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BIP-148 was only a bluff if nodes don't actually control Bitcoin. Sound bite from the Plan ₿ Forum - El Salvador heater debate on BIP 110 with Mechanic #BIP-110 Luke Dashjr Tone Vays BitMEX Research Giacomo Distributed-Authoritarian Plebslop Zucco

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Bitcoin OG Tone Vays gives his full unfiltered take on the BIP-110 controversy: "People have been convinced that just because you're able to spin up a node, that somehow you should be in control of the Bitcoin network, and that's a very dangerous precedent."
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Bitcoin OG Tone Vays gives his full unfiltered take on the BIP-110 controversy: "People have been convinced that just because you're able to spin up a node, that somehow you should be in control of the Bitcoin network, and that's a very dangerous precedent."

Simply Bitcoin

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Short clip and followup yesterday from the studio. When I said Core V30 would increase the attack surface and threat sector to Bitcoin I was attacked. Now that V30 failed-and resulted in loss of Bitcoin for some-where are those mouthpieces for Core? Lopp. Calle. Shinobi. Back. Livera. Remember the "adults in the room" telling us you couldn't trust Knots? Or Luke, or Mechanic. Now, V30 has been pulled. Failed. 200 developers and yet it released with numerous bugs. One fatal to some legacy wallets. Luke Dashjr Softfork Mechanic #BIP-110 Matthew R. Kratter #BIP-110 The Bitcoin Boomers
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Short clip and followup yesterday from the studio. When I said Core V30 would increase the attack surface and threat sector to Bitcoin I was attacked. Now that V30 failed-and resulted in loss of Bitcoin for some-where are those mouthpieces for Core? Lopp. Calle. Shinobi. Back. Livera. Remember the "adults in the room" telling us you couldn't trust Knots? Or Luke, or Mechanic. Now, V30 has been pulled. Failed. 200 developers and yet it released with numerous bugs. One fatal to some legacy wallets. Luke Dashjr Softfork Mechanic #BIP-110 Matthew R. Kratter #BIP-110 The Bitcoin Boomers

George Bodine

17,621 Aufrufe • vor 6 Monaten

⚡️Had an amazing chat with Jeff Booth ⚡️ about why most Bitcoiners will eventually sell for dollars, why 95% still price Bitcoin in fiat, how his view differs from Michael Saylor why he supports Knots and why it may take a higher consciousness to truly move your time into Bitcoin. This one goes deep. Shoutouts to Luke Dashjr Softfork Mechanic #BIP-110 27:40 On why he runs a Knots Node George Bodine Matthew R. Kratter #BIP-110 Loren HODL™️ 🔆 Puncher75 Terence Michael CHODL Tiffany Noelle Tania Jean🕊️ Trailer by nilli studio ➡️Full Episode:
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⚡️Had an amazing chat with Jeff Booth ⚡️ about why most Bitcoiners will eventually sell for dollars, why 95% still price Bitcoin in fiat, how his view differs from Michael Saylor why he supports Knots and why it may take a higher consciousness to truly move your time into Bitcoin. This one goes deep. Shoutouts to Luke Dashjr Softfork Mechanic #BIP-110 27:40 On why he runs a Knots Node George Bodine Matthew R. Kratter #BIP-110 Loren HODL™️ 🔆 Puncher75 Terence Michael CHODL Tiffany Noelle Tania Jean🕊️ Trailer by nilli studio ➡️Full Episode:

The Bitcoin Edge

11,477 Aufrufe • vor 1 Monat

We have absolutely no idea what kind of chaos is going to ensue if BIP-110 gets pushed through without consensus. If the market sides against the restrictive rules, we are left with a smaller, weaker monetary Bitcoin while the "spam-enabling" version wins all the institutional money. I pulled this clip from my recent chat with Luke de Wolf because it highlights the true stakes of this governance debate. Check it out here or catch the whole of discussion below.
5:33

We have absolutely no idea what kind of chaos is going to ensue if BIP-110 gets pushed through without consensus. If the market sides against the restrictive rules, we are left with a smaller, weaker monetary Bitcoin while the "spam-enabling" version wins all the institutional money. I pulled this clip from my recent chat with Luke de Wolf because it highlights the true stakes of this governance debate. Check it out here or catch the whole of discussion below.

Guy Swann

37,049 Aufrufe • vor 25 Tagen

Matthew Kratter on why the spam war feels like a psyop: "A lot of these Core devs don't own much Bitcoin at all. They don't even run nodes. There's a misalignment of incentives. It's terrifying to see Bitcoin in the hands of devs who view it as just another software gig. You begin to feel like you're taking crazy pills — why am I arguing with master C programmers who suddenly don't know what spam is? It's a very strange time to be alive." Matthew R. Kratter #BIP-110 on The The Bitcoin Matrix Podcast ⚡️
2:27

Matthew Kratter on why the spam war feels like a psyop: "A lot of these Core devs don't own much Bitcoin at all. They don't even run nodes. There's a misalignment of incentives. It's terrifying to see Bitcoin in the hands of devs who view it as just another software gig. You begin to feel like you're taking crazy pills — why am I arguing with master C programmers who suddenly don't know what spam is? It's a very strange time to be alive." Matthew R. Kratter #BIP-110 on The The Bitcoin Matrix Podcast ⚡️

Cedric Youngelman ⚡️

23,497 Aufrufe • vor 12 Tagen

Matthew Kratter on why the other side has no grenade: "We're just crazy enough to walk into the room and say: look, Bitcoin is money. This is so important to me that I've got a grenade here, and I'm willing to blow all of us up if you don't go along with us. And we don't have an opposition. No one has the hand grenade that says I want spam and CSAM on Bitcoin. If there were a group trying to push that through, I would URSF them in a second, because that's unacceptable. We're watching Bitcoin heal itself and fight back." Matthew R. Kratter #BIP-110 on The The Bitcoin Matrix Podcast ⚡️ #279.
0:53

Matthew Kratter on why the other side has no grenade: "We're just crazy enough to walk into the room and say: look, Bitcoin is money. This is so important to me that I've got a grenade here, and I'm willing to blow all of us up if you don't go along with us. And we don't have an opposition. No one has the hand grenade that says I want spam and CSAM on Bitcoin. If there were a group trying to push that through, I would URSF them in a second, because that's unacceptable. We're watching Bitcoin heal itself and fight back." Matthew R. Kratter #BIP-110 on The The Bitcoin Matrix Podcast ⚡️ #279.

