Bitcoin

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Last Notes

2024-10-23 00:11:20

Probably nothing… #note1lgv…0nty

2024-08-27 01:10:51

*Corporate Censorship and the Clash with Decentralized Networks*
The arrest of Telegram's founder Pavel Durov and the takedown of Bitcoin content on YouTube highlight the growing tension between state control and decentralized technologies.
- Corporations often yield to state pressure, leading to censored content and compromised principles, as seen with Google and Apple’s actions in China.
- Decentralized networks like Bitcoin and Nostr offer resistance to state repression, providing anonymity and a means to circumvent corporate and governmental control.
- These events underscore the critical need for self-custody and peer-to-peer networks to uphold privacy and counter state intrusions globally.
https://www.forbes.com/sites/digital-assets/2024/08/26/telegram-and-youtube-censorship-show-bitcoin-and-nostr-are-critical/

2024-08-13 17:24:12

Decentralized Future with Nostr
Social media platforms like Facebook, X, Instagram, and TikTok face criticism for centralized control, censorship, and data misuse. In contrast, Nostr offers a decentralized and censorship-resistant alternative, allowing users to control their data and identity independently of major corporations.
- Nostr, championed by key figures like Jack Dorsey, aims to revolutionize digital communication by leveraging an open, community-run protocol similar to Bitcoin, fostering a resilient and censorship-free network.
- Users on Nostr can choose their algorithms, exercise sovereignty over their content, and receive monetary support via Bitcoin, marking a significant departure from traditional social media silos.
https://reason.com/2024/08/13/can-nostr-make-twitters-dreams-come-true/

2024-07-24 11:13:09

Statement on Inefficiencies in Monitoring Suspicious Financial Activity
The Wolfsberg Group has identified major inefficiencies in current models for monitoring suspicious financial activities, stating that despite increased volumes of Suspicious Activity Reports (SARs) and Suspicious Transaction Reports (STRs), there is no substantial improvement in detecting and reducing financial crime.
- The existing SAR/STR filing methods are deemed inefficient and ineffective, with no uniform framework to measure their effectiveness.
- Europol and other entities have similarly found that current AML/CFT frameworks fail to confiscate most criminal profits, highlighting a need for more effective measures.
https://www.therage.co/banks-aml-inefficient-access-to-social-media/

2024-07-10 18:44:06

Riot Platforms and Bitfarms Engage in High-Stakes Battle Over Bitcoin Mining
Two publicly traded bitcoin mining operators, Riot Platforms and Bitfarms, have been locked in a contentious struggle. After Bitfarms rejected a merger proposal from Riot, Riot launched an activist campaign to influence Bitfarms' corporate governance by proposing new board members and criticizing its leadership issues.
This battle highlights differing strategies post-bitcoin halving, as companies merge, expand, or diversify into AI data centers to maximize shareholder value.
- Riot has amassed a nearly 15% stake in Bitfarms and is campaigning to "fix Bitfarms' broken corporate governance."
- Bitfarms has adopted a poison pill strategy to prevent Riot from taking over.
https://www.axios.com/2024/07/10/riot-platforms-bitfarms-merger-battle

2024-07-09 18:50:54

Bitcoin Mining Stocks Outperform Bitcoin Itself
Core Scientific has significantly outperformed Bitcoin itself by capitalizing on its head start post-bankruptcy and making strategic deals.
- Investors see mining stocks as a more advantageous way to gain Bitcoin exposure compared to buying the cryptocurrency directly.
- Core Scientific's deals with CoreWeave and debt restructuring have bolstered its market position, highlighting the dynamic nature of the mining industry.
https://www.axios.com/2024/07/09/core-scientific-bitcoin-miner-performance

2024-07-02 01:58:03

Bitcoin's Exponential Growth Outpaces the Internet's Early Years
Bitcoin's adoption rate is surpassing that of the internet during its initial growth phase. As of 2024, the number of Bitcoin users is expected to reach around 200 million, aiming to hit 1 billion within two decades compared to the internet's 500 million users during its first twenty years.
- Bitcoin's market capitalization has skyrocketed from $1 billion in 2013 to over $1 trillion by 2021, achieving this milestone faster than major tech companies like Apple, Google, and Amazon.
- Institutional adoption and technological innovations, such as the Lightning Network, are driving forces behind Bitcoin's rapid growth, enhancing its transaction speed, reducing costs, and increasing its viability for everyday use.
- Bitcoin's decentralized nature and accessibility, particularly in regions with underdeveloped financial systems, enable swift and cost-effective cross-border transactions, further fueling its swift adoption.
https://www.thedigitalcommonwealth.com/posts/is-bitcoin-really-growing-faster-than-the-internet

2024-06-26 19:33:01

Federal Jury Convicts Florida Man in Cryptocurrency Kidnapping Scheme
A federal jury has convicted Remy St Felix of leading an international conspiracy to kidnap and rob U.S. citizens for their cryptocurrency, committing a series of violent home invasions across several states.
- The scheme involved forcibly accessing victims' cryptocurrency accounts and laundering stolen funds using anonymity-enhanced cryptocurrencies and decentralized platforms.
- St Felix faces a mandatory minimum of seven years in prison, with a potential maximum of life, following his upcoming sentencing.
https://www.justice.gov/usao-mdnc/pr/man-convicted-violent-home-invasion-robberies-steal-cryptocurrency

2024-06-17 00:11:56

Migration 5: Breaking Down the Border Surveillance Network
The Migration 5 alliance, built on post-WWII intelligence-sharing agreements and expanded significantly post-9/11, uses advanced biometrics to track individuals across borders, enabling real-time data sharing of travellers' and migrants' information among member countries: New Zealand, Australia, Canada, the US, and the UK.
- New Zealand began participating in 2011 and has since shared extensive biometric and biographic data, raising concerns about privacy, transparency, and potential misuse, especially as oversight mechanisms remain limited and data-sharing agreements remain obscure and flexible.
https://www.rnz.co.nz/programmes/in-depth-special-projects/story/2018942836/the-truth-about-the-shadowy-migration-5

2024-06-02 22:49:35

Financial Privacy Illusion
Despite efforts to secure financial privacy, the government has significantly encroached on personal financial information over the past 50 years. Financial surveillance has evolved through obscure legislative changes, inflation-driven expansions, and confidentiality requirements that keep the public unaware of the true extent of government monitoring.
- Initial legislation like the Bank Secrecy Act began this shift, requiring financial institutions to report significant transactions, with subsequent laws expanding the scope of surveillance.
- Inflation further eroded privacy by not adjusting reporting thresholds, indirectly increasing the number of transactions subject to government scrutiny.
- Confidentiality laws prevent individuals from knowing if their financial activities have been reported to the government, creating a false sense of privacy.
To address these issues, raising public awareness and advocating for stronger privacy protections are essential steps.
https://reason.com/2024/05/30/the-illusion-of-financial-privacy/

2024-05-30 07:10:07

**Coin Center Criticizes FinCEN's Rule on CVC Mixing**
Coin Center argues that FinCEN's proposal to classify convertible virtual currency (CVC) mixing as a primary money laundering concern (PMLC) is overly broad and unprecedented. They assert it could wrongly affect many legitimate transactions, infringing on individuals' constitutional rights without due process.
- Coin Center highlights the lack of clear guidelines, which could lead to erroneous reporting of lawful domestic transactions.
- They urge FinCEN to refine the rule, incorporating clearer definitions and procedural fairness to prevent undue economic and reputational harm to innocent parties.
https://www.coincenter.org/comments-to-the-financial-crimes-enforcement-network-on-proposal-of-special-measure-regarding-convertible-virtual-currency-mixing-as-a-class-of-transactions-of-primary-money-laundering-conce/

2024-05-26 05:41:37

Joseph Cox Unveils FBI’s Encrypted Phone Sting in New Book
Joseph Cox, co-founder of 404 Media and renowned cybersecurity reporter, discussed his upcoming book "Dark Wire: The Incredible True Story of the Largest Sting Operation Ever" on the Decoder podcast. The book narrates how the FBI ran a secure phone company called Anom for three years to spy on criminals globally by infiltrating the encrypted phone market used by drug traffickers.
- The FBI's operation succeeded in providing law enforcement agencies with unparalleled access to criminal communications, highlighting the ongoing tension between privacy and security in technology.
- The rise of apps like Signal has shifted criminal communications away from specialized hardware, presenting new challenges in maintaining both security and privacy.
https://www.theverge.com/2024/5/23/24163389/joseph-cox-dark-wire-fbi-phone-startup-anom-criminals-secure-messaging-decoder-interview

2024-05-22 01:07:30

### Spam Attack on Bluesky Highlights Vulnerabilities in Decentralized Networks
A recent spam attack on Bluesky, facilitated through botnets leveraging "bridges" between decentralized networks Mastodon and Nostr, exemplifies the vulnerabilities inherent in federated social media systems. The attack saw a flood of "vote Trump" messages infiltrate Bluesky, demonstrating the complexities and challenges of maintaining security in interconnected decentralized platforms.
- The bots exploited interoperability bridges, transferring spam from Nostr to Mastodon and finally to Bluesky.
- The incident raises significant questions about the nature of consent and network inclusion within federated social media systems like Bluesky and Mastodon.
https://techcrunch.com/2024/05/21/the-vote-trump-spam-that-hit-bluesky-in-may-came-from-decentralized-rival-nostr/

