"Bitcoin is a planetary scale, thermodynamically guaranteed, self evident system of immutability." - ANDREAS ANTONOPOULOS, 2016

Dont fall for the distractions: • US money supply (M2) Increased by 42% or $7 trillion since the pandemic • Since 2020, the minimum reserve requirement for US banks is 0% • FDIC reserves only cover 1.26% of US bank deposits • Government Budget deficits in the US (6.4% of GDP) and the EU (3.2% of GDP) are now higher than those during the Great Depression -Tuur Demeester Adamant Research, AUG 2025 report

Whitfiels Diffie - legend: "Diffie dropped out of MIT while studying computer science, eventually finding his way to California and McCarthy's Al Lab. Like many of his peers, Diffie loved The Codebreakers, but his obsession and fascination with Kahn's masterpiece elevated his passion for crypto from others. A friend of Diffie's recalled, "If you invited him to dinner, he'd come with The Codebreakers." Diffie maintained that he "read it more carefully than anyone had ever read it, like the Vedas." He described his quest to spread the crypto good word: "I was living out of my car, driving around the country talking to anyone who knew anything about cryptography. I had this old Datsun 510, and I just went from place to place,sleeping in the back seat, reading everything I could find. The NSA had a monopoly on cryptographic knowledge, and I was determined to break it. Every now and then I'd find someone who knew something interesting, and I'd stay for a while, learning what I could."

Hands down the best sport doc of all-time: F1 history Raw incredible behind the scenes footage Emotional musical score

Pumping w/o transactions

All publically traded businesses depend on future profits/gains to stay alive. New investors *support* the old ones as they expect the gains to continue. All businesses are ponzis

yo

send it ✅🕯️

"The Bitcoin Age is defined by a tale of two parallel worlds—a dollar-fueled machine of institutions with the power to create unlimited amounts of money, and a revolutionary technology that was designed to help the common man survive such a rigged system. With the invention of bitcoin, humankind has finally discovered a solution to disproportionally rising prices: universally accessible digital money with a limited supply, controlled by no one. Bitcoin, which lets people transact without government currencies or bank accounts, utilizes software freely available to anybody with a smartphone and the internet, resulting in a tool that, if harnessed correctly, frees people from the shackles of credit. Bitcoin is the arrival of better money." -Nik Bhatia Bitcoin Age

The solution in retrospect will be obvious:

Democracy + fiat does not work: Uncle Sam at an overall net-negative $143 trillion = unfunded liabilities+ current debt This is not fixable - perhaps we have a shot if we collapse into a benevolent dictatorship/monarchy that rules for 20+ years with a singular focus on fixing it. Democracy+Bitcoin held by the citizens could work - likely will be some pain getting along the way

protip dont be fragile

Bitcoin wasnt created/discovered for niche subgroups: -not for devs to innovate on -not for finance-bros to arb -not for influencers to monetize -not for gov insiders to front-run ✅ Bitcoin is for the PRODUCTIVE HUMANS - those making real stuff, in the real world - to save their work/talent/effort in a money that is reliable and secure

Bitcoin Companies = any co. that can consistently beat the hurdle rate + stack profits in bitcoin They have a massive advantages: ✅ their savings actually protects them from future uncertain, allowing them to focus on their product ✅ if enough conviction, they will bust-ass to avoid selling their corn

For 3+ years, I listen to "On the Brink", Castle Island's weekly Friday update (2x speed, 15 mins) to check-in on the blockchain, tokenized-security, VCers, ETFers, and Treasury Company bros. My take-home bullets: ✅ The bitcoin adjac noise is about to get really LOUD. Stay focused on the signal: work, stack bitcoin only, stay humble, self-custody, and take personal responsibility ✅ Most "digital asset maxis" don't really believe bitcoin will replace the USD. Even some *bitcoiners* dont believe - the "new-asset class maxis" crew ✅ Watch what people do, not what they say. ✅ Ultimately 90% of this stuff is building on fiat. Play stupid games, ..... ✅ It is ALL GOING TO ZERO against bitcoin