Cedric Youngelman ⚡️

10,452 Aufrufe • vor 18 Tagen

BITCOIN RAILS #59: Post-Quantum Bitcoin Signatures (+ their tradeoffs) | with BIP 360 co-author Ethan ✨ is on BlueSky✨ Heilman 🐱 and Blockstream Head of Research Jonas Nick 🔗 YOUTUBE: 🌿 SPOTIFY: According to BIP 360 co-author Ethan Heilman, Bitcoin needs a minimum of two soft forks to become quantum resistant: P2MR (or an output type that can safely execute PQ signatures) + a post-quantum checksig (signature scheme). Ethan and the BIP 360 team (including myself and Hunter Beast 🕯️) introduced the P2MR part via a BIP 360 update late last year—but the question remains, what’s the most appropriate PQ signature scheme for Bitcoin? They all have substantive tradeoffs, but hash-based signatures seem to be leading technical discourse—likely due to recent optimizations by Jonas Nick and the broader Blockstream research team. It was an honor to sit down with both of these men - arguably the two most influential and productive cryptographers in Bitcoin quantum mitigation right now - for an in-depth review of the leading PQ signature schemes and a temperature check on Bitcoin’s post-quantum planning process. TBH, if you want to skip the noise and jump straight to the signal on quantum, this is the interview to watch. In this episode, we discuss: - What needs to happen at the soft fork, infra, and mitigation levels to fully quantum-harden Bitcoin - Recent updates to BIP 360 + breakdown of the leading hash-based signatures schemes for Bitcoin (SHRINCS + SHRIMPS) - Why we may actually get consensus around a stateful scheme for Bitcoin - Comparisons of hash-based signatures vs Lattice and Isogeny-based schemes - Assessing the risks of both waiting too long and acting too fast (and why quantum is a better threat to be facing than a potential classical attack) This episode of Bitcoin Rails is brought to you by my NEW sponsors: - LayerTwo Labs LayerTwo Labs — developing research, software, and technologies for scaling Bitcoin via the integration of Drivechains (BIP 300/301) - Hashi on Sui — a primitive for executing Bitcoin Defi transactions, without having to trust a federated bridge or other centralized entity - BitBox BitBox — an open-source Bitcoin-only hardware wallet, with smooth UX and no compromises on security. Check out Bitbox [dot] swiss and use code BITCOINRAILS to get a discount TIMESTAMPS: 00:00 Intro 02:18 Ethan’s Quantum Wakeup 05:18 How Blockstream Enters Post Quantum 09:25 BIP 360 Explained 12:11 How Bitcoin Transitions to PQ 17:35 Choosing Post Quantum Signatures 23:20 How Blockstream Created SHRINCS 27:22 Signature Budgets Importance Explained 41:13 What are SHRIMPS? 44:51 SHRIMPS vs SHRINCS 47:48 Why SLH-DSA Alone Won’t Cut It 49:24 Is a SHRIMPS + SHRINCS BIP Coming? 51:51 Blockstream’s Big Plans for Liquid 59:04 Quantum Readiness Roadmap 01:02:22 Importance of a PQ Recovery Plan 01:05:35 How Long Would a PQ Migration Take 01:11:17 Quantum Watchlist Recommendations
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BITCOIN RAILS #59: Post-Quantum Bitcoin Signatures (+ their tradeoffs) | with BIP 360 co-author Ethan ✨ is on BlueSky✨ Heilman 🐱 and Blockstream Head of Research Jonas Nick 🔗 YOUTUBE: 🌿 SPOTIFY: According to BIP 360 co-author Ethan Heilman, Bitcoin needs a minimum of two soft forks to become quantum resistant: P2MR (or an output type that can safely execute PQ signatures) + a post-quantum checksig (signature scheme). Ethan and the BIP 360 team (including myself and Hunter Beast 🕯️) introduced the P2MR part via a BIP 360 update late last year—but the question remains, what’s the most appropriate PQ signature scheme for Bitcoin? They all have substantive tradeoffs, but hash-based signatures seem to be leading technical discourse—likely due to recent optimizations by Jonas Nick and the broader Blockstream research team. It was an honor to sit down with both of these men - arguably the two most influential and productive cryptographers in Bitcoin quantum mitigation right now - for an in-depth review of the leading PQ signature schemes and a temperature check on Bitcoin’s post-quantum planning process. TBH, if you want to skip the noise and jump straight to the signal on quantum, this is the interview to watch. In this episode, we discuss: - What needs to happen at the soft fork, infra, and mitigation levels to fully quantum-harden Bitcoin - Recent updates to BIP 360 + breakdown of the leading hash-based signatures schemes for Bitcoin (SHRINCS + SHRIMPS) - Why we may actually get consensus around a stateful scheme for Bitcoin - Comparisons of hash-based signatures vs Lattice and Isogeny-based schemes - Assessing the risks of both waiting too long and acting too fast (and why quantum is a better threat to be facing than a potential classical attack) This episode of Bitcoin Rails is brought to you by my NEW sponsors: - LayerTwo Labs LayerTwo Labs — developing research, software, and technologies for scaling Bitcoin via the integration of Drivechains (BIP 300/301) - Hashi on Sui — a primitive for executing Bitcoin Defi transactions, without having to trust a federated bridge or other centralized entity - BitBox BitBox — an open-source Bitcoin-only hardware wallet, with smooth UX and no compromises on security. Check out Bitbox [dot] swiss and use code BITCOINRAILS to get a discount TIMESTAMPS: 00:00 Intro 02:18 Ethan’s Quantum Wakeup 05:18 How Blockstream Enters Post Quantum 09:25 BIP 360 Explained 12:11 How Bitcoin Transitions to PQ 17:35 Choosing Post Quantum Signatures 23:20 How Blockstream Created SHRINCS 27:22 Signature Budgets Importance Explained 41:13 What are SHRIMPS? 44:51 SHRIMPS vs SHRINCS 47:48 Why SLH-DSA Alone Won’t Cut It 49:24 Is a SHRIMPS + SHRINCS BIP Coming? 51:51 Blockstream’s Big Plans for Liquid 59:04 Quantum Readiness Roadmap 01:02:22 Importance of a PQ Recovery Plan 01:05:35 How Long Would a PQ Migration Take 01:11:17 Quantum Watchlist Recommendations

Isabel Foxen Duke⚡️

23,783 Aufrufe • vor 2 Monaten

Bitcoin isn't digital gold. It's not locked in by math. You can kill it. The man who ran money at Peter Thiel's hedge fund came on to explain who's trying — and why the only thing protecting Bitcoin is the people who run nodes. Matthew R. Kratter #BIP-110 — Bitcoin University founder, former Clarium / Thiel-world macro trader, early Palantir investor — joins me to lay out the fight consuming Bitcoin right now in plain English: why he says Bitcoin Core has "gone rogue," the spam war over OP_RETURN and BIP-110 he calls Bitcoin's last stand, why consensus flows from culture and not code, who actually controls the network (hint: not the miners), and how to mine Bitcoin from home for about $10 a day. Send this to anyone who thinks Bitcoin can't be stopped. TIMESTAMPS: 00:00 Intro 01:00 Physics dropout to literature — Stanford & Berkeley 05:27 René Girard & meeting Peter Thiel 07:56 Becoming a trader: Thiel Macro → Clarium 12:43 The PayPal mafia, network effects & the dot-com bottom 20:23 Global macro at Clarium & the 2003 housing-blowup call 24:08 Napster, PayPal & the "new world currency" 28:32 Government as the ultimate customer — Palantir & the CIA (In-Q-Tel) 36:00 Deep-state roots — is Peter Thiel captured? 49:32 Culture is upstream of consensus 57:00 Bitcoin isn't magic — nodes, immutability & the spam risk 1:01:42 Why spam is a problem — tragedy of the commons 1:04:30 Spam since Satoshi & the 2014 OP_RETURN war 1:14:30 The changing of the guard at Bitcoin Core 1:18:43 Core uncaps OP_RETURN to 100,000 bytes 1:28:00 Consensus flows from culture — the 2nd Amendment analogy 1:35:20 BIP-110 — the temporary soft fork 1:44:00 Why small blocks — and running nodes in Cuba 2:18:55 SegWit & the 2017 UASF — how 500 nodes won 2:24:00 The miners are just employees — node runners set the rules 2:41:46 "Firing the miners" — changing proof-of-work 2:55:18 Bitcoin Core went rogue — the last stand 2:58:50 You can kill Bitcoin 3:01:20 Mine Bitcoin from home for ~$10/day, KYC-free 3:11:09 Where to find Matt ▶️
3:16:47

Bitcoin isn't digital gold. It's not locked in by math. You can kill it. The man who ran money at Peter Thiel's hedge fund came on to explain who's trying — and why the only thing protecting Bitcoin is the people who run nodes. Matthew R. Kratter #BIP-110 — Bitcoin University founder, former Clarium / Thiel-world macro trader, early Palantir investor — joins me to lay out the fight consuming Bitcoin right now in plain English: why he says Bitcoin Core has "gone rogue," the spam war over OP_RETURN and BIP-110 he calls Bitcoin's last stand, why consensus flows from culture and not code, who actually controls the network (hint: not the miners), and how to mine Bitcoin from home for about $10 a day. Send this to anyone who thinks Bitcoin can't be stopped. TIMESTAMPS: 00:00 Intro 01:00 Physics dropout to literature — Stanford & Berkeley 05:27 René Girard & meeting Peter Thiel 07:56 Becoming a trader: Thiel Macro → Clarium 12:43 The PayPal mafia, network effects & the dot-com bottom 20:23 Global macro at Clarium & the 2003 housing-blowup call 24:08 Napster, PayPal & the "new world currency" 28:32 Government as the ultimate customer — Palantir & the CIA (In-Q-Tel) 36:00 Deep-state roots — is Peter Thiel captured? 49:32 Culture is upstream of consensus 57:00 Bitcoin isn't magic — nodes, immutability & the spam risk 1:01:42 Why spam is a problem — tragedy of the commons 1:04:30 Spam since Satoshi & the 2014 OP_RETURN war 1:14:30 The changing of the guard at Bitcoin Core 1:18:43 Core uncaps OP_RETURN to 100,000 bytes 1:28:00 Consensus flows from culture — the 2nd Amendment analogy 1:35:20 BIP-110 — the temporary soft fork 1:44:00 Why small blocks — and running nodes in Cuba 2:18:55 SegWit & the 2017 UASF — how 500 nodes won 2:24:00 The miners are just employees — node runners set the rules 2:41:46 "Firing the miners" — changing proof-of-work 2:55:18 Bitcoin Core went rogue — the last stand 2:58:50 You can kill Bitcoin 3:01:20 Mine Bitcoin from home for ~$10/day, KYC-free 3:11:09 Where to find Matt ▶️

