last week on my citadel dispatch rip with @ODELL i talked about how unbelievable it is that the BANKING LOBBY pushing for the equal treatment of bitcoin advocating for repeal of things like SAB 121 (unfair accounting treatment of bitcoin that makes it financially not viable for banks to service bitcoin) well, since the rip we've really been seeing the full force of that political power shift. the bill that repeals SAB 121 went through both house and the senate. so stuff like unfair accounting treatments or bans of regulated entities to touch or service bitcoin, those things i have increasing confidence will be sorted out soon (which is good news b/c it means more ppl will be able to buy bitcoin with less friction; imagine opening your normal banking app and being able to buy bitcoin there). the real fight now that remains in a tough place that we need to really focus our energy on feels like protecting our ability to interact with bitcoin the asset and network in a non-custodial way which governments are increasingly focused on pushing out while financial firms are trying to move closer to bitcoin. it was a crazy week so didn't have time to post earlier but was really happy to see the peer-to-peer rights fund come together this week. everyone should check it out and donate! bitcoin policy institute doing incredible work. https://p2prights.org/

crazy week

going on citadel dispatch tomorrow! come watch and ask questions 🙏 View quoted note →

ecash is how we win

i’m going to be at the MIT bitcoin expo this weekend (to talk about bitcoin etfs and our dev donation program) who else is coming? would love to meet folks

i find myself trying to post on nostr first as a nod to the network even if i later cross post to X

we put care into designing bitwise’s bitcoin etf donation mechanism features: - *no strings attached* donations - to established non profit orgs rather than individuals to be further arm’s length from devs - three orgs (open sats, brink, hrf) rather than one to reduce bias and increase reach - recurring annual donation tied to 10% of profit of the etf to increase transparency and predictability -long term commitment (10 years) yes you can dunk on it as “wall street money” but not all wall street money is the same and we put effort into reducing potential for harm while still funding devs my view is that every actor benefiting from bitcoin should bias towards funding devs while being mindful of harm donors can create (lmk if bitwise can be doing better here! open to feedback for sure but disagree with the idea that etf profits as a funding source is fundamentally corrupt or bad)

receiving some questions about this. i’m not knowledgeable about the matter since i don’t believe matt is referring to bitwise’s bitcoin etf here. fwiw we’re still very much committed to donating 10% of profits of our bitcoin etf to open source bitcoin devs (via opensats, brink, and hrf) as announced. View quoted note →

is there a zap limit? or just whatever LN liquidity allows?

cannot stop thinking about ecash send help

this podcast ep was so good. few new ecash things that clicked for me: - you can deterministically generate secrets for the ecash tokens from a seed so that ecash can be backed up and restored with similar UX to bitcoin - the multi-source multi-destination atomic LN tx thing is just next level for practical privacy and censorship resistance holy shit View quoted note →

hmm damus doesn’t render images immediately and require a tap to load/render?

i like primal but notifications are pretty bad (likes not collapsing is really tough). trying out damus for a bit here. multi client open network FTW

trying to understand the chainlink proof of reserves product for bitcoin etfs. for example this is the site for arkb (https://data.chain.link/feeds/ethereum/mainnet/arkb-por) how does this work? seems like it's not really tied to the bitcoin blockchain and is simply a custodian attestation but how do the chainlink oracles get access to arkb's bitcoin balance at coinbase? it's non public information no?

i’m willing to pay sats to good relays and good clients. please charge me for services i value. ad attention based internet of the past has set bad norms and we need to break out of them.

now that i *use* sats (zap ppl everyday), sats feel more money-like to me intuitively. there's something primal about using a form of money that makes you believe that it is money. i'm excited for the world to bypass the whole intellectual journey of "is bitcoin money?" and just intuitively experience bitcoin as money by using it