mogu izgubiti. Prema procenama, oko 20% bitkoina koji su pušteni u opticaj postalo je trajno nedostupno (Mijatović, 2022:103). Dalje, razumno je očekivati da će se više bitkoina „izgubiti“ tokom vremena; stoga, stvarna ponuda bitkoina, iako nepoznata zbog rizika od trajnog gubitka (Hutchinson & Dowd, 2015: 361), definitivno je manja nego što je prethodno programirano i postepeno će se smanjivati. To čini bitkoin još deflatornijim nego što se ranije predviđalo.

5. Zaključci

Dobro je poznata činjenica da je novac obično, ali ne nužno, podložan državnom monopolu (Pernice, 2021: 773). Do nedavno, šira javnost nije bila spremna da preispituje dogmu o povlašćenosti vlada da „proizvode” novac (Hayek, 1976:20). Danas, šira javnost nije voljna da bezuslovno prihvati koncept lex monetae i državni monopol na izdavanje novca. Konkurentske ideje su dobro formulisane, a relevantni izvori su „na samo nekoliko klikova”. Ipak, ideja predstavljena u belom papiru pod naslovom „Bitkoin: Peer-to-peer sistem elektronskog novca" je nesumnjivo najinspirativnija. Nedavno sprovedena sveobuhvatna statistička analiza potvrđuje da je ovo opšte mišljenje u akademskim krugovima (Karabulut, Sari, 2022: 58-66). Čak i kritičari tehno-ekonomske arhitekture Bitkoina slažu se da Bitkoin nedvosmisleno demonstrira praktičnu mogućnost potpuno decentralizovanog monetarnog sistema zasnovanog prvenstveno na distribuiranom poverenju (Hutchinson & Dowd, 2015:380).

Iako se stabilni novčići nazivaju „Hayekovim novcem” (Syropyatov, 2021: 322-323), oni koji su podržani plemenitim metalima (kao što je zlato), ali prvenstveno oni koji su podržani matičnim fiat valutama, ne mogu se koristiti za konačnu implementaciju Hayekove teorije u realnoj ekonomiji (Syropyatov, 2021: 328). Verujemo da je upravo Bitkoin pravo oličenje stare ideje o izdavanju različitih vrsta novca koje predstavljaju različite apstraktne jedinice koje fluktuiraju u svojoj vrednosti jedna u odnosu na drugu (Hayek, 1976: 25) i koje se jasno mogu razlikovati po različitim denominacijama između kojih bi javnost mogla slobodno da bira (Hayek, 1976: 21). Ceo Bitkoin sistem promoviše ovu ideju na način kao nijedno drugo sredstvo nalik novcu nikada ranije. Štaviše, oslanjajući se isključivo na napredne tehnološke koncepte, Bitkoin ne zavisi od bilo kakve državne dozvole i nije ograničen državnim granicama (19). Ovaj intrigantni sistem je bezbroj puta testiran na stres. Iako nije u potpunosti stabilan i daleko je od savršenog, sve turbulencije su sistem učinile samo otpornijim. To se ne može reći za njegove direktne konkurente – valute koje izdaju države. Zapravo je sasvim suprotno. U kratkom vremenskom periodu, posebno od trenutka kada je Svetska zdravstvena organizacija prepoznala izbijanje pandemije SARS-CoV-2 izazvane novim tipom koronavirusa, bitkoin je transformisan iz potkulturnog fenomena u najpopularniju i najcenjeniju (digitalnu) imovinu za ne više od nekoliko meseci. Sama priroda pandemije SARS-CoV-2, prvenstveno potreba za ograničavanjem fizičkog kontakta, pogodovala je digitalizaciji svih modela obavljanja svakodnevnih aktivnosti i posledično stvorila savršeno okruženje za sve kripto-projekte (Mijatović, 2022:94). Ipak, sama činjenica da je bitkoin na slobodnom tržištu oko 20.000 puta vredniji od USD sugeriše da tu ima još mnogo toga. Ovo važi bez obzira na to da li se bitkoin percipira kao novac ili ne.