The Bitcoin Matrix Podcast ⚡️

20,222 Aufrufe • vor 28 Tagen

Living the Bitcoin Dream in the Heart of El Salvador Welcome to the vibrant Bitcoin hood in the heart of El Salvador, where the Bitcoin community is coming together for an unforgettable experience at Bitcoin Histórico on November 12th and 13th. This gathering promises to be a modern-day renaissance, celebrating financial freedom and technological innovation amidst the historical backdrop of San Salvador. Imagine the bustling streets of Centro Historico glowing orange with excitement as OGs and newcomers of the Bitcoin world converge for a two-day immersion into the world of cryptocurrencies and blockchain technology. Centro Historico, the pulsating heart of San Salvador, will be transformed into a hub of knowledge, inspiration, and community. The centerpiece of the event will be the Main Stage at the National Palace, where keynote speeches from renowned speakers will be live-streamed to giant LED screens on Plaza Gerardo Barrios. Get ready to be inspired by thought leaders such as: Don Ricardo Salinas Pliego, Russell Brand, Milena Mayorga, Max Keiser, Stacy Herbert 🇸🇻🚀, ZUBY:, Jeff Booth ⚡️, Jack Mallers, Pierre Rochard, Jimmy Song (송재준), isa⚡️, Bitstein, Darin Feinstein, Giacomo Distributed-Authoritarian Plebslop Zucco, Eric Yakes, …::: jon, wiz 🇸🇻, Fadi Elsalameen فادي السلامين ⚡️, Knut Svanholm ∞/21M, Preston Pysh, Efrat Fenigson, Lina Seiche, Tone Vays, Mechanic #BIP-110, Oleg Mikhalsky, who will share their insights and visions for the future of Bitcoin and financial liberation. But the excitement doesn't stop there – secondary stages at the National Theater and La Dalia will host panels, workshops, and freedom-tech demos led by a diverse lineup of speakers including: MURPHSLIFE, Jethro Toro🔸∞/21m 🌎, ☣️ Pleb Kruse = BTC foundationalist in exile 🟩🔆, Bitcoin Beach, Roman Martínez🇸🇻⚡️ (chimbera), Peter Todd, Delta, Dirac, kiki ✨, Airbtc, Keith Mukai, Gerson Martínez 🇸🇻🇺🇸, Seb Gouspillou, Joyce Dawn, Cherito Specialty BitCafé Roasters 🇸🇻😎☕💊🍊, The Bitcoin Hardware Store, Carlos : CEO at SimpleProof.com, Napoleon Osorio 🚖, Adam Nili 🇵🇷 🇸🇻🇨🇴, Fulmo ⚡, Jamie Robinson, May Gong Zhu, Will⚡️, And many more key figures in the Bitcoin community. Join the The Bitcoin Office Conference in El Salvador and be part of a transformative journey towards a future where financial freedom knows no bounds. Experience the convergence of innovation, culture, and resilience in the heart of San Salvador, where the spirit of liberation thrives and the potential of blockchain technology is harnessed for the betterment of all. Welcome to Bitcoin Country, where the future of Bitcoin is being shaped block by block. #Bitcoin #ElSalvador #Bukele Video By: Translating El Salvador Song: Bada Boom I Bought a Bitcoin (REMIX) By: Chandi10
0:55

Living the Bitcoin Dream in the Heart of El Salvador Welcome to the vibrant Bitcoin hood in the heart of El Salvador, where the Bitcoin community is coming together for an unforgettable experience at Bitcoin Histórico on November 12th and 13th. This gathering promises to be a modern-day renaissance, celebrating financial freedom and technological innovation amidst the historical backdrop of San Salvador. Imagine the bustling streets of Centro Historico glowing orange with excitement as OGs and newcomers of the Bitcoin world converge for a two-day immersion into the world of cryptocurrencies and blockchain technology. Centro Historico, the pulsating heart of San Salvador, will be transformed into a hub of knowledge, inspiration, and community. The centerpiece of the event will be the Main Stage at the National Palace, where keynote speeches from renowned speakers will be live-streamed to giant LED screens on Plaza Gerardo Barrios. Get ready to be inspired by thought leaders such as: Don Ricardo Salinas Pliego, Russell Brand, Milena Mayorga, Max Keiser, Stacy Herbert 🇸🇻🚀, ZUBY:, Jeff Booth ⚡️, Jack Mallers, Pierre Rochard, Jimmy Song (송재준), isa⚡️, Bitstein, Darin Feinstein, Giacomo Distributed-Authoritarian Plebslop Zucco, Eric Yakes, …::: jon, wiz 🇸🇻, Fadi Elsalameen فادي السلامين ⚡️, Knut Svanholm ∞/21M, Preston Pysh, Efrat Fenigson, Lina Seiche, Tone Vays, Mechanic #BIP-110, Oleg Mikhalsky, who will share their insights and visions for the future of Bitcoin and financial liberation. But the excitement doesn't stop there – secondary stages at the National Theater and La Dalia will host panels, workshops, and freedom-tech demos led by a diverse lineup of speakers including: MURPHSLIFE, Jethro Toro🔸∞/21m 🌎, ☣️ Pleb Kruse = BTC foundationalist in exile 🟩🔆, Bitcoin Beach, Roman Martínez🇸🇻⚡️ (chimbera), Peter Todd, Delta, Dirac, kiki ✨, Airbtc, Keith Mukai, Gerson Martínez 🇸🇻🇺🇸, Seb Gouspillou, Joyce Dawn, Cherito Specialty BitCafé Roasters 🇸🇻😎☕💊🍊, The Bitcoin Hardware Store, Carlos : CEO at SimpleProof.com, Napoleon Osorio 🚖, Adam Nili 🇵🇷 🇸🇻🇨🇴, Fulmo ⚡, Jamie Robinson, May Gong Zhu, Will⚡️, And many more key figures in the Bitcoin community. Join the The Bitcoin Office Conference in El Salvador and be part of a transformative journey towards a future where financial freedom knows no bounds. Experience the convergence of innovation, culture, and resilience in the heart of San Salvador, where the spirit of liberation thrives and the potential of blockchain technology is harnessed for the betterment of all. Welcome to Bitcoin Country, where the future of Bitcoin is being shaped block by block. #Bitcoin #ElSalvador #Bukele Video By: Translating El Salvador Song: Bada Boom I Bought a Bitcoin (REMIX) By: Chandi10

Translating El Salvador

20,380 Aufrufe • vor 8 Monaten

"Did we actually win the block size war — or did we lose?" Samson Mow asks the question most Bitcoiners won't. Fees as a filter, the jump to 4MB, and why Luke Dashjr may have been right about smaller blocks. The context the BIP 110 fight skips. 👇 Samson Mow on whether we actually won the block size war: "The Core people say the fees are the filter. But that misses the point — you're not looking at the entire network, and what's already happened. Yes, fees filter spam. You pay fees to transact, and a spammer pays fees too. But during the block size war, we changed the whole dynamic. We changed the unit economics — we increased the block size and decreased fee pressure. So we actually made it cheaper to spam the network. Only one person talked about decreasing the block size back then — Luke Dashjr. And I think he was right. So it begs the question: did we actually win the block size war, or did we lose? We had a net increase in effective block space, going to four megabytes — and the repercussions of that, I don't think we've really reasoned out. Maybe it was a mistake to go to four. Maybe we should have kept it at one, and left the settings of the network as they were." Samson Mow on The The Bitcoin Matrix Podcast ⚡️ #243
1:15

"Did we actually win the block size war — or did we lose?" Samson Mow asks the question most Bitcoiners won't. Fees as a filter, the jump to 4MB, and why Luke Dashjr may have been right about smaller blocks. The context the BIP 110 fight skips. 👇 Samson Mow on whether we actually won the block size war: "The Core people say the fees are the filter. But that misses the point — you're not looking at the entire network, and what's already happened. Yes, fees filter spam. You pay fees to transact, and a spammer pays fees too. But during the block size war, we changed the whole dynamic. We changed the unit economics — we increased the block size and decreased fee pressure. So we actually made it cheaper to spam the network. Only one person talked about decreasing the block size back then — Luke Dashjr. And I think he was right. So it begs the question: did we actually win the block size war, or did we lose? We had a net increase in effective block space, going to four megabytes — and the repercussions of that, I don't think we've really reasoned out. Maybe it was a mistake to go to four. Maybe we should have kept it at one, and left the settings of the network as they were." Samson Mow on The The Bitcoin Matrix Podcast ⚡️ #243