2024-05-16 02:44:32

Biden's New Battle on Bitcoin Privacy
The Biden administration has initiated stringent measures on Bitcoin privacy, leading to notable disruptions in the U.S. Bitcoin ecosystem. Recent incidents include the arrests of several Bitcoin privacy tool developers, such as those from Samourai Wallet and Tornado Cash. Actions such as these against key individuals in the Bitcoin community underscore an intensified crackdown on cryptocurrency privacy, fueling concerns over the implications for financial autonomy and privacy.
- Government officials are cautious but acknowledge the potential overreach of such measures, hinting at a complex interplay of political and ideological motives behind the crackdown.
- The dialogue at the Financial Times’ Crypto and Digital Assets Summit revealed a disparity between the harsh governmental actions and the perspectives of individual officials who advocate for clearer and fairer regulations to support Bitcoin's growth and integration into commercial frameworks, emphasizing the need for a balanced approach to regulation.
https://www.therage.co/us-officials-sour-on-biden-war-on-privacy/

2024-05-04 00:10:59

Euthanized by the State
In Canada, the availability of Medical Assistance in Dying (MAiD) has been criticized for potentially leading individuals in socioeconomic distress or those with disabilities to opt for assisted death due to inadequate social welfare and healthcare systems. A report highlights how MAiD, while intended for terminal illnesses, has been chosen by individuals with non-life-threatening conditions, like hearing loss, driven by a lack of adequate care or poverty.
- Amidst rising housing and living costs, those on disability support or welfare in Ontario face severe financial strains, pushing some towards considering MAiD.
- Legal and ethical debates intensify around the extension of MAiD to include mental illnesses, with concerns that it might prematurely end lives of those who could have lived longer with proper support and care.
https://jacobin.com/2024/05/canada-euthanasia-poor-disabled-health-care

2024-05-01 08:49:04

Revolutionizing Payments with BOLT12
BOLT12, the new payment protocol on the Lightning Network, offers greater privacy and efficiency without requiring dedicated servers. It introduces reusable offers and invoices that enhance security and privacy through features like onion messages and blinded paths, which obscure transaction details and participant identities effectively.
- BOLT12 simplifies transactions by allowing offers to replace the traditional, cumbersome BOLT11 invoices, thereby enabling smaller QR codes and stateless transactions.
- This protocol ensures increased anonymity with the use of blinded paths and unique keys for each transaction, making it difficult to trace payments back to the participants.
https://lightningdevkit.org/blog/bolt12-has-arrived/

2024-04-21 07:59:42

FTX Settlement Agreement
Investors of the failed cryptocurrency exchange FTX have agreed to drop their claims against the company’s founder Sam Bankman-Fried (SBF) in exchange for his cooperation against celebrities like Tom Brady and Shaquille O’Neal, who endorsed FTX. This settlement, tentatively valued at $1.3 million, is part of a larger strategy to hold accountable the public figures who promoted the platform. SBF, recently sentenced to 25 years for fraud, will assist by providing documents and an affidavit of his negative net worth.
- The focus on celebrities, who allegedly attracted investors to FTX under false pretenses, raises questions about accountability and liability of endorsers in financial promotions.
- This cooperative agreement follows significant testimonies from other FTX executives and highlights the broader implications of the FTX collapse within celebrity and financial landscapes.
https://www.bitget.com/news/detail/12560603972604

2024-04-13 00:17:43

IMF Pressures El Salvador on Bitcoin Law
The International Monetary Fund (IMF) is challenging El Salvador's Bitcoin policy, straining negotiations over a needed $1.4 billion credit line. The IMF's concerns with the country's pioneering move to adopt Bitcoin as legal tender include financial stability and integrity risks, putting President Nayib Bukele's vision of financial inclusion and economic innovation at odds with the global financial institution. Despite the IMF's stance, El Salvador remains committed to its Bitcoin strategy, highlighting a broader conflict over monetary sovereignty and the future of decentralized finance.
- El Salvador's adoption of Bitcoin aimed to enhance financial inclusion and reduce reliance on traditional banking systems.
- The disagreement with the IMF underscores a significant ideological and practical rift between global financial institutions and nations exploring cryptocurrency as a legal tender.
https://bitcoinmagazine.com/el-salvador-bitcoin-news/imf-demands-changes-to-el-salvadors-bitcoin-law-report

2024-04-02 00:27:20

@npub1aft…dcke the hackers got into your Gmail and are resetting your passwords for your other services.

2024-03-21 22:25:16

EU's New Anti-Money Laundering Measures Stir Controversy
The EU Parliament's committees have approved stringent anti-money laundering regulations, banning anonymous cash transactions over €10,000 in business settings and any anonymous cryptocurrency payments. MEP Patrick Breyer criticizes the legislation for infringing on financial privacy and personal freedom, highlighting the historical significance of cash for privacy and the potential risks of increased bank dependency and digital financial surveillance. Despite efforts to combat crime, critics argue these measures will minimally affect crime rates while significantly impacting civil liberties and the use of virtual currencies.
- Over 90% of EU citizens opposed cash payment limitations in a 2017 survey, valuing anonymous transactions as a crucial personal freedom.
- Law enforcement's success in tracing Bitcoin transactions questions the necessity of stringent regulations on cryptocurrencies, with concerns over their global regulation due to the internet's nature.
https://www.patrick-breyer.de/en/eu-cash-cap-and-ban-on-anonymous-crypto-payments-results-in-financial-paternalism/

2024-03-21 16:54:12

Whirlpool Protocol's Major Decentralization Update
The Whirlpool protocol introduces a significant update enhancing decentralization by utilizing the Soroban network for client and Coordinator communication. This shift away from a centralized Coordinator server to automatic server discovery within the encrypted, app-agnostic Soroban network minimizes downtime and disruption, marking it as the "Whack-A-Mole" stage of decentralization. Users are urged to update their Samourai software to the latest versions to maintain compatibility and benefit from uninterrupted service. This update underscores a move towards bolstering privacy and resilience, ensuring seamless operation without interruption for users seeking anonymity in their transactions.
- Soroban, developed by Samourai Wallet, emerges as a pivotal tool for secure, decentralized communication across the Whirlpool protocol.
- With the decentralization update, the Whirlpool Coordinator eliminates reliance on a static clearnet domain for communication, now operating exclusively via Soroban to sustain anonymity and operational resilience.
https://blog.samourai.is/decentralized-whirlpool-stage-1/

2024-03-17 02:35:01

Craig Wright Not Satoshi Nakamoto, UK Court Rules
A UK judge declared "overwhelming evidence" against Craig Wright's longstanding claim of being Satoshi Nakamoto, the pseudonymous creator of Bitcoin. Justice James Mellor dismissed Wright's assertions, marking an end to the controversy in a trial that scrutinized Wright's claim through a nonprofit's lawsuit aimed to halt his litigation based on alleged fabrications. The ruling also affects Wright's ongoing lawsuits, emphasizing the gravity of his dishonesty in claiming billions in damages and threatening the Bitcoin development community.
- The court's decision is seen as a victory for the open-source community and a step towards curbing legal intimidation tactics used by Wright.
- COPA urges further action against Wright for alleged forgeries, potentially leading to criminal proceedings in the UK for fraud and perjury.
https://apple.news/ACqC8eYQZT9uTk7HZWfG-Pw

2024-03-17 02:34:50

Seattle's Minimum Wage Experiment Disappoints
An ordinance mandating a minimum earnings floor for app-based food delivery drivers in Seattle has led to a sharp decrease in food orders and driver earnings. The law, which went into effect in January 2024, aimed to protect gig workers but has resulted in customers abandoning delivery apps due to increased costs, and consequently, drivers experiencing a significant reduction in pay. Despite the intentions behind the policy, it has adversely affected local businesses, delivery drivers, and vulnerable populations relying on delivery services. Seattle's City Council appears reluctant to revise the legislation despite the negative outcomes.
- The demand for food delivery in Seattle has plummeted, with companies like Uber Eats seeing a 30-percent order reduction and drivers' earnings halving compared to the previous year.
- Additional costs to cover the ordinance, including a proposed 10-cent per-delivery fee set for 2025, predict continued challenges for delivery customers, drivers, and local restaurants.
https://reason.com/2024/03/16/seattle-law-mandating-higher-delivery-driver-pay-is-a-disaster/

2024-03-17 02:33:51

SpaceX's Ambitious Spy Satellite Program
SpaceX is developing a vast network of spy satellites under a secret $1.8 billion contract with the U.S. National Reconnaissance Office (NRO), marking an expansion of the company's engagements within the military and intelligence sectors. This network, engineered by the Starshield division, aims to enhance the U.S.'s surveillance capabilities significantly, contributing to more effective pinpointing of global targets and intelligence gathering. Amid controversies, including Elon Musk's recent clashes with the Biden administration and discussions around Starlink's use in Ukraine, this initiative underlines SpaceX's growing partnership with defense and intelligence agencies, illustrating a shift towards utilizing low-orbit satellite systems for comprehensive earth observation.
- The Starshield network differs from SpaceX's Starlink internet constellation, focusing on high-end national security capabilities that promise near-continuous global coverage and rapid data sharing with U.S. forces and intelligence entities, embodying a critical asset in modern warfare and surveillance strategies.
- The program is set against the backdrop of intensifying space race dynamics, with significant implications for military superiority and secure communications amidst rising concerns over space-enabled threats from adversaries like China and Russia. This initiative not only marks a technological leap but also a strategic maneuver in the evolving landscape of national defense and space exploration.
https://www.reuters.com/technology/space/musks-spacex-is-building-spy-satellite-network-us-intelligence-agency-sources-2024-03-16/

