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Simply Bitcoin
simplybitcoin@primal.net
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Keeping you up-to-date with the peaceful Bitcoin revolution.
Bitcoin split into two separate chains this week. Japan's biggest insurers are sitting on $100 billion in unrealized losses. Jamie Dimon just said America's reserve currency status could be slipping away. And Bitcoin kept producing blocks through all of it. Dante Cook walks through why the same week Bitcoin proved it can survive a civil war, the system it's supposed to replace kept showing why people want out.
BIP-110 could trigger a Bitcoin chain split, hard fork, and even a proof-of-work change. Samson Mow says only 1–2% of hash rate is currently supporting it and calls the potential outcome a “big, juicy nothing burger.” Rustin and Samson break down the BIP-110 controversy and what could happen next.
BIP-110 could trigger a Bitcoin chain split, hard fork, and even a proof-of-work change. Samson Mow says only 1–2% of hash rate is currently supporting it and calls the potential outcome a “big, juicy nothing burger.” Rustin and Samson break down the BIP-110 controversy and what could happen next. 👇
The biggest scam wasn't convincing you to work harder. It was convincing you inflation is normal. Millennials & Gen Z did everything they were told. Yet the finish line keeps moving. Hurley explains why. 👇
If you lost your Bitcoin in the Coldcard & BTCPayServer attack this week... Our hearts go out to you. 🧡 This is not the end. Keep your head up. Keep building. Keep stacking.
🚨Update your BTCPayServer immediately!!! 🚨 YOUR FUNDS MAY BE AT RISK!!! The @BTCPay Server attack is real 👇 1. Server settings > maintenance > update 2. Wait 60 seconds > refresh 3. Verify v2.4.2 in the bottom right hand corner at 👇 image
PSA 🚨 Google is currently selling its top sponsored ad slot for "Trezor wallet" searches to a phishing site, not Trezor. At least one user reports losing his life savings after typing his recovery seed into it. Google took payment for the ad space. The scammer took his Bitcoin. Trezor has confirmed it and is fighting for a takedown. Google's ad review somehow missed a wallet drainer buying a paid placement above the real company's own website. Never type your seed phrase into any website, ever. Bookmark your wallet's official site instead of Googling it, sponsored slots get bought by scammers and Google keeps cashing the check. image
Zach Herbert breaks down what really happened with the Coldcard Bitcoin wallet vulnerability — and how it was introduced:
Boomers that had Bitcoin on exchanges bc they couldn't figure out hardware wallets
A Coldcard co-founder maintained the code behind the wallet's random number generator under a pseudonym for five years. Nobody flagged it because nobody knew it was him. $116 million and 5,200 wallets later, Rustin walks the timeline and hands you the receipts.
Following the recent Coldcard incident, Nick Neuman, CEO of @Casa explains how Bitcoiners can build a more resilient self-custody setup by eliminating single points of failure: "I think that there's still a lot of potential for self-custody for the future of humanity." "People really need to shift their mindset when they are self-custodying their assets. You need to figure out a setup where multiple different providers, companies, security experts, are acting as a check on each other. And if one of them fails, your whole setup doesn't fail."
If you got rid of your Coldcard, you might want to do the same with your BlockClock. image
Over $100 million drained from Coldcard wallets. A Treasury adviser resigns days before the biggest crypto bill in a decade. Trump Media quietly sells $165 million in Bitcoin. Jim Cramer dumps his over a quantum scare that's still years away. Dante lays all four side by side and asks the question nobody else is asking. What if none of it is a coincidence.
"Bitcoin is built on cryptography... the math didn't break. It was just the coldcard's math was faulty... don't give up on self custody as a concept." "Bitcoin lost over exchange hacks or failures is way more than in this coldcard issue... these exchanges might have better security than you can do yourself theoretically, but then you're putting all your trust in the third party and that's giving up on almost the entire value proposition of Bitcoin." @Luke de Wolf
Multisig Bitcoin cold storage will be the standard going forward.
Japan just deployed nearly $60 billion to defend the yen at a 40-year low. The US backed the move, selling euros to buy yen. Why does Washington care this much? Japan holds over $1 trillion in US Treasuries. Dante traces the line to America's own $40 trillion debt problem.
"The central bank's job is to regulate the speed of that reset so that you don't notice it or you've learned to accept it. Because the reality is, historically, inflation is not a monetary phenomenon... It is a fiat government debt-based phenomenon." "Bitcoin being born in January of 2009 and quantitative easing being born in March of 2009, I don't think that's a coincidence... And that is a Trojan horse." - Lynette Zang
If you're on a Coldcard, single-sig especially, and didn't bring your own seed or use 100+ dice rolls, this is not a drill. Can't say for certain which you did? Move your funds now to a safer location, even temporarily. Rustin's advice: don't panic, but don't wait.