Cedric Youngelman ⚡️

41,063 Aufrufe • vor 8 Tagen

Just finished listening to Mechanic #BIP-110 's break down the spam attack vector and what he lays out is disturbing, not just technically but philosophically. Here’s the short version. Some entities are exploiting a loophole in Bitcoin’s design. They are not using inscriptions, not using op_return, but instead creating fake pubkeys to store arbitrary data on-chain. It sits in a kind of sweet spot. Not big enough to trigger current filters in Core, but damaging enough to bloat the UTXO set and push out regular node runners. And somehow the conversation has shifted. Instead of defending Bitcoin’s core purpose, some dev voices are floating the idea that we should work with the spammers. That maybe if we remove the remaining filters, the abuse will become more manageable. This is a bizarre and dangerous line of thinking. Bitcoin was never built to serve as a data dumpster. It was built to be money. Sound, verifiable, scarce. When we start redesigning Bitcoin to appease people who are actively trying to harm it, we lose the very thing that gave it credibility. Mechanic calls it out plainly. The same people who claim filters do nothing are suddenly demanding we remove them to help the spammers. It is a contradiction. A bait-and-switch. Break the protocol, then use the damage as leverage to weaken it further. This is not how strong systems survive. If we bend Bitcoin every time someone finds a way to abuse it, then it is no longer something we can trust. It becomes something we constantly have to defend through negotiation. I did not opt into Bitcoin to negotiate with attackers. I opted in because it was resilient. Because it does not ask for permission. Because it stands firm even when pressure mounts. Mechanic is not just pointing out a technical issue. He is warning us that the cultural drift inside Bitcoin is real. If we let short-term convenience take precedence over long-term integrity, we will get something very different than what we came here for. Watch the interview. Think about where this path leads.
3:54

Just finished listening to Mechanic #BIP-110 's break down the spam attack vector and what he lays out is disturbing, not just technically but philosophically. Here’s the short version. Some entities are exploiting a loophole in Bitcoin’s design. They are not using inscriptions, not using op_return, but instead creating fake pubkeys to store arbitrary data on-chain. It sits in a kind of sweet spot. Not big enough to trigger current filters in Core, but damaging enough to bloat the UTXO set and push out regular node runners. And somehow the conversation has shifted. Instead of defending Bitcoin’s core purpose, some dev voices are floating the idea that we should work with the spammers. That maybe if we remove the remaining filters, the abuse will become more manageable. This is a bizarre and dangerous line of thinking. Bitcoin was never built to serve as a data dumpster. It was built to be money. Sound, verifiable, scarce. When we start redesigning Bitcoin to appease people who are actively trying to harm it, we lose the very thing that gave it credibility. Mechanic calls it out plainly. The same people who claim filters do nothing are suddenly demanding we remove them to help the spammers. It is a contradiction. A bait-and-switch. Break the protocol, then use the damage as leverage to weaken it further. This is not how strong systems survive. If we bend Bitcoin every time someone finds a way to abuse it, then it is no longer something we can trust. It becomes something we constantly have to defend through negotiation. I did not opt into Bitcoin to negotiate with attackers. I opted in because it was resilient. Because it does not ask for permission. Because it stands firm even when pressure mounts. Mechanic is not just pointing out a technical issue. He is warning us that the cultural drift inside Bitcoin is real. If we let short-term convenience take precedence over long-term integrity, we will get something very different than what we came here for. Watch the interview. Think about where this path leads.

Lysander

31,647 Aufrufe • vor 1 Jahr

People are losing their minds over the idea of quantum computing breaking Bitcoin, but the panic is largely detached from reality. If you listen to Eric Yakes, the fear-mongering is completely off base. The theoretical threat relies on quantum computers factoring large prime numbers fast enough to crack current cryptography. To date, the largest number a quantum computer has successfully factored is 15. "Neven's Law" says quantum power grows at a doubly exponential rate. It's a projection people are using to raise money for their projects, rather than a measurement we are seeing in real life. Compare that to Moore's Law, which we actually watched happen in real time. While physical qubits are increasing and error rates are slowly declining, there is a massive technical hurdle: error rates scale exponentially with qubit count. Adding more power creates more "noise," making the machine harder to stabilize. "But institutional capital is worried!" That's fine. Institutional capital has been wrong about Bitcoin for a decade. If they're selling on quantum FUD, that's cheap sats for the rest of us. Bitcoin devs have been on this for years and are taking steps to mitigate the risk. BIP-360 was just merged into the Bitcoin GitHub repository and Chaincode Labs has published plenty of serious research. If a real threat emerges, every stakeholder is incentivized to adopt quantum-resistant signatures and consensus won't be the obstacle people think it is. Start paying attention to what's actually being built and take your finger off the panic button. Full breakdown 👇
10:13

People are losing their minds over the idea of quantum computing breaking Bitcoin, but the panic is largely detached from reality. If you listen to Eric Yakes, the fear-mongering is completely off base. The theoretical threat relies on quantum computers factoring large prime numbers fast enough to crack current cryptography. To date, the largest number a quantum computer has successfully factored is 15. "Neven's Law" says quantum power grows at a doubly exponential rate. It's a projection people are using to raise money for their projects, rather than a measurement we are seeing in real life. Compare that to Moore's Law, which we actually watched happen in real time. While physical qubits are increasing and error rates are slowly declining, there is a massive technical hurdle: error rates scale exponentially with qubit count. Adding more power creates more "noise," making the machine harder to stabilize. "But institutional capital is worried!" That's fine. Institutional capital has been wrong about Bitcoin for a decade. If they're selling on quantum FUD, that's cheap sats for the rest of us. Bitcoin devs have been on this for years and are taking steps to mitigate the risk. BIP-360 was just merged into the Bitcoin GitHub repository and Chaincode Labs has published plenty of serious research. If a real threat emerges, every stakeholder is incentivized to adopt quantum-resistant signatures and consensus won't be the obstacle people think it is. Start paying attention to what's actually being built and take your finger off the panic button. Full breakdown 👇

Bitcoin News

15,241 Aufrufe • vor 4 Monaten

El Salvador: Pioneering a Bright Future Through Innovation and Vision In recent years, El Salvador has emerged as a beacon of innovation and progress under the visionary leadership of President Nayib Bukele. From groundbreaking legislation to transformative initiatives, the country has been at the forefront of ushering in a new age of growth and development. In this article, we delve into El Salvador role as a global leader of Bitcoin and the positive trajectory for its economic and technological future El Salvador made history by being the first country to enact the Bitcoin Law, establishing a legal framework for the use of cryptocurrency in everyday transactions. This landmark legislation was followed by the creation of the Strategic Bitcoin Reserve, signaling the country's commitment to embracing digital currency as a means to drive economic empowerment and financial inclusion. Further cementing its position as a trailblazer in the digital realm, El Salvador unveiled the first Bitcoin Embassy, a hub for fostering innovation and collaboration within the cryptocurrency ecosystem. In a bold move, the country also implemented the first AI Law and Robot Law, setting the stage for the ethical and responsible integration of artificial intelligence and robotics in various sectors. Expanding its technological footprint, El Salvador introduced the cutting-edge B300 chips, demonstrating its commitment to advancing digital infrastructure and connectivity. In a bid to foster financial literacy and empowerment, the country launched the first financial literacy program for public schools, equipping the younger generation with the tools to navigate the complexities of modern finance. El Salvador's visionary approach extended beyond technology and finance with the introduction of the first Blue Ocean Strategy of the 21st century, charting a new path for sustainable growth and innovation. President Bukele's leadership has been instrumental in shaping El Salvador's trajectory as a forward-thinking nation that embraces change and progress. President Bukele, hailed as the first Great Man in modern history by many, has been instrumental in spearheading these transformative initiatives and propelling El Salvador into a new era of technological advancement and economic prosperity. His vision and leadership have not only earned global recognition but have also inspired a wave of optimism and innovation within the country. Bitcoin Historico: El stage is set for a groundbreaking moment in San Salvador as El Salvador gears up to host the highly anticipated "Bitcoin Histórico" event on November 12 and 13, 2025. This event signifies a pivotal moment not only for the country but for the entire global Bitcoin ecosystem. With the National Bitcoin Office (ONBTC) at the helm, "Bitcoin Histórico" is not simply a conference on financial technology; it is a cultural, educational, and economic festival designed to bring Bitcoin closer to all Salvadorans. This event will shine a spotlight on El Salvador's trailblazing role as a pioneer in the adoption of cryptocurrency. Gathering some of the most notable figures in the Bitcoin ecosystem, including luminaries like Don Ricardo Salinas Pliego, Max Keiser, Milena Mayorga, ZUBY:, Jeff Booth ⚡️, Jack Mallers, Pierre Rochard, Jimmy Song (송재준), isa⚡️, Bitstein, Darin Feinstein, Giacomo Distributed-AuthoritariPuritan Zucco⚡️🌋🧀, …::: jon, wiz 🇸🇻, Fadi Elsalameen فادي السلامين ⚡️, Knut Svanholm ∞/21M, Preston Pysh, Efrat Fenigson, Lina Seiche, Eric Yakes and Stacy Herbert 🇸🇻🚀, "Bitcoin Histórico" is poised to be an unprecedented gathering of minds. Through keynote addresses and panel discussions, attendees will explore topics such as the future of money, monetary sovereignty, and the cultural implications of decentralization. However, what truly sets "Bitcoin Histórico" apart is its inclusive nature. The event promises a wide array of activities for attendees of all ages, from face painting for children to mural creation for youth. The highlight of the festival will be a professional mural painted by graffiti artists, showcasing Salvadoran creativity and innovation. For those eager to delve deeper into the world of Bitcoin, free classes will be offered by students from the CUBO+ program, providing an educational opportunity for all. Moreover, the event will feature live translations of keynote speeches on giant LED screens, ensuring that the insights shared reach a wide audience. "Bitcoin Histórico" is a celebration of not just technology but also of culture and community. By opening its doors to the public and offering free activities, El Salvador aims to democratize access to Bitcoin knowledge and foster a spirit of innovation among its citizens. As El Salvador continues to make strides in the realm of cryptocurrency, "Bitcoin Histórico" stands as a testament to the country's commitment to embracing the future. By hosting this historic event, El Salvador is not only solidifying its position as a global epicenter of Bitcoin but also projecting a vision of optimism for its economic and technological future. "Bitcoin Histórico" is more than an event; it is a declaration that a new era requires new ideas and new thinkers. Join Bitcoin Historico in San Salvador on November 12 and 13, 2025, as El Salvador embark on this transformative journey towards a decentralized future. To learn more about the event and secure your spot, visit and be a part of history in the making. Embrace the future with El Salvador, the pioneer of Bitcoin country. For further updates, follow The Bitcoin Office and Stacy Herbert 🇸🇻🚀 on Twitter. "Come to Visit El Salvador and make history, we invite you to live “The Salvadoran Dream” where we dare to dream, dare to innovate, dare to believe in the limitless potential of a nation that is rewriting its own story. El Salvador: where innovation meets inspiration, and the future is ours to shape." #Bitcoin #ElSalvador #NayibBukele
2:24

