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John Dennehy
jdennehy@nostrplebs.com
npub1gaxa...985l
founder of My First Bitcoin / Based in El Salvador since 2021, moving to New York early 2026 / independent open-source Bitcoin education will change the world
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John Dennehy 10 months ago
Good morning from El Salvador We are now in DAY NINETEEN since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective 30 April) This is bad news for top-down bitcoin adoption But this makes grassroots, decentralized, community adoption even more important I want to highlight the Independent Bitcoin Educators Node Network which was launched by @My First Bitcoin in March 2023 and is now self governing, involving more than 60 projects from over 30 nations around the world who are building an alternative future together It is the most inspiring thing happening in the Bitcoin space today and the most likely emerging framework that could actually reimagine the future world In order to apply you must agree to the six consensus rules; that the education be: independent, impartial, community-led, Bitcoin-only, quality, and focus on empowerment The entire network uses the @MyfirstBitcoin_ Diploma and other open-source educational materials focused on bringing new people into the space in a way that teaches them 'how to think' rather than 'what to think' Every month we get together for a virtual General Assembly where we all share updates on whats happening with each node around the world and find ways to collaborate with each other. It is a real life manifestation that we are more than the sum of our parts. It transforms projects that otherwise may be isolated silos into integral pieces of a global, decentralized movement It is a revolution And like Bitcoin itself, it doesn't care what politicians, governments or international financial institutions do It is not just a theory, but a proof-of-concept that we can build global decentralized systems that empower its participants. It is what the future could look like--a radical reimagining of power And it is growing. The most recent block, which comes once a month, added six new nodes around the world More info on how the network functions and how you can apply to join here...
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John Dennehy 10 months ago
Good morning from El Salvador We are now in DAY EIGHTEEN since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective 30 April) Decentralized, grassroots bitcoin education and adoption is now more important than ever Yesterday I wrote about how @My First Bitcoin has doubled their 2025 goal to 21,000 students taught in El Salvador this year But that's not all. We will increase ALL of our efforts @myfirstbitcoin_ has been having education-focused grassroots meetups for over 3 years, always the last Thursday of the month in San Salvador We now host meets in the capital each Tuesday and, starting next week, are launching meetups in three new cities spread around the country—Santa Ana, San Miguel & Zacatecoluca The revolution will be bottom up. Join us
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John Dennehy 10 months ago
We are now in DAY SEVENTEEN since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective 30 April) The lack of transparency around the process and terms is a major problem and a symptom of a world in which small, elite, opaque groups decide for the rest of us. I’m talking about international financial organizations such as the IMF as well as national governments such as El Salvador If we want a better world, we need to do things differently @My First Bitcoin TValready announced that we are hiring new teachers and doubling our goal—teaching 21,000 students just in El Salvador just in 2025. But it’s not just about numbers. A better world will care about empowering the individual, not just dictating to them, and it will be more transparent. Here is our vision document for our Education Department, approved on Feb 7, 2025— Vision for the Education Department Mi Primer Bitcoin is not focused on bitcoin education, that is just a means to an end. The real goal is to empower. The real goal is to reimagine what’s possible. Bitcoin education is the best tool humanity has to not only allow the individual to take more control over their money, but in doing so to take more control over their own life, which in turn gives them more control over their own future, which finally leads to a shift in perspective and incentives—toward building, creating and learning. The question then becomes, knowing this end goal, how do we best create an Education Department to facilitate this mission? Focus. Within bitcoin education, what focus best helps achieve that end? Introductory bitcoin education, rather than advanced, is where we can do the most good and where students are the most malleable toward embracing this paradigm shift. It is the best opportunity to help put students on the path to believe that Bitcoin is more than just a new money, more than just a new technology, more than just a new investment. These students, new to bitcoin, are the ones we should focus on. Reject trying to do too much. We need to have a core, which right now is the Bitcoin Diploma and the Intro Course and may eventually expand to the introductory education for younger audiences. This does not mean we can’t create or use other materials, and this doesn’t mean that our core won’t evolve over time, but it does mean that we need to prioritize our finite resources on core products before all else. Teach them how to think, rather than what to think. The real objective in all of this is to empower the student and that means we can give them the information and prompt the right questions, but they have to be the ones to answer them. This is NOT the norm in education, including bitcoin education, as it is slower and harder—but it is essential to our mission. Always be independent and impartial. Even in the bitcoin space, very little education is independent and impartial, and that threatens to derail the tremendous potential of bitcoin education as a tool to think differently, to think independently, and as a true alternative to fiat. For us to succeed in our mission to allow students to come to their own conclusions we must be vigilant not just that we are actually independent and impartial, but also that the perception of the organization is. Our success here thus far has helped both the community and our students trust us, support us and help us grow. It’s taken years to build up that trust, but it can be destroyed in a day if we lose this value. Inspire others to join the movement, rather than try to absorb them into ourselves. This is not just about empowering students, or rather, our perspective must be that we are all students. This means we must open source everything—not just the materials but also the processes and philosophies. This also means we need to create spaces to collaborate and share best practices, encouraging collaboration from outside the project as well. We should never try to ‘control’ others, but rather inspire. image