2024-03-16 20:44:36

2024-03-10 21:20:55

Electronic Cattle Tracking Hidden in Omnibus Bill
A provision in the new omnibus bill will allow electronic tracking of all cattle and bison in the United States, with Rep. Thomas Massie raising alarms about the $15 million taxpayer-funded initiative. The directive aims to support the Federal Animal Disease Traceability rule, primarily focusing on electronic identification tags. Critics, including Massie, argue this action exceeds legal boundaries and could be exploited to limit beef production in favor of "climate-friendly" alternatives, and potentially introduce genetically modified vaccines into the food supply.
- Massie and attorney Tom Renz suggest the tracking scheme could have broader implications for food safety and sovereignty, highlighting its potential use in enforcing a green agenda against beef production.
- The controversy sparks debate on legislative practices, with calls for single-item spending bills to avoid hidden agendas, reflecting broader political and social divides.
https://naturalnews.com/2024-03-08-massie-fed-electronic-tracking-cattle-beef-production.html

2024-03-08 04:26:33

Securing the Cyber Frontier: Enhanced Compliance for Cloud Services
The U.S. Department of Commerce proposes new regulations for Infrastructure as a Service (IaaS) providers to mitigate malicious cyber activities. The rules require enhanced customer identification programs, empower the Department to restrict service to certain foreign entities, and demand reporting of AI model training that poses security risks. This move aims to curb cyber threats and ensure the responsible development of technology.
- The regulations introduce stringent identity verification akin to banking sector practices, necessitating significant adjustments by IaaS providers.
- Providers may face hefty penalties for non-compliance, emphasizing the critical role of these measures in national security and the broader technology regulatory landscape.
- Public feedback is encouraged until April 29, 2024, highlighting the collaborative approach to refining this pivotal cybersecurity initiative.
https://www.natlawreview.com/article/us-department-commerce-publishes-proposed-rule-imposing-know-your-customer-and

2024-03-07 17:29:23

Samourai Wallet Embraces Bitcoin Purity with New Update
Samourai Wallet’s latest update, 0.98.87, marks a significant shift towards promoting Bitcoin's native token, BTC, over traditional fiat currencies. This decision to remove fiat currency conversions from the wallet is driven by the observation that referencing BTC in USD terms has led to confusion and a departure from the essence of Bitcoin. Despite the potential inconvenience and risk of losing users, the Samourai team believes it's crucial for users to engage with the Bitcoin economy in its native token. The wallet's interface will now display balances in satoshi units, the smallest bitcoin unit, to encourage thinking in Bitcoin terms. Furthermore, Samourai Wallet's dedication to privacy and user empowerment is underscored by its availability in 12 languages, thanks to the community's effort to provide high-quality, contextually appropriate translations.
- International installs of Samourai Wallet have increased significantly, thanks to high-quality local translations, emphasizing the global demand for privacy-focused Bitcoin services.
- The update also retains fiat conversion within its Sentinel Watch Only app for practical reasons, accommodating the needs of independent merchants and specific user cases.
https://blog.samourai.is/wallet-update-0-98-87-welcome-new-international-users-and-saying-adieu-to-fiat-currency/

2024-03-07 04:50:32

Exploring Bitcoin Covenants: Enhancing Transaction Control
Bitcoin's capability extends to running smart contracts and enforcing complex spending conditions, quite contrary to common perception. Notably, covenants—advanced spending conditions—propose a transformative approach to Bitcoin transaction management, offering a level of control that could safeguard against unauthorized transactions, simplify congestion management, and potentially scale the Lightning Network. Concepts like Check Template Verify (CTV) and CheckTXHashVerify spotlight the technical underpinnings aiming to establish a secure, versatile transaction framework. These innovations pave the way for innovative use cases such as vaults for enhanced security, congestion control mechanisms to navigate transaction fees cleverly, and channel factories to augment the efficiency of the Lightning Network, thereby potentiating Bitcoin's utility beyond a mere currency.
- Covenants could introduce a paradigm shift in Bitcoin security and utility, playing a pivotal role in future transaction management strategies.
- The debate around the adoption and implications of covenants within the Bitcoin ecosystem underscores the community's cautious yet progressive approach to innovation.
https://bitbox.swiss/blog/what-are-bitcoin-covenants/

2024-03-07 04:44:37

This will predict future bitcoin mining sites:
MethaneSAT Launches to Track Global Methane Emissions
A new satellite, MethaneSAT, is set to revolutionize the tracking of global methane emissions by accurately measuring levels across previously unreachable areas and pinpointing major emitters. Developed by the Environmental Defense Fund's subsidiary over six years and launching from California, it aims to increase accountability among the world's largest polluters and contribute to efforts in reducing greenhouse gas emissions. MethaneSAT will orbit the planet 15 times a day, providing valuable data to help adhere to recent global pledges to cut methane emissions significantly by 2030. This initiative represents a crucial step in combating climate change, as methane is a potent greenhouse gas responsible for a significant portion of global warming.
- Methane's impact on climate change is substantial, with its atmospheric concentration more than doubling in the last two centuries, necessitating targeted reduction efforts.
- The satellite's data will be accessible almost in real-time, aiding regulators, companies, and the public in evaluating progress towards international methane reduction commitments.
https://thehill.com/policy/energy-environment/4507232-satellite-methane-pollution-california/

2024-03-07 04:37:44

The Dilemma of Daylight Saving Time
As daylight saving time approaches, health experts and sleep researchers argue against the switch, advocating for the adoption of standard time year-round due to its alignment with human circadian rhythms. Despite legislative efforts to make daylight saving permanent, evidence suggests that the transition disrupts sleep patterns, increases the risk of heart complications, and leads to a spike in accidents and cognitive issues. To mitigate the adverse effects of losing an hour of sleep, experts recommend gradually adjusting bedtime routines and exposure to morning sunlight.
- Daylight saving time is criticized for its negative impact on health and safety, with evidence pointing to an increase in heart attacks, strokes, and accidents following the springtime clock change.
- To combat the adverse effects of the time change, sleep professionals suggest gradually shifting sleep and daily routines in advance and ensuring adequate exposure to early morning light.
https://www.axios.com/2024/03/07/daylight-saving-time-when-lose-hour-health

2024-03-05 03:31:42

San Francisco Challenges Homelessness Ruling
San Francisco has appealed to the U.S. Supreme Court to overturn a lower court's decision that restricts the city's ability to clear homeless encampments. The city submitted an amicus brief against the Ninth Circuit Court of Appeals ruling in Johnson v. Grants Pass, which protects the rights of individuals to sleep outside when no shelter is available. This legal challenge emerges as San Francisco, like many U.S. cities, grapples with a significant homelessness crisis, striving to blend compassionate social services with maintaining public spaces for the community's use.
- The Supreme Court's upcoming review of the case could significantly impact homelessness policies nationwide.
- San Francisco's legal action reflects its struggle to manage public health and safety while addressing the needs of its homeless population.
https://sfstandard.com/2024/03/01/san-francisco-urges-supreme-court-to-overturn-homelessness-ruling/

2024-03-04 23:02:52

Simple Steps to Secure Bitcoin Self-Custody
Securing your Bitcoin investment requires simple, thoughtful steps to prevent loss through accidents or security breaches. This includes the use of hardware wallets like COLDCARD for secure storage, creating metal backups with a SEEDPLATE for durability against elements, and spreading encrypted backups in different locations for added security. Passphrases enhance security but require careful backup management. Testing your setup, choosing a compatible software wallet, and continuous learning are fundamental to maintaining and improving your Bitcoin self-custody arrangements.
- Encrypted backups and passphrase security are crucial, but simplicity in your Bitcoin security setup can help avoid costly mistakes.
- Continual education through podcasts and guides is essential for adapting to new security measures and technologies in the evolving landscape of cryptocurrency.
https://bitcoinsecurity.guide/

2024-03-04 23:01:58

Amazon Secures Data Center Campus from Talen Energy
Amazon Web Services (AWS) has expanded its infrastructure with the acquisition of Cumulus Data, a 960MW data center campus at a nuclear power station in Pennsylvania, from Talen Energy for $650 million. This move underlines Amazon's commitment to boosting its cloud services capacity with environmentally considerate power sources, as the data center will draw clean, carbon-free energy from the neighboring Susquehanna Steam Electric Station. The deal also includes a 10-year Power Purchase Agreement (PPA) for AWS to receive energy from the site, showcasing a strategic blend of digital infrastructure expansion and sustainable energy utilization.
- The acquisition underpins Amazon's strategic investments in sustainable and scalable cloud infrastructure, leveraging nuclear power as a green energy source.
- This deal is part of broader trends where tech giants are increasingly investing in environmentally friendly solutions for their energy-intensive data centers.
https://www.datacenterdynamics.com/en/news/aws-acquires-talens-nuclear-data-center-campus-in-pennsylvania/