Teorija konkurentskih valuta, posebno valuta koje ne izdaju države ili bilo koji centralni autoritet, pokazala se održivom - u najmanju ruku. Zapravo, ako s jedne strane imamo centralizovan i prisilan poredak, a s druge strane dobrovoljan i decentralizovan sistem (McGinnis, 2020: 59), čini se da „dobrovoljni sporazum o korišćenju određenog predmeta kao sredstva plaćanja“ (Đorđević, 2018:97; McGinnis, 2020:61) može čak biti superiorniji od dogme „valutnog monopola“. Ipak, kako mi to vidimo, otkrivanje deflatornih mehanizama ugrađenih u izvorni kod Bitkoina i njihovo prepoznavanje kao nepromenljivih od strane šire javnosti, najveća je tajna njegovog uspeha. Očigledno, ovo nije jedina zanimljiva karakteristika Bitkoin sistema, ali u vremenima kriza poput one izazvane virusom SARS-CoV-2 i njegovim brojnim varijantama, te karakteristike dolaze do izražaja, posebno kada se uporede sa načinom funkcionisanja „imperativnih“ valuta. U svakom slučaju, ovo zapažanje je podržano sudskom praksom. U određenim slučajevima, sudovi su precizno naveli da je bitkoin po prirodi deflatoran i da bi mogao biti bolje skladište vrednosti od brojnih zvaničnih valuta širom sveta koje su veoma podložne inflaciji (Pernice, 2021: 778).

Bitkoin sistem dovodi u pitanje univerzalno prihvaćenu ideju državnog suvereniteta po pitanju izdavanja novca. Teoretski, Bitkoin ne potkopava monetarni suverenitet; u stvari, zajednica čak može doprineti ostvarivanju ove vrste suvereniteta dajući poverenje sredstvu razmene koje se razlikuje od zakonski nametnutih (Pernice, 2021: 775). Prirodno je da ovaj pristup deluje sumnjivo, još više zato što ovaj sistem ne nudi odgovore na sva pitanja koja se javljaju na potpuno decentralizovanom i neregulisanom tržištu slobodnih valuta. Ipak, ovo je fascinantan finansijski sklop. Brojne tehnološke i ekonomske karakteristike čine ga privlačnim za sve one koji su željni da istraže moguće alternative dominaciji države u ovoj oblasti. Na pitanje da li su te alternative održive i u kojoj meri - ostaje da se odgovori. Ipak, zaista verujemo da deflatorni mehanizmi, čak i jednostavni poput onih ugrađenih u Bitkoin sistem, moraju biti dobrodošli kao parametri u trenutnoj ili sledećoj fazi evolucije novca i monetarnih obaveza.

Reference

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@ f4a890ce:af88c4aa

執行摘要

市場經歷回調後進入盤整期，總市值維持在3.24兆美元，成交量與交易活躍度持續走弱，顯示投資人正等待新方向。本週建議聚焦以下數據：

比特幣關鍵支撐與壓力區:URPD密集支撐帶104,000美元下方，若價格跌破需提防市場加速回調；反之，若重回105,000美元以上，將確認技術反彈啟動。

現貨買盤動能指標:持續追蹤 Coinbase Premium Index、Korea Premium Index 是否維持正值，這將反映全球主力市場現貨買盤是否仍具支撐力。

ETF 資金動向:上週 BTC ETF 出現大幅流出，若本週流出持續，可能進一步壓抑市場信心；相對地，ETH ETF 資金流入能否維持，將是觀察主流資金偏好的重點。

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加密市場

本週加密貨幣市場總市值維持在 3.29 兆美元 左右，顯示市場基本面仍具穩定性。與此同時，當週總成交量下降至 617.22 億美元，反映出市場活躍度有所降低，投資者交易意願趨向謹慎。