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John Dennehy 10 months ago
Good morning from El Salvador We are now in DAY SIXTEEN since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective 30 April) I've spent a lot of time trying to explain whats happening because most people, including bitcoiners, do not understand how the IMF works and the influence it has over nations. I've also been very vocal in part because there was so much silence and censorship around an important subject It should now be clear how strongly I oppose this agreement and why, so let's talk about solutions While I've been ranting, the team at @My First Bitcoin has been building Since this law was passed they have taught around 1,000 new students in El Salvador, trained a new group of teachers and built new curriculum. And that's just domestic. This is all while building out a global infrastructure that makes this movement less reliant on any one jurisdiction The team has always evolved over the years and generally trended toward improvement but this current 2025 iteration has broken through to a new level and it's inspiring to witness Grassroots, independent & decentralized is the way The IMF deal is still a big deal and its still important to learn about whats happening there and draw attention to it, but the real change will be from the bottom up. That is as apparent as ever Onward! image
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John Dennehy 11 months ago
Good morning from El Salvador We are now in DAY FIFTEEN since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective 30 April) The question is: Is this a speed bump or a pivot? The govt of Nayib Bukele made a conscious decision to make these changes as quietly as possible and with zero communication Why? Maybe because he rallied against the evils of international organizations, such as the IMF, for years, accusing them of being a neo-colonial organizations that take away the sovereignty of nations and he can't swallow his pride enough to say that he too had to bend the knee Maybe because he knows this is an extremely complex subject and almost everyone is woefully uninformed about how the IMF actually works. That lack of understanding combined with his devoted fan base would create a confusing situation with enough noise to drown out and confuse the reality and the truth Back to the earlier question: is this a speed bump or a pivot? Silence is a choice and it speaks volumes image
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John Dennehy 11 months ago
We are now in DAY FOURTEEN since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective 30 April) There is much to learn from the El Salvador experience. Many things could have been done better This should be an objective truth Let’s admit this objective fact, and learn from it Let's have honest conversations & admit where mistakes were made On that note: Whatever happened to the Volcano Bonds? That seemed like it could have been an alternative to things like IMF loans--using standard energy to create debt to fund development. That was also announced in 2021 to much fanfare and not only did the Bonds never happen, but there was never any communication as to why If there is an emerging pattern of 'selective communication' we should all be concerned image
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John Dennehy 11 months ago
Good morning from El Salvador We are now in DAY THIRTEEN since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective after 90 days) This is NOT about particulars that were changed. It's about sovereignty. Everything comes down to sovereignty. That applies to the individual as well as the nation state Who gets to decide? The problem with our modern world, is that there are small, elite, opaque groups that decide for the rest of us and dictate our future They have their own interests and incentives. Even worse, these groups are opaque so by design its difficult to determine what exactly those interests and incentives are The IMF will now have deep access to everything to do with the terms of the agreement for years to come and effectively be able to dictate policy there by their de facto veto authority over anything that in their opinion (and ONLY their opinion) breaks the terms, which can be vague and open to interpretation Loan payments will take place over 40 months and only begin once all preconditions are met So what this means is that the IMF will dictate bitcoin policy in 'Bitcoin Country' until at least 2029 That should worry anyone who cares about Bitcoin. And the IMF should be opposed, at every turn, by anyone who cares about sovereignty image
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John Dennehy 11 months ago
Good morning from El Salvador We are now in DAY TWELVE since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective after 90 days) There has been a lot of confusion over the term 'legal tender,' so let's look at what it is and what's changed (or soon will) in El Salvador "Legal tender is a form of money that courts of law are required to recognize as satisfactory payment in court for any monetary debt" That had been the case in El Salvador after the passage of the Bitcoin Law in 2021. It was not often enforced though which may be part of the confusion. Regardless of how aggressively it was enforced, Bitcoin was legal tender The government will now be expressly prohibited from using Bitcoin (taxes, fees, etc.), however Bitcoin will continue to be legal in El Salvador and if two private parties voluntary wish to use Bitcoin to settle a debt they are free to do so. That may be a second point of confusion--'legal' and 'legal tender' are two very different things. Bitcoin is 'legal' in most of the world--what had made El Salvador special was that it was 'legal tender' The real world consequences of El Salvador dropping Bitcoin as legal tender are numerous. Here, there are reports of stores and landlords already dropping Bitcoin as a payment option. The biggest impact will be international though. The global financial bureaucracy is slow but had Bitcoin remained as legal tender it would have had to be recognized by large institutions such as the IMF and eventually every nation in the world as such which would give it certain protections and tax advantages It also sets a terrible precedent--the first nation to adopt Bitcoin as legal tender had to reverse that policy after three years. This will make it more difficult for future nations to adopt legal tender laws and without it as legal tender international institutions can continue to treat it as second-class This was a big deal in 2021 when it was passed and it's just as a big a deal in 2025 when it was removed Plenty of mistakes were made, which is to be expected when anything is being pioneered, and now is the time to acknowledge them so we can learn from them. That is how we will improve. That is how we will win Onward!