2024-03-04 22:58:25

MicroStrategy Plans to Purchase More Bitcoin
MicroStrategy Incorporated has announced its intention to issue $600 million in convertible senior notes, with an additional $90 million option, to finance further bitcoin acquisitions and general corporate activities. These notes, due in 2030, illustrate the company's ongoing commitment to integrating bitcoin into its treasury reserve strategy. The sale, aimed at qualified institutional buyers, reflects the company's broader vision of leveraging financial markets, advocacy, and technology innovation to support and develop the bitcoin network.
- This strategic move underscores MicroStrategy’s position as a pioneer in adopting bitcoin as a primary treasury reserve asset.
- The offering highlights the company's innovative approach to funding its bitcoin acquisition strategy, further blending the worlds of traditional corporate finance and cryptocurrency investment.
https://www.microstrategy.com/press/microstrategy-announces-proposed-private-offering-of-600-million-of-convertible-senior-notes_03-04-2024

2024-03-01 09:29:32

State Bills and the Illusion of Bitcoin Protection
State-level legislative efforts to protect Bitcoin usage rights, such as mining and self-custody, confront an insurmountable obstacle: federal supremacy. Despite about a dozen states proposing bills to safeguard Bitcoin activities, the Supremacy Clause of the U.S. Constitution ensures that any federal policy conflicting with state laws renders the latter ineffective. These state bills, rather than offering genuine protection, might inadvertently heighten the risk of stringent federal regulations, fueling a potentially more hostile environment for Bitcoin due to perceived partisanship.
- State efforts to make Bitcoin a legal tender have previously failed due to their contradiction with the Constitution, highlighting the ineffectiveness of current bills against federal opposition.
- The symbolic nature of pro-Bitcoin state bills risks categorizing Bitcoin as a partisan issue, potentially inviting stricter regulations from opponents and undermining the principle of Bitcoin as a non-partisan technology.
https://x.com/davidzell_/status/1763345682922914131

2024-02-26 22:33:48

Texas Bitcoin Miners Win Temporary Reprieve
A federal judge has temporarily blocked the Department of Energy's initiative to gather electricity consumption data from cryptocurrency miners, marking a victory for Texas Bitcoin mining advocates. This decision came in response to a lawsuit suggesting that the emergency data collection procedure bypassed public notice and comment, labeling it as an unwarranted attack on the sector. The crypto mining industry, criticized for its substantial energy consumption, has defended its practices by highlighting their capacity to enhance grid stability by voluntarily reducing operations during peak demand periods.
- Cryptocurrency mining operations, especially prominent in Texas, have been under scrutiny for their high electricity usage and potential impact on grid stability and fossil fuel dependency.
- The Texas Blockchain Council and Riot Platforms are pushing for a permanent injunction against the Department of Energy's data collection efforts, arguing it could cause competitive harm and infringes on lawful data gathering processes.
https://www.houstonchronicle.com/business/energy/article/texas-bitcoin-council-doe-suit-18684690.php

2024-02-26 02:30:30

Bitcoin Miners Sue Over Energy Survey
The Texas Blockchain Council is suing the U.S. Department of Energy's Energy Information Administration over a mandatory survey on Bitcoin miners' energy use, branding it illegal and an attack on private business. The survey aims to assess the significant power consumption of the industry, which can account for up to 2.3% of the nation's total demand. Bitcoin mining has flourished in states like Texas and Georgia, especially after China's ban on the practice in 2021.
- Despite the industry's growth and its substantial electricity use, the EIA has agreed not to enforce the survey's completion and to keep the collected data confidential.
- The lawsuit reflects the tension between the burgeoning Bitcoin mining sector and efforts to regulate its impact on power grids and energy consumption.
https://www.dallasnews.com/business/2024/02/25/texas-bitcoin-miners-sue-energy-department-over-data-usage-survey/

2024-02-19 02:17:32

This couldn’t be more true, Coinbase is evil and has been anti-Bitcoin for years! #note100a…tf7r

2024-02-12 02:05:39

Nice Satoshi shirt @npub1sg6…f63m

2024-02-09 21:37:41

Hawaii's Turn Towards Freedom
After a prolonged period of regulatory resistance, Hawaii has suddenly changed its stance on Bitcoin, no longer seeking to regulate it. This shift comes after the state previously made it difficult for local residents to engage with digital currencies due to stringent money exchange classifications. The Digital Currency Innovation Lab, established in 2020 to explore regulated exchange operations within the state, reported significant interest among Hawaii residents despite the market's volatility. However, with the recent recovery of cryptocurrency values and the SEC's approval of a bitcoin spot ETF, Governor Josh Green's office announced the cessation of the DCIL and the decision to leave crypto unregulated at the state level. This move opens the door for Hawaii residents to freely buy, sell, or hold digital currencies within federal laws and financial regulations, awaiting the return of major exchanges like Coinbase.
- Hawaii's regulation saga ends with the state choosing not to regulate digital currencies, marking a significant shift in policy.
- The decision follows substantial local interest in digital currencies and the SEC's recent endorsement of a bitcoin spot ETF, suggesting a growing acceptance of Bitcoin as a legitimate financial market.
https://www.staradvertiser.com/2024/02/07/hawaii-news/tech-view/tech-view-hawaii-quietly-gives-up-on-cryptocurrency-rules/

2024-02-04 18:32:13

Government Eyes on Bitcoin Mining
The Biden Administration announced an emergency data collection initiative focused on bitcoin mining operations in the US, citing concerns about electricity usage and grid stability. This “Proposed Emergency Survey - Cryptocurrency Mining Facilities” by the US Energy Information Administration requests detailed information from miners, sparking privacy and regulatory concerns. Critics argue this could lead to unfair targeting and regulation, comparing it unfavorably with practices in countries like Venezuela, and stress the overall positive impact of bitcoin mining on the energy grid. The industry's response could shape the future of bitcoin mining in the US.
- The survey demands extensive details from miners, including geographical coordinates and energy consumption, raising alarms over privacy and overreach.
- Comparisons are drawn to Venezuela's approach to bitcoin mining, with fears the US could adopt similarly aggressive tactics.
https://tftc.io/eia-bitcoin-mining-survey/

2024-02-04 18:30:31

Bitcoin Node Update Patterns: A Comprehensive Analysis
This article delves into the patterns of how Bitcoin node operators update their nodes over an 8-year span, highlighting the responsiveness and engagement of operators with new software releases. The author's analysis based on user agent counts for reachable nodes reveals varying update frequencies, thus affecting the overall security and efficiency of the Bitcoin network. The Bitcoin Core protocol sees two major and numerous minor releases annually, with a recommendation to avoid using releases older than 18 months due to potential unpatched vulnerabilities. Interestingly, the trend shows a deceleration in update frequency over recent years, possibly due to an influx of less technical operators using user-friendly node hardware/software, including those running Lightning Network nodes.
Furthermore, the analysis demonstrates a lengthening timeframe for node operators to transition from older software versions, evolving from one to potentially three years for 95% of operators to update. Recommendations for enhancing operator awareness about updates include promoting the Bitcoin Core Announcement List during installation, exploring alternative notification methods for outdated software, and providing more comprehensive setup and maintenance guidance.
- The growing lag in node updates and increasing prevalence of outdated software pose systemic risks to the Bitcoin network's security model.
- Recommendations aim to improve update awareness amongst node operators, especially as Bitcoin evolves in an adversarially challenging environment.
https://blog.lopp.net/when-do-bitcoin-node-operators-upgrade/

2024-02-04 17:58:12

- reply

I had the same problems with Umbrel and still haven’t regretted switching to Start9

2024-02-02 19:42:29

Cloudflare Navigates Atlassian Server Breach by Suspected Nation-State Actor
Cloudflare announced a breach of its internal Atlassian server by a suspected nation-state actor, who accessed the company's Confluence wiki, Jira bug database, and Bitbucket source code management system in November. The attackers utilized stolen credentials from a prior Okta breach to gain access, but Cloudflare's rapid response prevented customer data loss and further system compromise. Remediation efforts included credential rotations, system reimages, and forensics investigations, concluding on January 5th, with ongoing software hardening measures.
- No Cloudflare customer data or systems were impacted by the breach.
- The attackers sought detailed intelligence on Cloudflare's network architecture, security, and management, highlighting the importance of continuous vigilance and robust security practices in defending against sophisticated cyber threats.
https://www.bleepingcomputer.com/news/security/cloudflare-hacked-using-auth-tokens-stolen-in-okta-attack/

2024-01-28 00:22:32

NSA Buys Americans' Web Browsing Data Without Warrants
The outgoing NSA director, Gen. Paul Nakasone, revealed in a letter to Sen. Ron Wyden that the NSA purchases vast amounts of commercially available web browsing data on Americans for various purposes, including foreign intelligence and cybersecurity, without obtaining a warrant. This practice includes acquiring non-content internet records, or netflow data, which can reveal sensitive information about Americans' online activities. The legality of this data collection is under scrutiny, especially in light of recent FTC enforcement actions against data brokers for privacy violations.
- U.S. intelligence and other government agencies have been buying data from private brokers, raising questions about the legality and the ethical implications of these practices.
- The FTC has taken actions against data brokers for selling sensitive location data without user consent, casting doubts on the legal grounds for government agencies' acquisition of commercially available information about Americans.
https://techcrunch.com/2024/01/26/national-security-agency-americans-internet-browsing-records-warrantless/