https://coinmarketcap.com/charts/

市場情緒方面，恐懼與貪婪指數為 52，落於中性區間，表明投資者對市場前景沒有明顯的樂觀或悲觀情緒，情緒呈現平穩狀態。

https://www.coinglass.com/zh-TW/pro/i/FearGreedIndex

相對強弱指標顯示部分標的處於中性至弱勢區間，暗示短期內市場可能面臨獲利回吐或技術性修正的壓力，動能顯得較為不足。

https://www.coinglass.com/zh-TW/pro/i/RsiHeatMap

山寨幣季節指數維持在 20，這表明市場資金依然偏向於比特幣及其他主流加密貨幣，中小型代幣未獲得大量關注。

https://www.blockchaincenter.net/en/altcoin-season-index/

穩定幣市值上升至 251.548 億美元，反映出仍然有資金流入，但部分資金正積極尋求避險，或準備在市場調整後抓住更具吸引力的進場時機。

https://defillama.com/stablecoins

小結

本週加密市場總市值保持穩定，但成交量下降與相對強弱指標偏弱顯示市場交易熱情減弱，投資者情緒趨於保守。山寨幣季節指數維持低位，說明資金繼續集中在主流幣種，而穩定幣市值的上升則暗示投資者正在為未來可能的市場調整做準備。

未來，市場動向仍將受到資金流向和宏觀經濟變化的影響，密切關注這些指標將有助於判斷進一步的趨勢。

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衍生性商品

本週永續合約持倉規模達 143.36B，市場活躍度依舊保持在高水準，顯示出投資者對槓桿交易需求的持續熱情。

https://www.coinglass.com/zh-TW/pro/futures/Cryptofutures

當前市場資金費率為 0.0018%（多數交易所均呈正費率），表明市場中多頭情緒仍占上風，因近期價格短時間急跌導致市場資金費率數值不高。

https://www.coinglass.com/zh-TW/FundingRate

整體而言，本週總空單爆倉金額為 891.441M，而多單爆倉則達 1563.242M。數據顯示多單在高槓桿環境下的風險較大，特別是在 6 月 12 日與 6 月 13 日，市場出現大量爆倉事件，主要以多單清算為主。

https://www.coinglass.com/zh-TW/LiquidationData

清算熱力圖顯示，在約 $111,000 的價格區間，清算金額達到 142.1M，這一水平可能成為近期市場波動的關鍵阻力區，投資者需加以留意。

https://www.coinglass.com/zh-TW/pro/futures/LiquidationHeatMap

期權市場活躍，投資者在不同價格區間進行對沖與佈局：

$100,000 的看跌期權合約數量達 12.23K，總金額為 $29.37M，顯示部分投資者對市場下跌風險進行了防禦性的配置，短期可以視為支撐區間。

$110,000 的看漲期權合約數量達 13.69K，總金額為 $57.16M，反映出市場對上行潛力仍保持期待，但與看跌期權相比，金額與合約數量略有差距，表明市場預期存在一定分歧。

https://www.coinglass.com/zh-TW/pro/options/OIStrike

最大痛點位於 2025/06/27 的 $100,000，對應名義金額達 13.83B。這一數據顯示，在該價位附近存在大量未平倉部位，若市場走向觸發，可能會引起顯著的價格波動。

https://www.coinglass.com/zh-TW/pro/options/max-pain

小結

本週加密市場的衍生性商品數據顯示，儘管永續合約持倉依然維持在高位，但資金費率轉為低位正值，加上近期大量多單爆倉事件，市場風險提示逐漸浮現。期權市場則反映出市場參與者在看跌與看漲情緒上的分歧，最大痛點的持倉集中使得 $100,000 成為未來觀察市場動態的重要區間。建議投資者密切關注市場波動，審慎調整槓桿與對沖策略，從而在風險與機會間達成平衡。

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ETF

本週，加密貨幣衍生性商品市場出現明顯分歧，資金流向呈現不同趨勢。比特幣（BTC）ETF 方面，本週出現資金流出，金額達$47.8M。這一變化顯示，部分投資者對比特幣近期走勢保持謹慎，可能因宏觀經濟不確定性或市場波動風險而選擇調整資金配置。