El Salvador: Pioneering a Bright Future Through Innovation and Vision In recent years, El Salvador has emerged as a beacon of innovation and progress under the visionary leadership of President Nayib Bukele. From groundbreaking legislation to transformative initiatives, the country has been at the forefront of ushering in a new age of growth and development. In this article, we delve into El Salvador role as a global leader of Bitcoin and the positive trajectory for its economic and technological future El Salvador made history by being the first country to enact the Bitcoin Law, establishing a legal framework for the use of cryptocurrency in everyday transactions. This landmark legislation was followed by the creation of the Strategic Bitcoin Reserve, signaling the country's commitment to embracing digital currency as a means to drive economic empowerment and financial inclusion. Further cementing its position as a trailblazer in the digital realm, El Salvador unveiled the first Bitcoin Embassy, a hub for fostering innovation and collaboration within the cryptocurrency ecosystem. In a bold move, the country also implemented the first AI Law and Robot Law, setting the stage for the ethical and responsible integration of artificial intelligence and robotics in various sectors. Expanding its technological footprint, El Salvador introduced the cutting-edge B300 chips, demonstrating its commitment to advancing digital infrastructure and connectivity. In a bid to foster financial literacy and empowerment, the country launched the first financial literacy program for public schools, equipping the younger generation with the tools to navigate the complexities of modern finance. El Salvador's visionary approach extended beyond technology and finance with the introduction of the first Blue Ocean Strategy of the 21st century, charting a new path for sustainable growth and innovation. President Bukele's leadership has been instrumental in shaping El Salvador's trajectory as a forward-thinking nation that embraces change and progress. President Bukele, hailed as the first Great Man in modern history by many, has been instrumental in spearheading these transformative initiatives and propelling El Salvador into a new era of technological advancement and economic prosperity. His vision and leadership have not only earned global recognition but have also inspired a wave of optimism and innovation within the country. Bitcoin Historico: El stage is set for a groundbreaking moment in San Salvador as El Salvador gears up to host the highly anticipated "Bitcoin Histórico" event on November 12 and 13, 2025. This event signifies a pivotal moment not only for the country but for the entire global Bitcoin ecosystem. With the National Bitcoin Office (ONBTC) at the helm, "Bitcoin Histórico" is not simply a conference on financial technology; it is a cultural, educational, and economic festival designed to bring Bitcoin closer to all Salvadorans. This event will shine a spotlight on El Salvador's trailblazing role as a pioneer in the adoption of cryptocurrency. Gathering some of the most notable figures in the Bitcoin ecosystem, including luminaries like Don Ricardo Salinas Pliego, Max Keiser, Milena Mayorga, ZUBY:, Jeff Booth ⚡️, Jack Mallers, Pierre Rochard, Jimmy Song (송재준), isa⚡️, Bitstein, Darin Feinstein, Giacomo Distributed-AuthoritariPuritan Zucco⚡️🌋🧀, …::: jon, wiz 🇸🇻, Fadi Elsalameen فادي السلامين ⚡️, Knut Svanholm ∞/21M, Preston Pysh, Efrat Fenigson, Lina Seiche, Eric Yakes and Stacy Herbert 🇸🇻🚀, "Bitcoin Histórico" is poised to be an unprecedented gathering of minds. Through keynote addresses and panel discussions, attendees will explore topics such as the future of money, monetary sovereignty, and the cultural implications of decentralization. However, what truly sets "Bitcoin Histórico" apart is its inclusive nature. The event promises a wide array of activities for attendees of all ages, from face painting for children to mural creation for youth. The highlight of the festival will be a professional mural painted by graffiti artists, showcasing Salvadoran creativity and innovation. For those eager to delve deeper into the world of Bitcoin, free classes will be offered by students from the CUBO+ program, providing an educational opportunity for all. Moreover, the event will feature live translations of keynote speeches on giant LED screens, ensuring that the insights shared reach a wide audience. "Bitcoin Histórico" is a celebration of not just technology but also of culture and community. By opening its doors to the public and offering free activities, El Salvador aims to democratize access to Bitcoin knowledge and foster a spirit of innovation among its citizens. As El Salvador continues to make strides in the realm of cryptocurrency, "Bitcoin Histórico" stands as a testament to the country's commitment to embracing the future. By hosting this historic event, El Salvador is not only solidifying its position as a global epicenter of Bitcoin but also projecting a vision of optimism for its economic and technological future. "Bitcoin Histórico" is more than an event; it is a declaration that a new era requires new ideas and new thinkers. Join Bitcoin Historico in San Salvador on November 12 and 13, 2025, as El Salvador embark on this transformative journey towards a decentralized future. To learn more about the event and secure your spot, visit and be a part of history in the making. Embrace the future with El Salvador, the pioneer of Bitcoin country. For further updates, follow The Bitcoin Office and Stacy Herbert 🇸🇻🚀 on Twitter. "Come to Visit El Salvador and make history, we invite you to live “The Salvadoran Dream” where we dare to dream, dare to innovate, dare to believe in the limitless potential of a nation that is rewriting its own story. El Salvador: where innovation meets inspiration, and the future is ours to shape." #Bitcoin #ElSalvador #NayibBukele

Translating El Salvador

23,975 Aufrufe • vor 8 Monaten

BITCOIN RAILS #61: QUANTUM CRYPTOGRAPHY FOR BITCOIN | with Dan Boneh Dan Boneh 🔗 YOUTUBE: 🌿 SPOTIFY: One of the most prolific and influential cryptographers in the world, it’s difficult to fully quantify the impact that Dan Boneh has had on Bitcoin and digital assets more broadly. Through both his own research and his mentorship of some of the space’s most important contributors — e.g. Andrew Poelstra, Benedikt Bünz ☕️, and Robin Linus — few people have done more to shape the cryptographic foundations underlying modern blockchains and digital finance. More recently, Dan co-authored Google's widely discussed paper, “Securing Elliptic Curve Cryptocurrencies against Quantum Vulnerabilities,” which reduced prior estimates of the resources required to run Shor’s algorithm against the elliptic-curve cryptography used by Bitcoin. The paper reignited debate around quantum computing timelines and the long-term security assumptions behind modern cryptocurrencies. In this episode of Bitcoin Rails, Dan and I discuss the current state of quantum computing, its potential implications for Bitcoin, and how he believes the Bitcoin community should think about preparing for a post-quantum future over the coming decade and beyond. And yes, Dan shares his take on the “when quantum” question in the interview, among other key perspectives. This episode of Bitcoin Rails is brought to you by my NEW sponsors: LayerTwo Labs LayerTwo Labs — developing research, software, and technologies for scaling Bitcoin via the integration of Drivechains (BIP 300/301) Hashi on Sui — a primitive for executing Bitcoin Defi transactions, without having to trust a federated bridge or other centralized entity BitBox BitBox — an open-source Bitcoin-only hardware wallet, with smooth UX and no compromises on security. Check out Bitbox [dot] swiss and use code BITCOINRAILS to get a discount TIMESTAMPS: 00:00 — Intro and Dan’s history with cryptography and Bitcoin 11:44 — Shor's algorithm: how a 1994 paper became cryptography's most important threat 16:39 — Building a quantum computer: superconducting qubits vs neutral atoms 25:37 — When should we start worrying about quantum computers? The timeline debate 31:51 — Have we already reached quantum computing's “ahá” moment? 39:09 — Inside the Google paper: how Shor's algorithm was optimized 49:57 — The Bitcoin mempool attack and the 10-minute window 59:21 — Mitigation: what should Bitcoin do to prepare for quantum? 1:11:54 — Hash-based vs lattice-based signatures: Dan's case for lattice 1:23:15 — ZK proofs, BIP361, and what to do with Satoshi's coins 1:31:52 — Encrypted mempools and MEV 1:38:29 — Why Bitcoin will survive quantum and Dan's message to Bitcoin builders
1:44:02