2024-01-27 02:16:12

Understanding the Corporate Transparency Act
The Corporate Transparency Act (CTA) mandates significant disclosure requirements for corporations, limited liability companies, and other business entities in the U.S. Enacted by Congress in 2021, the CTA aims to combat illicit activities by requiring these companies to report their beneficial owners to the Financial Crimes Enforcement Network (FinCEN). The act targets financial crimes like corruption, drug trafficking, and terrorism by unmasking the anonymity of shell companies. Exemptions apply to publicly traded companies and large firms that meet certain criteria. Failure to comply can lead to severe penalties, including heavy fines and imprisonment. Business owners and directors need to begin compliance in 2024.
- The CTA requires the disclosure of anyone who owns 25% or more of a company or controls its decision-making processes.
- Significant exemptions to the CTA include large companies and regulated entities like banks and insurance companies.
https://www.kanowskylaw.com/articles/2024/january/beware-the-corporation-transparency-act/

2024-01-25 00:58:10

Bitcoin Mixing Services Under Fire from U.S. Treasury
The U.S. Department of the Treasury and FinCEN have proposed rules that mark bitcoin mixing as a money laundering concern, potentially outlawing the practice and infringing on individual financial privacy. In response, a legal team assembled by attorney Rafael Yakobi of The Crypto Lawyers acted on behalf of Samourai Wallet, outlining grave concerns regarding the potential overreach and impact on legitimate cybersecurity measures and privacy.
- The proposed rules could erroneously label standard security practices as suspicious and conflate them with unlawful activities, potentially violating individuals' rights and hindering their ability to protect their assets.
- The response highlights an inconsistent stance within Treasury departments on how to categorize bitcoin mixing, which may indicate an arbitrary approach to regulation. The legal team argues that existing tools and targeted enforcement against specific bad actors could more effectively address concerns without overburdening legitimate CVC users and businesses.
https://bitcoinmagazine.com/legal/samourai-wallet-response-to-fincen-proposed-rules-for-bitcoin-mixing

2024-01-24 21:54:44

Craig Wright Seeks Settlement with COPA
Craig Wright, who claims to be Bitcoin's creator Satoshi Nakamoto, has offered a settlement to the Crypto Open Patent Alliance (COPA) to prevent a court trial over Bitcoin's intellectual property rights. He's been ordered by a UK judge to present proof of his claim by providing documents dating back to 2007, asserting his rights in court but clarifying that his litigation focus isn't on revealing his identity. Wright is offering to waive certain rights and is willing to provide an irrevocable license for Bitcoin-related technologies to enable fair competition.
- Wright's settlement includes the cessation of all legal claims and an encouragement for parties to donate legal funds to charity, stipulating no financial gains from the case for himself.
- The offer dictates no further creation, copying, or forking of new Bitcoin databases using the BTC, BCH, ABC, or BSV databases, aiming to end the dispute and allow a focus on Bitcoin development.
https://decrypt.co/214116/self-described-bitcoin-inventor-craig-wright-offers-to-settle-ip-case

2024-01-24 21:46:25

Stripe Halts Services for Bitcoin Mining Hardware Seller Bitsaga
Stripe, a prominent online payment processor, has ended its partnership with Bitsaga, a Bitcoin consultancy and payment company, due to Bitsaga's sale of Bitcoin mining hardware, which is against Stripe's terms of service. The exact details and motivations for Stripe's decision remain unclear, and the company has yet to comment publicly on the matter.
- Bitsaga's stance is that the sale of Bitcoin mining hardware is part of their commitment to supporting what they deem as a fair and open monetary system, considering Stripe's move to be discriminatory censorship.
- Stripe's customer base is broad and international, but it has historically kept a distance from businesses related to cryptocurrency mining.
https://coinchapter.com/stripe-bitsaga-over-bitcoin-mining-sales/

2024-01-22 23:42:47

Coin Center Challenges FinCEN's Broad Rulemaking on CVC Mixing
Coin Center, a nonprofit focused on Bitcoin policy issues, has submitted a comment to FinCEN regarding the proposed rule to label certain Bitcoin transactions, specifically CVC mixing, as a money laundering concern. Coin Center argues that this rulemaking, the first of its kind in 23 years since FinCEN was granted 311 powers, is unprecedentedly broad, could wrongfully target legitimate transaction practices meant for privacy, and does not differentiate between domestic and foreign transactions, overstepping statutory authority and potentially constitutional rights.
- The proposed rule fails to consider the potential impact on individuals using CVC mixing for legitimate privacy purposes, and lacks an adequate basis for assuming such impact will be minimal.
- The rulemaking exceeds the PATRIOT Act's limitations by not being confined to foreign transactions, as it should be per statutory language, risking the inclusion of purely domestic activities and imposing undue consequences on innocent Americans.
https://www.coincenter.org/comments-to-the-financial-crimes-enforcement-network-on-proposal-of-special-measure-regarding-convertible-virtual-currency-mixing-as-a-class-of-transactions-of-primary-money-laundering-conce/

2024-01-22 17:52:18

U.S. Public Debt Reaches New Heights
The U.S. has hit an unprecedented level of public debt, exceeding $34 trillion, raising concerns about the country's financial stability and the future solvency of vital entitlement programs.
- Public debt is expanding in major global economies, not just the U.S.
- Without a clear solution, the U.S. faces a looming debt ceiling debate in the near future.
https://www.axios.com/2024/01/22/us-national-debt-gdp

2024-01-17 01:13:04

- reply

Tor relays by default

2024-01-16 19:33:11

JPMorgan's Whistleblower Obstacle Settlement
JPMorgan Chase has agreed to pay $18 million for settling SEC charges of impeding whistleblowing by requiring clients to sign confidentiality agreements that restricted their ability to report legal violations.
- The SEC identified at least 362 cases where customers, in order to receive settlements, had to forego their rights to voluntarily report to the agency.
- JPMorgan Chase has committed to halting practices that prevent individuals from contacting the SEC with evidence of wrongdoing, although the bank neither admitted nor denied the findings.
https://www.theinformation.com/briefings/jpmorgan-fined-18-million-for-whistleblower-breaches

2024-01-15 23:45:32

I still haven’t forgotten that Coinbase tried to strong arm bigger Bitcoin blocks into the protocol.

2024-01-15 23:43:35

Coinbase Defends Against SEC Lawsuit Amidst Industry Woes
Coinbase, the cryptocurrency exchange co-founded by Brian Armstrong, remains one of the major players in the digital asset industry, even after many high-profile competitors collapsed or faced legal issues. Despite continued expansion and a push for diversification, Coinbase is wrestling with profitability challenges and regulatory pressures. Armstrong has actively lobbied for clearer cryptocurrency regulation in the U.S. and is awaiting a federal court judge's decision on whether a high-stakes lawsuit filed by the Securities and Exchange Commission (SEC) against Coinbase will proceed. The SEC alleges that the exchange listed unregistered securities, which Coinbase disputes, emphasizing the need for clear crypto regulations.
- Coinbase has been unprofitable for multiple quarters and is looking to expand beyond reliance on crypto trading revenue, including their role as custodians in newly launched bitcoin ETFs.
- The company faces a pivotal moment with the SEC lawsuit, which could impact its business operations significantly and is part of a broader conflict over how crypto assets are regulated in the U.S.
https://archive.is/20240114111532/https://www.wsj.com/finance/currencies/coinbase-co-founder-brian-armstrong-ce1617ce

2024-01-14 02:55:36

The Illusion of Transparency: Body Cameras Fail to Hold Police Accountable
While body cameras were introduced to offer transparency and accountability in policing, law enforcement agencies routinely restrict access to footage, particularly in incidents involving officer shootings. Despite significant taxpayer investment in body-worn cameras, police departments across the U.S., including the NYPD, frequently choose not to release videos, thwarting the tool's intended purpose.
- The 2017 shooting of Miguel Richards by NYPD officers, the first captured on body cameras in New York, highlighted the gap between promise and practice. The limited footage initially provided by police omitted crucial moments and withheld evidence contrary to official narratives.
- Further undermining accountability, officers involved in such shootings have faced minimal consequences, while New York's Civilian Complaint Review Board struggles to access camera footage for independent investigations, hampered by police control over the recordings.
- Despite cases demonstrating the potential for body cameras to expose misconduct, such as the wrongful shootings of civilians, major reforms or interventions from city, state, and federal officials are required to ensure body cameras serve public interests rather than police self-protection.
https://www.propublica.org/article/how-police-undermined-promise-body-cameras

2024-01-12 19:55:58

OpenAI Softens Stance on Military Use of Its AI Technology
OpenAI has revised its usage policy, removing explicit prohibitions on military and warfare applications of its AI tools, such as ChatGPT. The new policy language is now less specific, focusing on preventing harm rather than explicitly banning military usage.
- The change raises questions about OpenAI's approach to enforcement and its stance on assisting military operations indirectly through non-weapon applications.
- The rewrite of the usage policy also indicates a shift towards legal compliance over explicit safety measures, prompting concerns over the potential misuse of AI in military settings, given known issues such as bias and inaccuracy in large language models.
https://theintercept.com/2024/01/12/open-ai-military-ban-chatgpt/

