“I’m a maximalist for now. Digital wartime. Bitcoin only.” -@Balaji

Today Coinbase received a Wells notice from the SEC focused on staking and asset listings. A Wells notice typically precedes an enforcement action.

“The President's Annual Economic Report to Congress has a 20 page chapter focused on bitcoin with the conclusion that it is irrelevant and cannot compete with the dollar. So irrelevant they dedicated 20 pages to it.” - #[0]

WHITE HOUSE: “Although the underlying technologies are a clever solution for the problem of how to execute transactions without a trusted authority, crypto assets currently do not offer widespread economic benefits. They are largely speculative investment vehicles and are not an effective alternative to fiat currency. Also, they are too risky at present to function as payment instruments or to expand financial inclusion. Even so, it is possible that their underlying technology may still find productive uses in the future as companies and governments continue to experiment with DLT. In the meantime, some crypto assets appear to be here to stay, and they continue to cause risks for financial markets, investors, and consumers. Much of the activity in the crypto asset space is covered by existing regulations and regulators are expanding their capabilities to bring a large number of new entities under compliance (SEC 2022). Other parts of the crypto asset space require coordination by various agencies and deliberations about how to address the risks they pose (U.S. Department of the Treasury 2022a). Certain innovations, such as FedNow and a potential U.S. CBDC, could help bring the U.S. financial infrastructure into the digital era in a clear and simple way, without the risks or irrational exuberance brought by crypto assets. Hence, continued investments in the Nation’s financial infrastructure have the potential to offer significant benefits to consumers and businesses, but regulators must apply the lessons that civilization has learned, and thus rely on economic principles, in regulating crypto assets.” https://www.whitehouse.gov/wp-content/uploads/2023/03/ERP-2023.pdf

HAS THE WIND changed? Have you been contacted by (formerly skeptical) friends/fam who are now seeking an orange pill?

The price of bitcoin is acceptance that you were wrong about bitcoin.

The price of bitcoin is your ego.

UNCLE SAMBankmanFried

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#[0]​ posted The Mandibles author Lionel Shriver’s new bitcoin wallet on the bird app 30 minutes ago and it already has $25,000 political currency units worth of BTC from plebs. I hope he updates us on her reaction when the dust settles.

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A legacy bank rugging half of Silicon Valley is just about the best marketing campaign to corporate treasurers that bitcoin could have, would you agree #[0]

In optimistic news, there’s probably no better life-lesson for the entire tech industry on the value-prop of bitcoin than having a significant portion of your community getting their bank accounts frozen and then vaporized without notice. Not your keys, not your cash.

“plus the economically confused would-be central planners are undermining the fiat competition. by self-destroying fiat credibility and fitness with the dystopian social controls. the money printing hyper-inflationary death-spiral drives people to wake up and take evasive action.” - #[0]

I feel like we need a vivid street slang word for bitcoin itself, something that when spoken identifies the speaker as a member of a distinct cultural tribe. ‘Sats’ is growing in use, but there could be something more gritty, alive. What will the people of the cypherfuture call it, plebs?

"Proof of work relies on physics to tell you what is true, and proof of stake relies on human judgement: 'I will tell you what is true.'" #[0]​ on #[1]

Paul Krugman discovers the rugpull….

Nostr feels like a lifeboat of authenticity for the coming storm of AI-bot fake content on social media, (the way many think of bitcoin as a lifeboat from the storm of fake money)

On the face of it, it’s understandable to believe that vocal BTC maxi’s are motivated by pure self-interest (greed). But wait: If a person believes that the hardest money wins exclusively AND that BTC is the hardest money, then is it not altruistic to spend time and effort informing others? The self-interested response would be to stack SILENTLY.

Try it for yourself: BitcoinOrShit.com

ZAP POLL: How do you pronounce ‘Nostr’? Zap your preference in comments 👇