以太坊（ETH）ETF 則呈現資金流入態勢，本週流入金額$25.3M。這表明，儘管部分資金從比特幣中撤離，但投資者對以太坊的技術升級及生態系統發展持續看好，認為 ETH 具有長期成長潛力。

https://coinmarketcap.com/zh-tw/etf/

小結

總體而言，本週加密貨幣衍生性商品市場展現出資金流向的明顯分歧：比特幣ETF出現淨資金流出，而以太坊 ETF 則錄得流入。投資者在謹慎配置資金以應對市場風險的同時，也在關注標的資產的長期發展潛力。

近期也有許多公司效仿 Strategy 開始囤積加密資產，這也有可能是以太坊 ETF 錄得流入的原因。未來，仍持續關注宏觀經濟及技術革新動態，將有助於更好地掌握市場轉折點與資金流向走勢。

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鏈上分析 | BTC

二級交易所比特幣儲備量持續下降，再度創下新低，顯示交易所上待售比特幣供給逐步減少，潛在拋壓持續減輕。

https://cryptoquant.com/asset/btc/chart/exchange-flows/exchange-reserve?exchange=all_exchange&window=DAY&priceScale=log&metricScale=linear&chartStyle=line

在地址分布方面，與上週相同，未見任何反轉跡象：10–100 顆的中型持倉地址數量持續探低，而 100–1k、1k–10k、10k 以上顆數的大型與超大型持倉地址數量均維持上升趨勢。

https://cryptoquant.com/community/dashboard/67e2481ba2a7203afd437b31

值得一提的是，除了我們在 CryptoQuant 上觀察到的數據（該平台已排除礦工與交易所地址），BGeometrics 的地址分布資料亦提供另一視角(全網地址)，本週各持倉區間地址數量普遍略減，僅 1 顆 BTC 以下的小額地址呈現增長。

https://charts.bgeometrics.com/bitcoin_distribution_addr_tables.html

特別是 100–1k BTC 的地址數量減幅較為顯著，但從 bitcoinmagazinepro 公布的 Addresses with Balance > 100 BTC 數據來看，大型持倉地址近期呈現積極囤積態勢，顯示市場中大資金仍在持續加倉布局，對中長期市場信心維持正向。

https://www.bitcoinmagazinepro.com/charts/addresses-greater-than-100-btc/

雖然近期 100 BTC 以上的地址持續瘋狂囤積比特幣，顯示市場對資產配置的需求大增，但從 Address Net Position BTC 30 days 數據來看，真正能影響市場價格波動與方向的，仍是持倉 1k–10k BTC 的地址群體。這類大戶的持倉變化對市場資金流向具有決定性影響，因此值得高度關注。筆者推測，近期大量囤積約 100 BTC 的地址，很可能是企業或機構出於資產配置需求購買比特幣，以作為對抗市場或宏觀經濟風險的一種策略手段。

100-1k Net Position BTC 30 days :https://charts.bgeometrics.com/reports/bitcoin_shark_30d_sum_g.html

1k-10k Net Position BTC 30 days :https://charts.bgeometrics.com/reports/bitcoin_whale_30d_sum_g.html

URPD 指標顯示市場在經歷回調後，價格依然穩固地維持在籌碼最集中、具備顯著支撐力的區域，這代表大多數投資者的平均持倉成本位於當前價格附近，形成強勁的防守層。

https://charts.bgeometrics.com/distribution_realized_price.html

近期鏈上數據顯示，Coinbase 益價指數在 0.049 以上，而韓國益價指數在 2 的高位，這反映出無論在美國或韓國市場，投資者對比特幣的購買意願仍相對強勁。此現象側面突顯全球主要市場對比特幣的需求支撐力。

Coinbase Premium Index:https://cryptoquant.com/asset/btc/chart/market-data/coinbase-premium-index?window=DAY&sma=0&ema=0&priceScale=log&metricScale=linear&chartStyle=line

Korea Premium Index:https://cryptoquant.com/asset/btc/chart/market-data/korea-premium-index?window=DAY&sma=0&ema=0&priceScale=log&metricScale=linear&chartStyle=line

小結

近期比特幣鏈上數據顯示，二級交易所儲備量持續下降，再次創下新低，反映出投資人將資產移出交易所、偏向長期持有的態勢。

地址分布方面，10-100顆的地址數量持續減少，而100-1k、1k-10k與10k以上顆數的地址數量穩步上升，特別是1k-10k的地址，從近30日淨持倉變化可見其對市場影響力仍為主導。