2024-01-11 19:50:03

Persistent Inflation Challenges
Despite early signs of subsiding crisis-level inflation, December's report indicates continuing challenges with higher-than-desirable price increases in key economic areas, risking the delay in anticipated interest rate cuts and affecting hopes for reduced inflation before 2024.
- The Consumer Price Index ascended by 0.3% in December, a slight increase from November, with a 3.4% annual rise, signaling a steady pace of inflation particularly within the services sector.
- Shelter costs, a significant factor in the CPI rise, displayed sturdiness against predictions of decline, contributing to the stubborn core inflation rates that remain above the Federal Reserve's target.
https://www.axios.com/2024/01/11/sticky-inflation-problem

2024-01-09 23:55:39

SEC Twitter Account Hacked with False Bitcoin ETF Approval
The U.S. Securities and Exchange Commission (SEC) confirmed that its X account on Twitter was hacked, leading to the unauthorized release of a fake announcement about the approval of spot bitcoin ETFs.
- The misleading tweet caused brief confusion and a spike in Bitcoin's price, which corrected shortly after the truth surfaced.
- The SEC reaffirmed through its Chair, Gary Gensler, that no such product approvals have been made, emphasizing the importance of accurate information dissemination.
https://techcrunch.com/2024/01/09/sec-account-hacked-sharing-unauthorized-tweet-regarding-bitcoin-spot-etf

2024-01-01 08:58:13

Happy New Year 🎆🎊🎈🥳

2023-12-29 22:31:40

Bitcoin Enthusiast Challenges Ordinals Critics
Taproot Wizards contributor Rijndael has developed a script allowing Bitcoin node operators to reject blocks containing Bitcoin Ordinals inscriptions, challenging critics to take action against what some see as unwelcome clutter on the Bitcoin blockchain. Yet, there's skepticism regarding the script's adoption due to the potential self-impairing consequences for the nodes that use it.
- The controversial move questions the commitment of those who have criticized Ordinals but may result in nodes 'bricking' themselves, as described by Glassnode analyst James Check.
- Resurfaced debates over Ordinals involve concerns about mempool congestion and implications for Lightning Network users, with potential solutions possibly arriving in the next major Bitcoin Core update.
https://cointelegraph.com/news/taproot-wizards-launches-software-reject-ordinals-bitcoin

2023-12-26 19:59:18

Bitcoin Mining Lawsuit in Texas Reveals Chinese Investment
The small town of Channing, Texas, is in the spotlight due to a lawsuit against a local bitcoin mine, BitRush, over allegations of unpaid wages to workers and unpaid services by Crypton Mining Solutions. The case has revealed extensive investment by Chinese investors in U.S. cryptocurrency mines, exploiting Texas's affordable energy and crypto-friendly policies to generate and transfer large sums of money with minimal U.S. oversight.
- Texas has become a significant destination for Chinese-funded cryptocurrency mining operations due to favorable conditions for crypto mining and potential regulatory blind spots.
- Concerns are heightening over national security as the Pentagon monitors a Wyoming bitcoin operation with Chinese ties, reflecting the growing influence of Chinese investment in the U.S. cryptocurrency mining sector.
https://www.businessinsider.com/bitcoin-mine-texas-lawsuit-links-to-chinese-investors-2023-12

2023-12-26 19:57:46

Bitcoin's Ongoing Debates: Ordinals and the Future of Transactions
The Bitcoin community faces a new divide over the use of ordinals and BRC-20 tokens, as the network grapples with the evolving purpose of transactions. These new uses, considered by some as 'spam,' challenge traditional views of Bitcoin's intent as a financial network. The pressure on block size and transaction fees intensify, leading to a clash between financial and non-financial utilization of the Bitcoin blockchain.
- As Bitcoin's mining rewards diminish over time, transaction fees become crucial for miner compensation, with current high fees driven by the demand to record ordinals.
- Critics of ordinals argue that Bitcoin should maintain low transaction fees to compete with central bank digital currencies, while supporters believe ordinals are key to ensuring Bitcoin's future security budget.
- Amidst contention, some mining pools offer a choice between blocks that support ordinals and BRC-20 tokens and those with a minimal non-financial transaction focus, reflecting the community's mixed sentiments.
https://www.forbes.com/sites/digital-assets/2023/12/26/the-debate-on-bitcoin-ordinals-is-a-fight-over-bitcoins-future/

2023-12-24 22:41:57

Bitcoin Price Prospects Amid ETF Expectations
Bitcoin's price has surged to highs not seen since early 2022, fueled by anticipation of a Biden bailout and a potential BlackRock-managed bitcoin spot ETF, despite concerns from trader Arthur Hayes that such success could jeopardize the Bitcoin’s future.
- BlackRock's involvement has raised speculations about a massive influx of Wall Street capital into bitcoin, with the SEC rumored to be on the verge of approving a wave of bitcoin spot ETF applications.
- Arthur Hayes warns that if asset managers corner the bitcoin market, it could lead to the network's collapse by making mining unviable, but he also suggests the fall could give rise to an alternative monetary network.
https://www.forbes.com/sites/digital-assets/2023/12/24/blackrock-will-completely-destroy-bitcoin-shock-price-warning-as-huge-spot-etf-update-suddenly-revealed/

2023-12-24 07:32:55

El Salvador's Bitcoin Citizenship Initiative
El Salvador's Congress, dominated by President Nayib Bukele's New Ideas party, has passed a law allowing expedited citizenship for foreign bitcoin donors. The law aims to attract support for social and economic development projects by waiving the standard naturalization residency requirements in exchange for bitcoin contributions.
- Despite the lack of a minimum donation stipulation, the move comes as El Salvador continues grappling with economic challenges and seeks a new financing program with the International Monetary Fund (IMF).
- This initiative follows the controversial adoption of bitcoin as legal tender in 2021 and President Bukele's re-election bid, which contradicts the country's constitutional ban on consecutive presidential terms.
https://www.reuters.com/world/americas/el-salvador-offers-citizenship-foreign-bitcoin-investors-2023-12-21/

2023-12-24 05:23:04

Bitcoin Price Surge Ahead of Halving
Bitcoin has experienced significant price increase in 2023, propelled by speculation around upcoming changes in 2024, including a historical bitcoin halving. The excitement is partly due to BlackRock's interest in a bitcoin ETF, boosting market confidence.
- Nigeria has reversed its 2021 ban on bank engagements with Bitcoin exchanges, recognizing the need to regulate Bitcoin services and reflecting the country's high rate of Bitcoin adoption.
- Despite previous restrictions, Nigeria has strong demand as residents seek financial stability amid currency devaluation and economic challenges.
https://www.forbes.com/sites/digital-assets/2023/12/23/big-news-forget-the-spot-bitcoin-etf-a-huge-unexpected-bank-flip-could-be-about-to-hit-the-price-of-bitcoin-ethereum-xrp-solana-and-crypto/

2023-12-23 21:03:18

San Francisco's Lavish APEC Summit Party
San Francisco's extravagant celebration for President Biden during the APEC summit cost nearly $8 million, featuring a performance by Gwen Stefani and a grand fireworks display. Funded by a nonprofit backed by private donations, the city showcased its hospitality to global leaders and the Democratic elite, amid criticisms of overspending.
- The event's cost breakdown included $1.1 million for Stefani's performance and significant expenditures on production, labor, venue rental, and entertainment.
- Critics argue the funds could have supported other initiatives, such as affordable housing, highlighting the tension between grand diplomatic gestures and local needs.
https://sfstandard.com/2023/12/22/gwen-stefani-cost-san-francisco-million-biden-apec-party/

2023-12-23 06:07:05

Satoshi Nakamoto Identity Trial Postponed
The lawsuit involving Craig Wright, who claims to be Bitcoin's creator Satoshi Nakamoto, and Bitcoin Core developers has been delayed to February due to new evidence submission. Wright, suing for copyright infringement, has provided additional documents reportedly found on USB drives, which the developers criticize as potentially fabricated.
- The provided documents appeared after Bitcoin developers presented 50 pieces of counter-evidence against Wright's earlier submissions.
- In preparation for the trial, the court has ordered Wright to make additional security payments to cover legal costs and has addressed his ASD-related trial accommodations.
https://cointelegraph.com/news/judge-orders-craig-wright-pay-over-1-million-accepts-new-evidence-satoshi-identity

2023-12-23 00:28:18

Epstein's Alleged Co-Conspirator List Promises Tech Sector Repercussions
A federal judge's decision to unseal a list of more than 170 names associated with Jeffrey Epstein, among them alleged co-conspirators and victims, has sparked intense speculation, especially concerning the tech industry's elite. High-profile tech figures like Elon Musk, Bill Gates, and Mark Zuckerberg have had varying degrees of association with the disgraced financier. Gates's ties to Epstein have been heavily scrutinized and reportedly contributed to his divorce. The list, set to become public next year, could implicate several major tech moguls, signaling potential fallout for Silicon Valley's most powerful.
- Epstein's influence extended into Silicon Valley's high society, where he forged connections with technology leaders, and some of his relationships, such as with Bill Gates, have already faced public scrutiny.
- Although the exact contents of the list are unknown until its release, the inclusion of Silicon Valley figures could have significant implications for their reputations and the tech industry at large.
https://futurism.com/big-tech-epstein-list-unsealed

