Back to basics:

If you remove the fraud, you launch a deflationary spiral - Jeff Booth

Ignore the noise, focus on the numbers: $39T debt $1.9T deficit 10Y yields: 4.5% 21 million

Best money wins There will be a winner Now is the time to lay your bets Fiat based investiments are the ponzi

F-the 58k gang, bottom is in

Maple AI: zcash.... This is one of Zcash's core tensions: **the same cryptography that hides transaction amounts also makes it impossible to directly audit balances inside shielded pools.** Here's how verification works—and where its limits are: ## How Supply Is Verified: The Turnstile Zcash uses **turnstile accounting** across its value pools (Transparent, Sprout, Sapling, Orchard, and Lockbox). The idea is simple: - **Entry is visible:** All ZEC enters the shielded pools from transparent addresses or mining rewards (public amounts) - **Exit is visible:** When ZEC leaves a shielded pool for a transparent address, the amount is revealed - **The turnstile calculates:** Expected pool balance = (total in) − (total out) Anyone running a Zcash node can check this via `getblockchaininfo` (look for the `valuePools` field). Third-party sites like **zcha.in** also monitor these balances. ## The Catch: Hidden Intermediate States The turnstile only verifies **net flows** across pool boundaries. **Inside** a shielded pool, transactions are hidden by zk-SNARKs. This means: - ✅ You can verify the *total* supply isn't inflated (no extra ZEC entered the system) - ❌ You **cannot cryptographically prove** that coins *inside* the pool weren't counterfeited via a circuit bug ## Real-World Example: The June 2026 Orchard Bug This limitation just made headlines. A soundness bug was found in the Orchard shielded pool circuit (discovered late May, patched June 2–3, 2026). The Zcash Foundation confirmed: - The turnstile showed **no net inflation** of total ZEC supply - However, because Orchard hides amounts, **there is no way to cryptographically prove** whether counterfeit coins were created *inside* the pool before the fix This created an "auditability paradox" that contributed to a ~31% price crash—even after the bug was patched. ## Proposed Fix **Shielded Labs** has proposed a network upgrade that would: - Deploy a new shielded pool - Route **all coins exiting Orchard** through enforced turnstile accounting - Let anyone independently verify no counterfeiting occurred This must pass Zcash governance before activation. ## Bottom Line Users can verify the *global* supply cap through turnstiles, but **cannot audit the integrity of specific shielded pool internals** if a zero-knowledge circuit bug exists. Privacy and complete auditability are fundamentally in tension.

Maple AI estimate of Total global sovereign issuance 10y gov bonds: Including (OECD + emerging markets) is likely in the $18–$22 trillion per year range recently. The 10-year tenor is typically one of the most liquid benchmark maturities. If it represents roughly 15–25% of total sovereign issuance by volume (a rough industry heuristic, not a hard statistic), that would imply: ~$2.5–$5 trillion per year globally for 10-year government bonds ~$200–$450 billion per month on average

Rustin again

Spotify

Bloomberg Says WORST Bitcoin Winter EVER Is About To Get WORSE! | Simply Originals

Simply Bitcoin · Episode

Jalen Brunson!!!!

Jalen Brunson!!!!

#deck -life almost done Summer is near

Bullish LFG

Austrian Value Theory The Austrian concept of value at the margin (or marginal utility) is the idea that the value of a good is determined not by its total usefulness or the labor required to produce it, but by the least important use to which an additional (marginal) unit can be put. Why It Mattered This overturned the classical economists' labor theory of value. The Austrians showed that value is causally prior to price: people first subjectively value goods at the margin, and those valuations give rise to exchange ratios (prices) in the market. In short, to the Austrian School, value is an ordinal, subjective ranking of the specific, marginal satisfaction a person expects from one more unit of a good.

Austrian Econ for the common man - well worth the listen. https://fountain.fm/episode/sQPaZQiKCBI8p5pDch8b?t=1383

What does everybody want? a cash-like instrument backed by the government a cash-like instrument backed by math and physics

Spotify

Arthur Hayes: The Bitcoin Liquidity Wave Is Here

What Bitcoin Did · Episode