BITCOIN RAILS #61: QUANTUM CRYPTOGRAPHY FOR BITCOIN | with Dan Boneh Dan Boneh 🔗 YOUTUBE: 🌿 SPOTIFY: One of the most prolific and influential cryptographers in the world, it’s difficult to fully quantify the impact that Dan Boneh has had on Bitcoin and digital assets more broadly. Through both his own research and his mentorship of some of the space’s most important contributors — e.g. Andrew Poelstra, Benedikt Bünz ☕️, and Robin Linus — few people have done more to shape the cryptographic foundations underlying modern blockchains and digital finance. More recently, Dan co-authored Google's widely discussed paper, “Securing Elliptic Curve Cryptocurrencies against Quantum Vulnerabilities,” which reduced prior estimates of the resources required to run Shor’s algorithm against the elliptic-curve cryptography used by Bitcoin. The paper reignited debate around quantum computing timelines and the long-term security assumptions behind modern cryptocurrencies. In this episode of Bitcoin Rails, Dan and I discuss the current state of quantum computing, its potential implications for Bitcoin, and how he believes the Bitcoin community should think about preparing for a post-quantum future over the coming decade and beyond. And yes, Dan shares his take on the “when quantum” question in the interview, among other key perspectives. This episode of Bitcoin Rails is brought to you by my NEW sponsors: LayerTwo Labs LayerTwo Labs — developing research, software, and technologies for scaling Bitcoin via the integration of Drivechains (BIP 300/301) Hashi on Sui — a primitive for executing Bitcoin Defi transactions, without having to trust a federated bridge or other centralized entity BitBox BitBox — an open-source Bitcoin-only hardware wallet, with smooth UX and no compromises on security. Check out Bitbox [dot] swiss and use code BITCOINRAILS to get a discount TIMESTAMPS: 00:00 — Intro and Dan’s history with cryptography and Bitcoin 11:44 — Shor's algorithm: how a 1994 paper became cryptography's most important threat 16:39 — Building a quantum computer: superconducting qubits vs neutral atoms 25:37 — When should we start worrying about quantum computers? The timeline debate 31:51 — Have we already reached quantum computing's “ahá” moment? 39:09 — Inside the Google paper: how Shor's algorithm was optimized 49:57 — The Bitcoin mempool attack and the 10-minute window 59:21 — Mitigation: what should Bitcoin do to prepare for quantum? 1:11:54 — Hash-based vs lattice-based signatures: Dan's case for lattice 1:23:15 — ZK proofs, BIP361, and what to do with Satoshi's coins 1:31:52 — Encrypted mempools and MEV 1:38:29 — Why Bitcoin will survive quantum and Dan's message to Bitcoin builders

Isabel Foxen Duke⚡️

112,906 Aufrufe • vor 1 Monat

Denver HeatPunk Summit Video "Heat is a product not a problem" - Tyler Stevens ⚡️🔥 The HeatPunk Summit is over but the movement continues. If you missed the event you're going to feel some serious FOMO after you watch this. This video highlights the quality and the signal that came from the Under|Mine HeatPunk Summit. Huge shoutout to everyone who helped make this video possible. We had and incredible time at the summit and cannot wait for next year. We are looking forward to the progress that the HeatPunks are making in decentralizing hashrate and pushing this grasroots movement forward. P.s. I tried to tag everyone who was featured and may have even been seen in the background. But i know i missed a lot of them so If you see someone i haven't tagged please tag them in the comments. You can follow our Youtube accounts below 👇 Build-a-Mine Bitcoin Mining World Thank you to Bitcoin Mining World and Jordan Ketter for Producing this amazing video. The Space Tyler Stevens ⚡️🔥 Cody Dylan Cody Anderson - Mukwano Coffee Guy⚡ Hashrate House Toine Re₿el in Texas Softwarm LLC Justin McAfee Nathan Simone 🏴‍☠️ Kent Halliburton ElectroThermal Design Patrick @ Untethered Mining 🔌⛏️ Altair Technology® ⛏️ Tatum Turn Up (lock in arc) Kristian Csepcsar Fog Hashing m0ntan1 Neil ₿ 🦁 Canaan Inc. Ryan Ramminger CryoByte PizzAndy🍕 ~/satstackingpleb 🚌☀️⛏️ Michael Schmid ⚡️ Mechanic #BIP-110 Bob Burnett Trevor bello Travis Bitckle Martin Connor Summer Meng Bodi Wallace Bitstorian Nicolas Drouin Paul Jin Li Bob WarmBitcoin Barnminer
7:40

Denver HeatPunk Summit Video "Heat is a product not a problem" - Tyler Stevens ⚡️🔥 The HeatPunk Summit is over but the movement continues. If you missed the event you're going to feel some serious FOMO after you watch this. This video highlights the quality and the signal that came from the Under|Mine HeatPunk Summit. Huge shoutout to everyone who helped make this video possible. We had and incredible time at the summit and cannot wait for next year. We are looking forward to the progress that the HeatPunks are making in decentralizing hashrate and pushing this grasroots movement forward. P.s. I tried to tag everyone who was featured and may have even been seen in the background. But i know i missed a lot of them so If you see someone i haven't tagged please tag them in the comments. You can follow our Youtube accounts below 👇 Build-a-Mine Bitcoin Mining World Thank you to Bitcoin Mining World and Jordan Ketter for Producing this amazing video. The Space Tyler Stevens ⚡️🔥 Cody Dylan Cody Anderson - Mukwano Coffee Guy⚡ Hashrate House Toine Re₿el in Texas Softwarm LLC Justin McAfee Nathan Simone 🏴‍☠️ Kent Halliburton ElectroThermal Design Patrick @ Untethered Mining 🔌⛏️ Altair Technology® ⛏️ Tatum Turn Up (lock in arc) Kristian Csepcsar Fog Hashing m0ntan1 Neil ₿ 🦁 Canaan Inc. Ryan Ramminger CryoByte PizzAndy🍕 ~/satstackingpleb 🚌☀️⛏️ Michael Schmid ⚡️ Mechanic #BIP-110 Bob Burnett Trevor bello Travis Bitckle Martin Connor Summer Meng Bodi Wallace Bitstorian Nicolas Drouin Paul Jin Li Bob WarmBitcoin Barnminer

The Build-a-Mine Podcast

11,055 Aufrufe • vor 1 Jahr

Michael Saylor just went on CNBC and said that if Bitcoin drops 90%, he'll simply "refinance the debt" and "roll it forward." This guy is a desperate fraud who has NO CLUE what he's talking about. Let's actually look at what "rolling it forward" means in reality: Strategy holds 714,644 Bitcoin purchased at an average cost of $76,056 per coin. Total acquisition cost: $54.35 billion. Bitcoin is trading around $68,000. Already below their cost basis. The company carries over $8 billion in debt. 100% of its convertible notes are now out of the money. Now imagine Saylor's own scenario. Bitcoin drops 90%. That takes it to roughly $6,800. Strategy's 714,644 Bitcoin would be worth approximately $4.9 billion. Against $8 billion in debt. The assets don't cover the liabilities. Period. And he thinks banks are going to refinance that? On what collateral? On what cash flow? Because Strategy's operating cash flow was negative $138 million in 2025. Down from negative $53 million the year before. The trajectory is going the wrong direction. When asked: "You think banks would lend to you at that point?" Saylor just laughed it off. But here's who's not laughing: 11 state pension funds that bought MSTR as a "regulated proxy" for Bitcoin exposure. CalPERS. New York State. Florida. Wisconsin. New Jersey. Teachers. Firefighters. Police officers. Together they hold 1.8 million shares. Their original investment: $577 million. Current value: $240 million. That's $337 million in paper losses. Most funds are down 60%. CalPERS, the largest public pension fund in the country, bought 448,000 shares for $144 million. That position has been cut nearly in half. These aren't hedge fund cowboys who can stomach a drawdown. These are retirement systems with fiduciary obligations to millions of public workers. Meanwhile $MSTR has fallen from $543 to roughly $123. Down 77% from its all-time high. Saylor says he'll buy Bitcoin "every quarter forever" and will never sell. But that's not how debt works. You don't get to choose when your creditors come calling. You don't get to "roll forward" $8 billion in debt when your only asset has collapsed and your operating business generates negative cash flow. The people who say "we'll just refinance" are always the ones who can't. The question isn't whether Saylor believes in Bitcoin. The question is whether pension funds managing trillions in retirement savings should be exposed to a leveraged single-asset bet run by a man who laughs off a 90% drawdown scenario on national tv. Teachers. Firefighters. State employees. Their retirement savings are sitting inside a company that just posted a $12.4 billion loss and whose chairman's contingency plan is "we'll figure it out." That's STUPID. And the people who'll pay the price aren't on CNBC. They're counting on those pensions to be there when they retire.
0:39