雖然100顆以上地址積極增持，可能代表企業為資產配置、防範風險所為，但尚不足以主導價格走勢。

URPD指標顯示市場回調後價格維持在籌碼最集中區間，支撐明顯。Coinbase 與韓國溢價指數分別穩於 0.049 和 2，顯示美韓市場買盤意願仍強。

整體而言市場結構偏向於短期健康回調，但仍需持續觀察外部宏觀變數對資金流向的影響。

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總體經濟

聯邦基金有效利率持續維持在 4.33%，這表明在當前高利率政策下，資金成本依然居高不下，對整體風險資產形成持續壓力。

https://fred.stlouisfed.org/series/FEDFUNDS

隨著 6 月 18 日 FOMC 會議臨近，市場普遍預期當前利率大概率將維持在 4.25%-4.50% 區間；而6 月及 7 月的會議幾乎可以確定不會降息。值得注意的是，目前市場對於 9 月 17 日 會議出現降息一碼的預期已高達 56.8%，這一轉變反映了部分投資者對未來資金回流的期待，同時也透露出市場對持續高利率環境的謹慎態度。

https://www.cmegroup.com/cn-t/markets/interest-rates/cme-fedwatch-tool.html

消費者物價指數 (CPI) 微微上升至 2.38%，顯示通膨壓力還算可控；而失業率則穩定在 4.2%，反映出勞動市場的基本韌性。但在高利率與流動性受限的背景下，這些正面基本面數據未能對加密貨幣價格產生足夠支撐。

失業率:https://www.macromicro.me/series/37/unemployment-rate

消費者物價指數（CPI）:https://www.macromicro.me/series/128/consumer-price-index-sa-yoy

小結

綜合來看，加密市場在高利率政策和緊縮流動性的雙重影響下，短期內仍面臨較大價格波動風險。儘管 6 月和 7 月的會議預期將維持現有利率水平，但 9 月會議中降息一碼的高預期可能為未來市場帶來資金回流的契機。投資者應持續關注 FOMC 會議及最新經濟數據，謹慎調整策略。

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新聞

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https://www.coindesk.com/policy/2025/06/09/u-s-sec-chair-says-working-on-innovation-exemption-for-defi-platforms

彭博：韓國執政黨希望允許公司發行穩定幣

https://www.coindesk.com/policy/2025/06/10/south-koreas-ruling-party-wants-to-allow-companies-to-issue-stablecoins-bloomberg

眾議院標誌著市場結構改革的勝利，參議院開始通過穩定幣法案

https://www.coindesk.com/policy/2025/06/11/senate-begins-passage-of-stablecoin-bill-as-house-marks-market-structure-wins

川普：政府將致力於建立「清晰、簡單」的加密框架

https://www.coindesk.com/policy/2025/06/12/donald-trump-administration-will-work-toward-clear-and-simple-crypto-frameworks

Shopify 將在 Coinbase 平台上為全球商家提供 USDC 支付服務

https://www.coindesk.com/business/2025/06/12/shopify-to-enable-usdc-payments-on-coinbase-s-base-for-merchants-worldwide

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@ 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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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...

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

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@ 04c915da:3dfbecc9

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

The Status Quo

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

Nostr Requires Responsibility

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

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

Future Nostr Security Improvements

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

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

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

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

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

@ 502ab02a:a2860397

“นาฬิกาชีวิตระดับยีน” ที่ไม่ได้เดินตามเข็ม แต่เดินตามแสงแดด ลมหนาว กลิ่นฝน และแม้กระทั่งความเงียบในฤดูหนาว... โลกที่เรียกว่า Epigenetic Clock ซึ่งไม่ได้แค่บอกอายุ แต่ยังเปลี่ยนพฤติกรรมของเซลล์ตามฤดูกาล เหมือนกับที่ใบไม้เปลี่ยนสีโดยที่ต้นไม้ไม่ได้ตั้งใจ