2023-12-23 00:26:09

SEED Program Boosts African Bitcoin Miners
The Green Africa Mining Alliance (GAMA) has launched its Seed Program to support emerging African bitcoin miners with equipment and resources, targeting those who face obstacles such as lack of expertise, regulatory knowledge, and equipment acquisition.
- The program offers selected miners with five ASICs at discounted prices, with the potential to receive additional ASICs after proving their hash rate.
- GAMA is fostering a community through events like the AfroBitcoin Conference and Africa Bitcoin Mining Summit to encourage growth and collaboration in Africa's bitcoin mining sector.
- With initiatives like the SEED Program and the establishment of mining pools, Africa's bitcoin mining industry is poised for significant expansion, aiming to increase its global hash rate contribution beyond the current 1%.
https://www.forbes.com/sites/digital-assets/2023/12/22/gama-launch-bitcoin-mining-seed-program-to-help-new-african-miners/

2023-12-23 00:21:02

Mining The Future: Bitcoin's Halvening Battle
The impending Bitcoin halving poses significant challenges for miners, focusing attention on energy costs as the pivotal factor for survival. Bitcoin Magazine outlines the various scales of mining operations and their profitability across different energy rate categories in the U.S., emphasizing the strategic importance of geographical location. With the halving set to possibly cut mining revenues in half, miners must optimize operations and engage in 'jurisdictional arbitrage' to find affordable energy and ensure profitability.
- In the face of the halving, industrial-scale miners in 40 states could remain profitable due to lower negotiated energy rates, while residential and commercial miners face a starker outlook.
- The article stresses that despite the potential for unprofitability, strategic location and energy cost management will be key for mining operations to endure the challenges and maintain success in the competitive environment.
https://bitcoinmagazine.com/markets/hash-recon-

2023-12-23 00:19:42

The Goxfather: Jon M. Chu Tackles Bitcoin Exchange Scandal
Jon M. Chu is set to direct a biopic titled The Goxfather, featuring the story of Mark Karpeles, the entrepreneur who ran the major Bitcoin exchange Mt. Gox before it dramatically collapsed.
- The movie will explore the rise and fall of Mt. Gox, which once was the world's largest Bitcoin exchange, until a massive hack led to a loss of $500 million in bitcoins and Karpeles's legal battles.
- Acclaimed for directing Crazy Rich Asians, Jon M. Chu's attachment to The Goxfather suggests it will provide a compelling narrative of one of cryptocurrency's most notorious scandals.
https://geektyrant.com/news/jon-m-chu-developing-bitcoin-inspired-biopic-the-goxfather

2023-12-20 20:37:04

The Faketoshi Controversy: Craig Wright's Questionable Claim to Bitcoin's Creation
Craig Wright, an Australian computer scientist, has repeatedly claimed to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin. However, investigations and analyses consistently debunk his assertions. Wright fails to provide compelling evidence, such as signing a known Satoshi Bitcoin address or moving any known Satoshi bitcoins. Instead, several forgeries and fraudulent documents have been attributed to Wright's efforts to support his claims.
- Numerous experts, early Bitcoin contributors, and industry observers do not acknowledge Wright as Satoshi, highlighting his technical inadequacies and inconsistencies with the real Satoshi's known traits and capabilities.
- Wright's involvement in various lawsuits and spurious claims has intensified skepticism about his identity as Nakamoto, with even judges noting the implausibility of his claim.
- Yearly developments since Wright's initial claim in 2014 have only deepened the controversy, often marked by self-contradictory statements, debunked forgeries, and a lack of substantial evidence supporting his assertions as Satoshi.
https://hackernoon.com/craig-wright-is-not-satoshi-nakamoto

2023-12-20 20:34:56

Braidpool: A Potential Game-Changer for Decentralized Mining
Kulpreet Singh has received a grant to advance Braidpool, a fully decentralized mining pool protocol designed to enhance the decentralization of the mining ecosystem. Unlike centralized mining pools, Braidpool facilitates each individual miner to run their own node, construct their own block templates, and implements a blockchain of "weak blocks" to track workers' contributions. To distribute rewards, Braidpool uses a non-custodial, multisig threshold model, allowing miners to cooperatively manage payouts. However, the protocol faces challenges in bootstrapping without a central company to absorb initial instabilities.
- Braidpool aims to address centralization issues in mining without reliance on a central entity, in contrast to other pools like Ocean, which still maintain some central functions.
- The protocol suggests financial instruments to hedge against the bootstrapping risk, which may encourage participation from miners and market makers.
https://bitcoinmagazine.com/technical/braidpool-a-second-competitor-in-decentralizing-mining

2023-12-12 21:45:29

Coin Cloud Cybersecurity Breach Mystery
Bitcoin ATM company Coin Cloud suffered an alleged data breach, with hackers claiming to have stolen personal information and photos from customers. Despite an investigation, the details of the breach, including timing and perpetrators, remain unclear.
- Unknown hackers allegedly accessed data from 300,000 customers, including sensitive personal information.
- Coin Cloud experienced multiple hacks in the past, and the breach may involve previously stolen data amidst inadequate cybersecurity measures.
https://apple.news/A1rmkCsBuRk6Q1u15m6YRsQ

2023-12-11 22:07:32

Environmental Impact of Euro Banknotes
Using euro banknotes for a year has a minimal carbon footprint, roughly equivalent to an 8 km car journey or 0.01% of an average person's annual carbon consumption, as per a study from European financial institutions.
- The study takes a comprehensive look at the life cycle of euro banknotes, considering stages from production to disposal, identifying ATM usage and transportation as major contributors to the environmental impact.
- Efforts have been made since 2004 to reduce this footprint, including the use of sustainable materials and improved energy efficiency in ATMs, achieving a 35% reduction in ATM-related environmental impact.
https://www.finextra.com/newsarticle/43416/how-sustainable-is-payment-by-cash

2023-12-11 22:02:29

Tether weakens Ecosystem with Wallet-Freezing Policy
Tether introduces a wallet-freezing policy targeting sanctioned individuals, diminishing its security. Aligning with global regulatory standards, the company now freezes wallets listed on the OFAC SDN List, ensuring the responsible use of Tether tokens and preventing misuse.
- The policy goes beyond Tether’s platform, affecting secondary market transactions to deter illicit activities.
- Paolo Ardoino, CEO of Tether, emphasizes the move as part of their effort to foster a safer and compliant stablecoin ecosystem.
https://tether.to/en/tether-introduces-new-policy-to-strengthen-ecosystem-security/

2023-12-11 21:52:18

Bipartisan Support for Digital Asset Anti-Money Laundering Act Grows
Five new senators have joined as cosponsors of the Digital Asset Anti-Money Laundering Act, led by Elizabeth Warren, to enhance regulations on crypto assets for preventing illicit activities.
- The act aims to extend anti-money laundering and counter-terrorism financing frameworks to the digital asset ecosystem, closing loopholes and increasing compliance.
- The bipartisan support includes members of the Senate Banking Committee, signaling growing concern over the use of cryptocurrencies in money laundering, ransomware attacks, and other financial crimes.
https://www.warren.senate.gov/newsroom/press-releases/warren-expands-coalition-of-banking-committee-support-for-bill-cracking-down-on-cryptos-use-in-money-laundering-drug-trafficking-sanctions-evasion

2023-12-11 21:49:41

LogoFAIL: Universal Firmware Exploit Threatens Windows and Linux Systems
A new firmware attack named LogoFAIL has been discovered, targeting computers running Windows or Linux on UEFI firmware by IBVs such as AMI, Insyde, and Phoenix. This vulnerability allows attackers to rewrite the boot-up logo, bypassing advanced security measures and potentially installing undetectable bootkits.
- LogoFAIL executes during the DXE phase of the system boot, impacting platforms with Intel, AMD, or ARM processors.
- While Macs and certain OEM PCs have protection against this exploit, many systems are at risk and require UEFI security patches from their motherboard manufacturers or OEMs.
https://www.tomshardware.com/pc-components/motherboards/logofail-exploit-bypasses-hardware-and-software-security-measures-and-is-nearly-impossible-to-detect-or-remove

2023-12-09 02:09:18

Relational Contracts & Trust Networks via Nostr
Though bitcoin operates without a need for trust, real-world economic activities often still require it. The article explores how Relational Contract theory can establish and quantify trust through Nostr, highlighting that economic transactions can maintain stability without third-party escrow or the threat of violence. The concept is that trust is built through repeated successful exchanges where both parties recognize mutual benefits, leading to stable trading relationships.
- The challenges of relational contracts, such as bootstrapping trust from zero and the costliness of destroying relationships, can be mitigated through strategic interactions and cost signalling.
- The author proposes a sybil-resistant proof-of-trade-history that leverages a voluntary transaction rake to build reputational data, which could shift the preference towards honest cooperation rather than defection.
- Potential for Nostr lies in markets dominated by a few companies that inhibit free interaction, where peer-to-peer transactions via Nostr can lead to substantial market improvements and drive bitcoin adoption as the default currency.
- The author expresses optimism for Nostr's potential to reshape economic systems and ends the article with a personal note on starting an aerospace & defense startup, inviting interested readers to get in touch.
https://heaviside.substack.com/p/nostrato-how-relational-contracts