Michael Saylor just went on CNBC and said that if Bitcoin drops 90%, he'll simply "refinance the debt" and "roll it forward." This guy is a desperate fraud who has NO CLUE what he's talking about. Let's actually look at what "rolling it forward" means in reality: Strategy holds 714,644 Bitcoin purchased at an average cost of $76,056 per coin. Total acquisition cost: $54.35 billion. Bitcoin is trading around $68,000. Already below their cost basis. The company carries over $8 billion in debt. 100% of its convertible notes are now out of the money. Now imagine Saylor's own scenario. Bitcoin drops 90%. That takes it to roughly $6,800. Strategy's 714,644 Bitcoin would be worth approximately $4.9 billion. Against $8 billion in debt. The assets don't cover the liabilities. Period. And he thinks banks are going to refinance that? On what collateral? On what cash flow? Because Strategy's operating cash flow was negative $138 million in 2025. Down from negative $53 million the year before. The trajectory is going the wrong direction. When asked: "You think banks would lend to you at that point?" Saylor just laughed it off. But here's who's not laughing: 11 state pension funds that bought MSTR as a "regulated proxy" for Bitcoin exposure. CalPERS. New York State. Florida. Wisconsin. New Jersey. Teachers. Firefighters. Police officers. Together they hold 1.8 million shares. Their original investment: $577 million. Current value: $240 million. That's $337 million in paper losses. Most funds are down 60%. CalPERS, the largest public pension fund in the country, bought 448,000 shares for $144 million. That position has been cut nearly in half. These aren't hedge fund cowboys who can stomach a drawdown. These are retirement systems with fiduciary obligations to millions of public workers. Meanwhile $MSTR has fallen from $543 to roughly $123. Down 77% from its all-time high. Saylor says he'll buy Bitcoin "every quarter forever" and will never sell. But that's not how debt works. You don't get to choose when your creditors come calling. You don't get to "roll forward" $8 billion in debt when your only asset has collapsed and your operating business generates negative cash flow. The people who say "we'll just refinance" are always the ones who can't. The question isn't whether Saylor believes in Bitcoin. The question is whether pension funds managing trillions in retirement savings should be exposed to a leveraged single-asset bet run by a man who laughs off a 90% drawdown scenario on national tv. Teachers. Firefighters. State employees. Their retirement savings are sitting inside a company that just posted a $12.4 billion loss and whose chairman's contingency plan is "we'll figure it out." That's STUPID. And the people who'll pay the price aren't on CNBC. They're counting on those pensions to be there when they retire.

George Noble

136,159 Aufrufe • vor 5 Monaten

🚨 I WARNED YOU BITCOIN WOULD DUMP TO $65K IN JUNE Remember when everyone blamed Jane Street for every Bitcoin dump? I told you the manipulation wouldn’t stop, and $BTC would dump again. But most people ignored it. The bear market is only 60% complete. And everything is going according to plan. The biggest mistake people make is believing manipulation requires a manipulator. It doesn't. The most powerful forms of control are built directly into market structure. And that's exactly what's happening right now. Bitcoin demand is exploding globally. Institutions are accumulating. Governments are watching. Supply on exchanges keeps shrinking. Yet price continues to behave as if none of it matters. Why? Because the demand isn't reaching the market where price is actually discovered. It's being absorbed. Redirected. Neutralized. The same infinite-supply mechanism that existed before is still operating today. The original Bitcoin thesis is broken. Bitcoin’s valuation was built on two ideas: → A hard cap of 21 million → No rehypothecation That framework died the moment Wall Street layered this on top of the chain: → Cash-settled futures → Perpetual swaps → Options → ETFs → Prime broker lending → Wrapped BTC → Total return swaps From that point forward Bitcoin supply became theoretically INFINITE. Only now, most people have stopped looking. That's what makes it dangerous. Every cycle has a point where reality and price become disconnected. Every cycle has a moment when the suppression mechanism reaches its limit. By the time mainstream media starts explaining what happened, it’ll already be over. The people waiting for confirmation become exit liquidity. The people paying attention beforehand change their lives. Everything appears normal. Until suddenly it isn't. That's why I never cared about Jane Street. I care about the structure. Because structure doesn't fail loudly. It fails silently. Then all at once. The next phase of Bitcoin won't be driven by hype. It will be driven by the collapse of assumptions people currently believe are permanent. And when that happens, most won't understand what they're seeing. Pay attention. Quick reminder: I’ve called all the major market tops and bottoms for the last 10 years, including the Bitcoin bottom at $17,000 and the top at $126,000. I’ll share my next call publicly here, like I always do. Follow and turn notifications on. Don't become exit liquidity once again.
0:37

🚨 I WARNED YOU BITCOIN WOULD DUMP TO $65K IN JUNE Remember when everyone blamed Jane Street for every Bitcoin dump? I told you the manipulation wouldn’t stop, and $BTC would dump again. But most people ignored it. The bear market is only 60% complete. And everything is going according to plan. The biggest mistake people make is believing manipulation requires a manipulator. It doesn't. The most powerful forms of control are built directly into market structure. And that's exactly what's happening right now. Bitcoin demand is exploding globally. Institutions are accumulating. Governments are watching. Supply on exchanges keeps shrinking. Yet price continues to behave as if none of it matters. Why? Because the demand isn't reaching the market where price is actually discovered. It's being absorbed. Redirected. Neutralized. The same infinite-supply mechanism that existed before is still operating today. The original Bitcoin thesis is broken. Bitcoin’s valuation was built on two ideas: → A hard cap of 21 million → No rehypothecation That framework died the moment Wall Street layered this on top of the chain: → Cash-settled futures → Perpetual swaps → Options → ETFs → Prime broker lending → Wrapped BTC → Total return swaps From that point forward Bitcoin supply became theoretically INFINITE. Only now, most people have stopped looking. That's what makes it dangerous. Every cycle has a point where reality and price become disconnected. Every cycle has a moment when the suppression mechanism reaches its limit. By the time mainstream media starts explaining what happened, it’ll already be over. The people waiting for confirmation become exit liquidity. The people paying attention beforehand change their lives. Everything appears normal. Until suddenly it isn't. That's why I never cared about Jane Street. I care about the structure. Because structure doesn't fail loudly. It fails silently. Then all at once. The next phase of Bitcoin won't be driven by hype. It will be driven by the collapse of assumptions people currently believe are permanent. And when that happens, most won't understand what they're seeing. Pay attention. Quick reminder: I’ve called all the major market tops and bottoms for the last 10 years, including the Bitcoin bottom at $17,000 and the top at $126,000. I’ll share my next call publicly here, like I always do. Follow and turn notifications on. Don't become exit liquidity once again.