แม้เราจะคิดว่าอายุถูกวัดด้วยวัน เดือน ปีที่ผ่านไป แต่ในทางชีววิทยาอายุจริง ๆ ของร่างกายเราวัดด้วยสิ่งที่เรียกว่า epigenetic clock หรือนาฬิกาชีวิตที่ฝังอยู่ในระดับยีน ซึ่งไม่ได้เปลี่ยนเพราะตัวเลขในบัตรประชาชน แต่เปลี่ยนเพราะปัจจัยรอบตัวที่มากระทบชีวิตเราในทุก ๆ วัน รวมถึงแสงแดดที่สาดลงมาบนผิวในแต่ละฤดูกาลด้วย ยีนของเรานั้นมี “สวิตช์เปิด-ปิด” ที่ควบคุมโดยกลไกที่เรียกว่า epigenetic marks หรือการเปลี่ยนโครงสร้างดีเอ็นเอเล็กน้อยโดยไม่เปลี่ยนรหัสพันธุกรรมเดิม คล้ายกับที่โน้ตเพลงยังเหมือนเดิม แต่เปลี่ยนจังหวะหรือเสียงเครื่องดนตรีที่ใช้บรรเลง

นักวิจัยพบว่าในสัตว์ที่อาศัยอยู่ในเขตอบอุ่น เช่น หนู ฮอร์โมนการสืบพันธุ์ไม่ได้หลั่งเท่ากันทั้งปี แต่หลั่งตามแสงที่สั้นหรือยาว ซึ่งเป็นตัวส่งสัญญาณให้ระบบ epigenetic ไปปรับยีนที่เกี่ยวข้องกับการผลิตฮอร์โมนเพศ และแม้แต่การสะสมไขมัน โดยยีนบางตัวจะถูก “เมทิลเลต” หรือปิดไว้ในฤดูหนาว แล้วเปิดออกใหม่เมื่อเข้าสู่ฤดูใบไม้ผลิ เพื่อให้ร่างกายกลับมาใช้งานได้อย่างเหมาะสมในฤดูที่มีอาหารมากขึ้น กระบวนการนี้ไม่ใช่เรื่องเฉพาะสัตว์ เพราะในคนก็เกิดขึ้นเหมือนกัน แค่เราไม่รู้ว่ามันกำลังทำงานอยู่ใต้ผิวหนังแบบเงียบ ๆ เท่านั้นเองครับ

ไม่ใช่แค่ฮอร์โมนเท่านั้นที่ขยับตามฤดู แต่ภูมิคุ้มกันเองก็เปลี่ยนตามจังหวะ epigenetic ด้วย นักวิจัยจากมหาวิทยาลัยเคมบริดจ์พบว่าในฤดูหนาว ยีนที่เกี่ยวข้องกับการอักเสบ (inflammatory genes) จะถูกเปิดใช้งานมากขึ้น ในขณะที่ยีนที่เกี่ยวกับการซ่อมแซมและการควบคุมภูมิคุ้มกันกลับถูกปิดบางส่วน ผลก็คือคนเรามีแนวโน้มจะเจ็บป่วยจากโรคอักเสบหรือภูมิแพ้ในฤดูหนาวมากกว่าฤดูร้อน ซึ่งเป็นฤดูที่ระบบภูมิคุ้มกันถูกเซ็ตใหม่ให้โฟกัสที่การซ่อมแซมมากกว่าโจมตี การทำงานเหล่านี้ไม่ได้เกิดแบบสุ่ม แต่สอดคล้องกับแสงแดดที่เปลี่ยนแปลงไปในแต่ละเดือน ราวกับว่าร่างกายเรามี ปฏิทินลับ ที่คอยกางออกให้ยีนอ่านอยู่เสมอ