2023-12-04 01:44:54

The Church of Complexity: Simplify, Don't Overcomplicate Tech Solutions
The tech industry's propensity for overcomplexity in solutions, especially through microservices, has become increasingly problematic, fueled by trends such as JavaScript's use in server development and the influence of FAANG veterans in startups. This complexity is often unnecessary and can lead to significant waste of resources without obvious benefits.
- Successful startups often adopt a 'Keep It Simple' mentality, proving that simplicity can lead to better performance and reduced costs.
- Companies can experience better outcomes with simple, performant systems rather than adopting microservices prematurely, a move that often results in increased difficulty and cost.
https://renegadeotter.com/2023/09/10/death-by-a-thousand-microservices.html

2023-12-01 09:00:14

Bitkey's Bitcoin Wallet Recovery Strategy
Bitkey introduces a comprehensive recovery system aimed at helping customers regain access to their Bitcoin wallets. It offers features like Cloud Backup for lost or upgraded phones, Delay and Notify for lost hardware, Social Recovery for multiple lost components, and Break Glass for discontinuing the current app version. Industry experts suggest enhancements in security measures and additional trusted contact verifications.
- The recovery paper released by Bitkey reveals detailed mechanisms, ensuring users understand how to utilize the various recovery options available.
- Bitkey is considering expert feedback to refine the security and user experience before the official launch, with plans to make the code available for public review.
https://bitkey.build/sharing-our-recovery-design/

2023-12-01 08:57:43

Geothermal Breakthrough in Nevada
A novel geothermal project by startup Fervo has begun supplying electricity to a local grid serving Google's data centers, marking a landmark achievement for renewable energy. Dubbed Project Red, this operation in Nevada is the first to efficiently exploit the Earth's heat using advanced geothermal technology, potentially paving the way for widespread use of this green energy source, despite its current minimal contribution to the global power supply.
- The endeavor uses an 'enhanced' geothermal system to create artificial hot springs by injecting water into dry rock, heating it enough to generate power—a technique adapted from hydraulic fracturing.
- With initial success, producing 2-3 megawatts and the potential for more, Fervo's CEO Tim Latimer sees the project as a scalable solution that could significantly increase the viability of geothermal energy worldwide.
https://arstechnica.com/science/2023/11/new-type-of-geothermal-power-plant-powers-data-centers-in-the-desert/

2023-12-01 08:47:15

Countering Terrorist Financing in the Digital Age
The U.S. Department of the Treasury is looking to bolster counter-terrorist financing measures, particularly addressing the misuse of cryptocurrencies by organizations like Hamas. In a letter and accompanying memo, the Treasury has proposed several recommendations to strengthen its authorities and close perceived gaps in current financial regulations.
- Among the proposals is the introduction of a new authority analogous to secondary sanctions specifically targeting crypto transactions that may aid terrorists. This could include additional record-keeping requirements or even bans for financial institutions on certain types of cryptocurrency dealings.
- The Treasury suggests categorizing entities such as virtual asset wallet providers, blockchain validators, and decentralized finance (DeFi) services as "financial institutions," making them subject to the Bank Secrecy Act. This would treat wallet providers, miners, and DeFi service providers similarly to traditional financial institutions in terms of regulation.
- The Treasury also seeks to extend the IEEPA to include "blockchain nodes or other elements of cryptocurrency transactions," aiming to sanction these technological components directly in response to the Tornado Cash litigation, despite acknowledging the technical and constitutional challenges such measures would face.
- The proposals underscore the struggle to balance necessary national security interests with constitutional rights such as freedom of expression. The efficacy and legality of these measures will depend on their precise legislative drafting, and significant scrutiny is expected as they develop.
https://www.coincenter.org/in-an-effort-to-close-perceived-loopholes-treasury-recommends-massive-expansion-of-warrantless-surveillance-and-power-to-sanction-open-source-software/

2023-11-29 22:33:24

Ronaldo Sued Over Binance Promotion
Cristiano Ronaldo, the world's top-earning athlete, is embroiled in a billion-dollar class action lawsuit. His involvement with Binance, a cryptocurrency exchange recently fined $4 billion, has led to claims that he aided the sale of unregistered securities.
- Binance faced severe penalties after a settlement with the U.S. government, with its CEO stepping down amid allegations of fraud.
- Other celebrities have also faced lawsuits for endorsing crypto projects, reflecting a growing scrutiny on famous figures promoting financial investments.
https://www.forbes.com/sites/zacharyfolk/2023/11/29/cristiano-ronaldo-faces-1-billion-class-action-lawsuit-for-promoting-binance/

2023-11-29 09:02:51

Pentagon Fails to Account for Billions in Audit
The U.S. Department of Defense has failed its sixth consecutive audit, demonstrating an ongoing inability to account for billions in spending. Despite the Pentagon's budget approaching $1 trillion—the largest of any federal agency—it has never passed an annual audit required by Congress and lacks a clear timeline for when it might achieve this. The latest audit examined $3.8 trillion in assets and $4 trillion in liabilities, with the Pentagon arguing they have made progress, though there is no concrete evidence to support this claim.
- The Pentagon comptroller and other officials have failed to provide a definitive deadline for passing the audit, moving away from a previously suggested 2027 target.
- President Joe Biden's budget request for a record $886 billion for the Pentagon faces the possibility of an additional $80 billion increase by Congress, despite the ongoing audit failures and threats of a government shutdown over spending concerns.
https://theintercept.com/2023/11/17/pentagon-audit-failed/

2023-11-28 18:09:29

Dwindling Attraction of U.S. Treasury Bonds
U.S. Treasury bonds are facing a severe demand crunch, resulting in the worst downturn since the Civil War. Factors such as increased borrowing by the government and a reduction in purchases by traditional buyers have led to high yields and struggling bond auctions. The scenario is compounded by the Federal Reserve offloading its bond holdings and major foreign creditors like China and Japan selling their bonds due to currency pressures.
- Treasury bonds offer lower yields than short-term bills, causing investors to prefer the latter.
- The U.S. spends a significant portion of its GDP on debt servicing, with expectations of this cost rising, setting the stage for continued borrowing amid shrinking demand from global and domestic buyers.
https://www.semafor.com/article/11/28/2023/nobody-wants-us-treasury-bonds

2023-11-28 18:01:38

Wallet of Satoshi Pulls Out of U.S. App Stores
Popular Bitcoin wallet, Wallet of Satoshi, has ceased its operations in the U.S. following its delisting from the Apple and Google app stores on August 12th, 2021. The Wallet of Satoshi team cited regulatory pressures as the reason for the withdrawal and assured current U.S. users can still transfer their funds seamlessly from the custodial wallet. With the future uncertain for Wallet of Satoshi, the article warns against the use of custodial solutions and non-open-source software and hardware for Bitcoin, urging users to opt for self-custody and open-source alternatives.
- Non-custodial Bitcoin wallets like Phoenix, Zeus, and Breez offer features such as channel balance visibility, seed phrase backups, and just-in-time channels.
- The event underscores the importance of self-sovereignty in the cryptocurrency space, as reliance on third-party custodians can lead to compromised security and loss of funds due to regulatory or operational changes.
https://sovereignoutcomes.com/transfer-your-fund-from-wallet-of-satoshi-immediately

2023-11-27 23:04:15

U.S. Government Collects Vast Citizen Data
The U.S. government has been covertly gathering substantial amounts of sensitive personal data on American citizens, as unveiled in a declassified report by an advisory panel to Avril Haines, the director of national intelligence. The data collection raises significant privacy concerns, suggesting a gap between legal surveillance limits and the government's activities.
- The government bypasses the need for warrants by purchasing the data, exploiting legal ambiguities and weak privacy laws.
- Advisers highlight risks such as "mission creep" and potential misuse for stalking or harassment, underscoring a disconnect between public perception and actual government surveillance capabilities.
https://www.wired.com/story/odni-commercially-available-information-report/

2023-11-15 08:08:48

“The monetary system strongly effects almost all aspects of our existence. It is the most fundamental infrastructure of society.
It is painfully obvious to me that our current societies are sick and self-destructive, and it seems like the most effective way to help heal is to accelerate the transition to a strong monetary system, that is based in math, to recover from this weak fiat money that is toxic to everyone, even including the people who think they'd profit from printing it...”

2023-10-01 19:28:29

Trust is a euphenism for an exit scam.

2023-08-12 02:23:53

Excited for these beautiful set of bells 🔔 https://cdn.nostr.build/i/8af6f3b81b679585f30243f9b6d0477b6025587c3ab565686d037da69230bb79.jpg

2023-05-31 06:55:42

Latest Damus update is great!

2023-04-28 08:47:43

Phone keyboards suck, fix that problem!

2023-02-24 18:45:56

Don't put the logic in the view. Or the controller. Or the model. Or the database. Just turn off the computer. Go and read a book.

2022-07-01 02:12:08

Getting banned on Twitter has been the best thing that’s happened to me recently. Without that happening, I wouldn’t have gone down the nostr rabbit hole.

2022-06-29 15:56:14