0xNobler

43,284 Aufrufe • vor 1 Monat

HORRIFYING‼️ Our Food Is About To Be Poisoned With NEW “Transgenic Edible Vaccines” 💉☣️ They’re Being Funded Right Now BY TAXPAYERS, mRNA Food Vaccine FACTORIES 🚨 “The Chair recognizes the gentleman from Kentucky. Mr. Chairman, I rise in support of my amendment, which states that none of the funds made available by this act may be used to fund any grant related to any transgenic edible vaccine. Does the term transgenic edible vaccine sound far-fetched? Well, it's not. We're funding it. In fact, scientists from the University of California, Riverside, funded with your taxpayer dollars, have been studying whether they can turn edible plants such as lettuce and spinach into mRNA vaccine factories, thereby creating a transgenic edible vaccine. One associate professor at UCR explained that, ideally a single plant would produce enough mRNA to vaccinate a single person. We are testing this approach with spinach and lettuce and have long-term goals of people growing it in their own gardens. Farmers could also eventually grow entire fields of it. I don't think this is a good idea. I don't think the American people should be funding this. And I think, and I would hope, that we've learned something from the COVID experience with SARS-CoV-2, that some of our science projects aren't the best ideas. And with that, I reserve. Gentlemen from Kentucky is recognized. My colleague on the other side of the aisle talks about keeping prices low. I think there's more to it than that for the American people. He also speaks as if these vaccines, these transgenic edible plant vaccines, are only used for livestock. Well, in fact, they have been used for livestock. I'll get to that in a second. But they're also being used for people. That is the intended outcome of many of these programs that we are funding, funding with money from the USDA. What could possibly go wrong with this research? Well, we found out a few years ago when a biotech company was experimenting growing in corn a vaccine to keep pigs from getting diarrhea. What happened? Well, the next year where the corn was grown, the prior year the corn came up, and it got co-mingled with soybeans that were being grown there. It contaminated 500 bushels of soybeans, which were then co-mingled with 500,000 bushels of soybeans. And those all had to be recalled and destroyed. Luckily, they caught it. Do we want humans eating vaccines that were grown in corn meant to stop pigs from getting diarrhea? I don't think we want that to happen. Yet that almost happened, and it could happen. There's another case where the pollen cross-contaminated another crop of corn, and 155 acres of corn had to be burned. What are the cases where we're not discovering this? I think it's dangerous to play God with our food. I think we need a safe food supply. And this is about food safety. Ultimately, the people in this country need to know what's in their food. And if we start contaminating the DNA of our food with DNA from other animals or viruses, the pollen could spread, and we don't know what could happen. And I would hope we've learned a lesson from the Wuhan lab that sometimes things escape sometimes things don't go as you plan and so that's why i think it's a bad idea to fund transgenic edible plant vaccine research from the u.s. day i urge adoption of my amendment and i yield back the balance of my time the question is on the amendment offered by the gentleman from kentucky those in favor say aye those opposed say no in the opinion of the chair the ayes have it the amendment is agreed to”
3:53

HORRIFYING‼️ Our Food Is About To Be Poisoned With NEW “Transgenic Edible Vaccines” 💉☣️ They’re Being Funded Right Now BY TAXPAYERS, mRNA Food Vaccine FACTORIES 🚨 “The Chair recognizes the gentleman from Kentucky. Mr. Chairman, I rise in support of my amendment, which states that none of the funds made available by this act may be used to fund any grant related to any transgenic edible vaccine. Does the term transgenic edible vaccine sound far-fetched? Well, it's not. We're funding it. In fact, scientists from the University of California, Riverside, funded with your taxpayer dollars, have been studying whether they can turn edible plants such as lettuce and spinach into mRNA vaccine factories, thereby creating a transgenic edible vaccine. One associate professor at UCR explained that, ideally a single plant would produce enough mRNA to vaccinate a single person. We are testing this approach with spinach and lettuce and have long-term goals of people growing it in their own gardens. Farmers could also eventually grow entire fields of it. I don't think this is a good idea. I don't think the American people should be funding this. And I think, and I would hope, that we've learned something from the COVID experience with SARS-CoV-2, that some of our science projects aren't the best ideas. And with that, I reserve. Gentlemen from Kentucky is recognized. My colleague on the other side of the aisle talks about keeping prices low. I think there's more to it than that for the American people. He also speaks as if these vaccines, these transgenic edible plant vaccines, are only used for livestock. Well, in fact, they have been used for livestock. I'll get to that in a second. But they're also being used for people. That is the intended outcome of many of these programs that we are funding, funding with money from the USDA. What could possibly go wrong with this research? Well, we found out a few years ago when a biotech company was experimenting growing in corn a vaccine to keep pigs from getting diarrhea. What happened? Well, the next year where the corn was grown, the prior year the corn came up, and it got co-mingled with soybeans that were being grown there. It contaminated 500 bushels of soybeans, which were then co-mingled with 500,000 bushels of soybeans. And those all had to be recalled and destroyed. Luckily, they caught it. Do we want humans eating vaccines that were grown in corn meant to stop pigs from getting diarrhea? I don't think we want that to happen. Yet that almost happened, and it could happen. There's another case where the pollen cross-contaminated another crop of corn, and 155 acres of corn had to be burned. What are the cases where we're not discovering this? I think it's dangerous to play God with our food. I think we need a safe food supply. And this is about food safety. Ultimately, the people in this country need to know what's in their food. And if we start contaminating the DNA of our food with DNA from other animals or viruses, the pollen could spread, and we don't know what could happen. And I would hope we've learned a lesson from the Wuhan lab that sometimes things escape sometimes things don't go as you plan and so that's why i think it's a bad idea to fund transgenic edible plant vaccine research from the u.s. day i urge adoption of my amendment and i yield back the balance of my time the question is on the amendment offered by the gentleman from kentucky those in favor say aye those opposed say no in the opinion of the chair the ayes have it the amendment is agreed to”

Wall Street Apes

494,593 Aufrufe • vor 2 Jahren

What Yamato and Iowa Teach Us The Yamato was grandiose, the largest guns ever designed for a warship, with nine 46 cm (18.1-inch) main guns capable of firing shells up to 42 km, the farthest of their era. A thick hull, with belt armor up to 410 mm thick, protected that giant. On the other side, the Iowa boasted more agile turret traversal, a more powerful engine delivering speeds of 33 knots, and precise radar (Mark 8 and Mark 13 fire-control systems) capable of directing accurate shots beyond 30 km, even in poor visibility. Despite Yamato's bigger guns, its effective firing range was actually shorter than Iowa's, since it relied primarily on optical sighting, limiting engagements to around 25-30 km in good conditions. In fact, Yamato was built without radar and only received a basic, imprecise one in the final year of the war. What a disservice to a historical giant. In a confrontation, the Iowa would not only dictate the speed and establish the engagement range but also extend that range further thanks to its superior sensors. What do the Americans need to learn from this? It doesn't help to increase size when you lack the technology to impose and sustain that advantage. Actually the Chinese have at least 9 models of hypersonic missiles that are very difficult to defend against. Sure, plenty of folks don’t like reading about that, but until the GPI (Glide Phase Interceptor, a ship-launched missile designed to intercept hypersonic threats during their glide phase) is completed and the SM-6 sees significant maturation for reliable hypersonic defense, including ongoing upgrades and real tests, I'd say the bigger the ships, the bigger the targets. And if equipment-based countermeasures don't arrive in time, a total fleet reorganization becomes necessary, preferably decentralizing C2 to reduce vulnerability, as I've written before. Beyond that, US need to accelerate and take seriously the research and development of more capable missiles. Missiles became one of the most important factor in naval warfare. The lesson remains: Only increase size when the technology can ensure the ship's survival and combat efficiency.
0:33

What Yamato and Iowa Teach Us The Yamato was grandiose, the largest guns ever designed for a warship, with nine 46 cm (18.1-inch) main guns capable of firing shells up to 42 km, the farthest of their era. A thick hull, with belt armor up to 410 mm thick, protected that giant. On the other side, the Iowa boasted more agile turret traversal, a more powerful engine delivering speeds of 33 knots, and precise radar (Mark 8 and Mark 13 fire-control systems) capable of directing accurate shots beyond 30 km, even in poor visibility. Despite Yamato's bigger guns, its effective firing range was actually shorter than Iowa's, since it relied primarily on optical sighting, limiting engagements to around 25-30 km in good conditions. In fact, Yamato was built without radar and only received a basic, imprecise one in the final year of the war. What a disservice to a historical giant. In a confrontation, the Iowa would not only dictate the speed and establish the engagement range but also extend that range further thanks to its superior sensors. What do the Americans need to learn from this? It doesn't help to increase size when you lack the technology to impose and sustain that advantage. Actually the Chinese have at least 9 models of hypersonic missiles that are very difficult to defend against. Sure, plenty of folks don’t like reading about that, but until the GPI (Glide Phase Interceptor, a ship-launched missile designed to intercept hypersonic threats during their glide phase) is completed and the SM-6 sees significant maturation for reliable hypersonic defense, including ongoing upgrades and real tests, I'd say the bigger the ships, the bigger the targets. And if equipment-based countermeasures don't arrive in time, a total fleet reorganization becomes necessary, preferably decentralizing C2 to reduce vulnerability, as I've written before. Beyond that, US need to accelerate and take seriously the research and development of more capable missiles. Missiles became one of the most important factor in naval warfare. The lesson remains: Only increase size when the technology can ensure the ship's survival and combat efficiency.

Patricia Marins

132,846 Aufrufe • vor 6 Monaten