สิ่งที่น่าสนใจมากกว่านั้นคือ แสงแดดสามารถย้อนวัย epigenetic ได้จริง โดยเฉพาะในรูปของ “early morning sunlight” ซึ่งมีแสงอินฟราเรดยาว ๆ (near-infrared light) ที่ช่วยกระตุ้นการทำงานของ cytochrome c oxidase ในไมโตคอนเดรีย ทำให้ผลิตพลังงานได้ดีขึ้น ลด oxidative stress และกระตุ้นยีนที่เกี่ยวข้องกับการซ่อมดีเอ็นเอ มีงานวิจัยที่แสดงให้เห็นว่าแสงตอนเช้าอาจช่วยลดความเร็วของ epigenetic aging ได้ดีกว่าการออกกำลังกายเสียอีก หากทำอย่างสม่ำเสมอและถูกจังหวะในแต่ละฤดู

ในมุมของการรักษาโรค NCD หรือโรคที่เกิดจากวิถีชีวิตแบบพัง ๆ โอเคเราอาจเคยได้ยินเรื่องอาหาร การออกกำลังกาย หรือการนอน แต่มีน้อยคนที่จะพูดถึงการ “ตั้งนาฬิกาชีวิตให้ตรงกับฤดู” เพราะวงจร epigenetic ไม่ได้ถูกปรับด้วยกิจกรรมแค่วันต่อวัน แต่มันตอบสนองกับช่วงเวลาที่ลึกกว่านั้น คือ “ฤดูชีวิต” แบบ circannual ซึ่งเป็นเหมือนเมตาบอสเต็มรูปแบบของ biological season ที่ธรรมชาติเขียนสคริปต์ไว้แล้ว เราแค่ต้องฟัง

สิ่งที่เราจะทำได้จริงแบบง่าย ๆ คือ การอยู่กลางแดดในฤดูที่ควรอยู่กลางแดด ไม่ใช่ปิดผ้าม่านแล้วเปิด Netflix ทั้งวัน ปล่อยให้แสงจริงกระทบตาและผิวเป็นประจำโดยเฉพาะในช่วงเวลา 7:00 – 9:00 น. และอย่าลืมว่าฤดูไม่ใช่มีไว้แค่เปลี่ยนเสื้อผ้า แต่เปลี่ยนวิธีที่ร่างกายผลิตฮอร์โมน ซ่อมแซมตัวเอง และแม้แต่สร้างเซลล์สมองใหม่ ๆ ซึ่งกระบวนการทั้งหมดนี้ต้องการจังหวะที่ตรงกับปฏิทินของธรรมชาติ

ถ้าความแก่คือผลรวมของความผิดจังหวะเล็ก ๆ ทุกวัน การกลับไปอยู่กับฤดูกาลอีกครั้ง อาจเป็นเหมือนการตั้งวงดนตรีให้เข้าคีย์ใหม่ ฟังได้ไพเราะยิ่งกว่าเสียงใดในโลก และทำให้ “ยีนของเรา” เล่นบทเพลงแห่งชีวิตได้ยาวนานขึ้นอย่างสง่างาม แบบที่ไม่ต้องพึ่งอะไรเลยนอกจากแสงจากฟ้าและความเข้าใจลึก ๆ ที่ธรรมชาติมีให้เราตั้งแต่เกิด

#pirateketo #กูต้องรู้มั๊ย #ม้วนหางสิลูก #siamstr #SundaySpecialเราจะไปเป็นหมูแดดเดียว

@ 52b4a076:e7fad8bd

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

Regular relays have challenges

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

NFDB: A scalable database for large relays

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

Search

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

Personalization

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

Other

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

Calcite: A local microrelay database

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

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

For zero-downtime, NFDB is recommended.

Noswhere SmartCache

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

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

routerd

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

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

Ending notes

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

A lot more is to come. 👀️️️️️️

@ 20e7c953:3b8bcb21

21… That number means something. A reminder that limits create value - both in Bitcoin and in life.

Every June 21st, skaters around the world remind us that freedom is something you make yourself - one push at a time only constrained by your own limitations.

This year in Vientiane, we’re proud to support one of the few real skate spots in Laos. A place built and held together by skaters for skaters.

Expect around 50 locals - from young kids to older heads - showing up not just to skate, but to hold space for each other. No ego, no filters, just boards, fun and respect.

Bitcoiners have lots to learn from these communities on this regard. Go skate and you'll find out.

SnF

Laostr

Skateboardingisfun

Skate4Fun