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John Dennehy 11 months ago
Good morning from El Salvador We are now in DAY ELEVEN since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective after 90 days) Today I want to talk about how important funding is, not just for nation states but for all of us We are captured by whoever funds us For example @nayibbukele used to rail against the influences of the IMF--but he's quiet now @MyfirstBitcoin_ does not take money from any government and never will. Why not? Because that would compromise our independence When I talk about the IMF I'm doing so for myself, not on behalf of the project. Still, the association is strong enough that if we took money from the govt I would have to self-censor A bitcoin education project that needs to self-censor, in any form, is no longer speaking truth to power. They are now on the path to speaking FOR power It's much harder to get financial support if you have strict ethics and won't accept ANY money that may compromise your independence. But if we want to change the world, via bitcoin education, it is the only way Support INDEPENDENT bitcoin education. We can't do this without YOU image
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John Dennehy 11 months ago
Good morning from El Salvador We are now in DAY TEN since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective after 90 days) The IMF deal went after Bitcoin as a Medium of Exchange, while mostly ignoring Bitcoin as a Store of Value. For example, the govt will be explicitly prohibited from using Bitcoin (such as for taxes or the visa entry fee) though there was no mention of the Bitcoin reserve the nation holds and I presume that means it will be unaffected This is part of a global conspiracy to blunt some of the most revolutionary aspects of Bitcoin and push it toward ONLY being a SoV Our response shall be global as well On April 10th Bitcoin educators from around the world will come together at @Bitcoin Park in Nashville to share best practices and build a global movement around independent, community-led (decentalized) bitcoin education Join us!
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John Dennehy 11 months ago
Good morning from El Salvador! We are now in DAY NINE since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective after 90 days) This means grassroots, independent Bitcoin education is now MORE important than ever In response, at @My First Bitcoin we have decided to double the amount of teachers, and double the number of students taught here this year (21,000 students in El Salvador is our new goal for 2025) We are currently training a new class of teachers right now at our HQ in San Salvador Waste no time in mourning; organize! image
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John Dennehy 11 months ago
The IMF deal with El Salvador has split the Bitcoin community That's fine. We are all on this for different reasons and this helps clarify that and will help each of us find our tribe If you are in this because you see Bitcoin as a tool to empower, then we are in the same tribe If you think small, opaque groups of elite should continue to dictate to the rest of the world, you are in a different tribe Clarity is a good thing. Onward!
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John Dennehy 11 months ago
Good morning! We are now in DAY FIVE since El Salvador rescinded Bitcoin as legal tender, at the request of the IMF There continues to be a lot of misunderstanding about what happened on Wednesday, so it might be worth giving a brief overview In 2021 El Salvador made history by becoming the first nation in the world to adopt Bitcoin as legal tender. The president, Nayib Bukele, aided by @jack mallers announced this to much fanfare at the largest bitcoin conference in the world. In the next days the president did a sort of media tour, appearing on various twitter spaces and podcasts to champion the new law Fast forward 3+ years In December of 2024 El Salvador and the IMF announced a draft agreement for a loan which came with various conditions, many relating to Bitcoin in El Salvador The way IMF loans work, the nation needs to conform to various conditions before the agreement becomes official and any payments are disbursed. The revisions passed Wednesday were sent by the president and was passed with no discussion or comment. There was no media tour, in fact there has been almost no information at all from the govt The IMF takes away a nation’s sovereignty. The law changes passed Wednesday and other changes to come are at the behest of the IMF, so it makes sense they would not be very keen to draw attention to this, but still, the silence has been deafening. It has also created a lot of confusion Some quick facts: - The laws passed on Wednesday need to be published in the Official Gazette, then 90 days from that date they will become law. This is standard for El Salvador. For example, the 2021 Bitcoin Law was announced and passed in June but went into effect in September. - No word on when the new law will be published, but likely this week. - Once these new laws go into effect Bitcoin will cease to be legal tender in El Salvador - The govt will no longer accept Bitcoin as payment for anything (taxes, immigration fees, etc.) - The government Bitcoin wallet application, Chivo, will be sold - The loan will be disbursed over a 40-month period and in that time the IMF will have deep access to anything related to the terms of the agreement and effectively have to approve any changes/ may mandate further changes from the government to conform to the terms In addition to the above, there may be further changes related to this line in the draft agreement: For the public sector, engagement in Bitcoin-related economic activities and transactions in and purchases of Bitcoin will be confined. Due to the lack of communication, it is pure speculation how this will be interpreted. It’s possible that the above changes will be enough to satisfy this line. It’s also possible El Salvador will be forced to make further concessions. Hopefully the government gains its voice back and can clarify the various changes, but otherwise it will months of close observation before we can fully understand the impact image