Bitcoin 🟠

"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.

URGENT: If you own a Coldcard, read this now. A firmware bug traced to 2021 has drained well over 1,000 Bitcoin, and Dante's tracking the number as it climbs, with reports still coming in. Affected: MK3, reportedly MK4, Q, MK5. Migrate if you used on device RNG.

Anthony Fauci pleaded the Fifth Amendment 111 times this week, even with a pardon already covering everything he could say. The same week, the 30-year Treasury yield hit its highest level since 2007. Hurley connects what got hidden about the money to the virus.

JASON HUGHES: "Mining is still quite centralized. That is one of the biggest risks to Bitcoin as a whole is the mining centralization." "We should never have that dynamic where the censorship resistance aspect of Bitcoin is threatened by just a couple of entities. It should never even be possible for a state actor or a handful of people to have that kind of control." "The closest you can be to the network is to mine your own blocks, self-custody your own Bitcoin and that's the way it should be with a fully decentralized network. And there's not enough of that still." @OCEAN

An Atlanta man returns from vacation. Customs pulls him aside over a protest group, demands his phone, no warrant. He gives them his passcode, a GrapheneOS duress PIN, and the phone wipes itself. He now faces 5 years for how his phone was designed.

MICHAEL SAYLOR: "Bitcoin's core design is set in stone. Protocol changes should be rare, conservative, driven by necessity, not ambition. Don't fix what isn't broken." Sophi points to a live fight inside Bitcoin about how much it should even change.

LAWRENCE LEPARD: "If Bitcoin goes to zero, fine... There's no way I'm abandoning this movement because I believe the movement's more than just about making money. The movement's about fixing the goddamn money, which is really broken and has ruined our world." "If you see something that you know will make the world a better place, it's incumbent upon all of us to try and convince our neighbors. Because this is how good ideas spread." @Lawrence Lepard

NOLAN BAUERLE: "They completely removed accountability from the political system... they put the bureaucracy between the people and the government. The people have to deal with the bureaucracy, which is really what grew from Fiat, not the government."

A top bank says the Clarity Act isn't priced into Bitcoin yet. Japan is pulling the plug on the cheapest money in the world, the money that inflated stocks, AI, and every risk asset alive. Dante traces how Bitcoin's catalyst collided with the trade that built this bull market.

S&P just launched a crypto index. Bitcoin didn't make the cut. Their reason: it doesn't generate revenue. Neither does gold. Neither has the dollar, ever. Hurley cuts through the noise here. Bitcoin isn't failing to qualify as a business, it never tried to be one.

Stay focused on your own path. Bitcoin

Stop giving your Bitcoin to Wall Street. We got into Bitcoin to get away from them.

Bitcoin's max pain theory usually means an 80 to 90% crash. Rustin argues there's another version: Bitcoin repricing so violently upward that ordinary people get priced out entirely. Not because Bitcoin failed. Because trust in everything else failed first.

EFRAT FENIGSON: "We're seeing the creep of what's called Agenda 2030, the United Nations Plan for global control, just creeping in." "The decade of 2020 to 2030 is that transitory phase between the old world order that we know more or less from the time of Bretton Woods after the second world war to the new world order that is now coming into play." @Efrat Fenigson

Jack Mallers stepped down from 21 Capital. Satsuma is liquidating. Adam Back's SPAC just got terminated. Parker Lewis called this outcome years ago: a great way to get less Bitcoin. Rustin argues this isn't bearish, it's the market filtering paper Bitcoin from the real thing.