saving.private.bitcoin
Jake

For to be free is not merely to cast off one’s chains, but to live in a way that respects and enhances the freedom of others.

Ser livre não é apenas livrar-se das próprias correntes, mas viver de uma forma que respeite e aumente a liberdade dos outros.

-Nelson Mandela

Public Key

npub1rwr2mn7vl3vw2gd7sf56tqptn8k6r8dwltm3mzy7qv0ta03flcrqrpmknk

NIP-57 Address

saving_private_bitcoin@blink.sv

Profile Code

nprofile1qqsphp4delx0ck89yxlgy6d9sq4enmdpnkh04aca3z0qx847hc5lupsufw8uq

Author Public Key

npub1rwr2mn7vl3vw2gd7sf56tqptn8k6r8dwltm3mzy7qv0ta03flcrqrpmknk

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Last Notes

2025-04-13 16:03:07

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Gold needs much more than some other person to accept it. At what exchange rate? What is the total supply? Who verifies that in a trustworthy way? How does supply adapt to demand? Are there large deposits we haven’t discovered? How do you guard it, transport it (internationally)? Where can you safely exchange it in times of government oppression or depression? How do you verify its authenticity and at what cost?

2025-04-09 16:55:53

If my wealth is defined by a number I see in a dashboard, denominated in a currency that has no fixed supply, hyperbolized by an endless derivatives market, maybe I should reevaluate how much of my health I sacrifice to make this number go up. Maybe my health was the only valuable asset all along, and I was tricked by a market gamified for engagement and cheap dopamine consumption and consumerism. Maybe I’ve enslaved myself to the game, and I have no one to blame but myself.

2025-03-27 17:05:13

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Someone please do an in depth discussion on the state of the Lightning network in a podcast or post. From the outside looking in, it is very hard to identify how strong and robust the Lightning network is now. And that is very discouraging for jumping in and getting my feet wet.
Last time I tried to install and run a private LND node through CLI it was a painful experience. 🙁
I know there are layered abstractions on top of lightning, but there are so many options it becomes overwhelming. 4+ alternatives to LND, AlbyHub, Nostr Connect, etc.

2025-03-24 13:47:45

At the moment, the Government could seize a person’s legally acquired bitcoin if the UTXO itself had, for example, previously been used in sanctions evasion or touched a darknet market; regardless of whether its owner was aware of the coin’s history when obtaining it.
This law will fix this.
#nevent1q…msh8

2025-01-02 01:47:38

# Critical Risks to Bitcoin Network Failure
## Catastrophic Risk Vectors
### 1. The Custodial Cascade
Most dangerous scenario because it's already happening:
- Users increasingly rely on custodial solutions
- Transactions move off-chain into custodial databases
- Node count drops as fewer users verify
- Mining becomes increasingly regulated
- Properties become theoretical rather than actively verified
- 21M cap becomes effectively meaningless
This is particularly dangerous because:
- Each step seems rational individually
- Follows path of least resistance
- Happens gradually, then suddenly
- Mirrors how gold was captured
- Hard to reverse once started
### 2. The Regulatory Chokepoint
Second most dangerous because it's politically feasible:
- Regulated mining becomes the only legal mining
- KYC/AML requirements for all "legal" transactions
- Node software becomes "certified" only
- Development becomes permission-based
- "Legal" Bitcoin diverges from sovereign Bitcoin
Critical because:
- Creates two-tier system
- Makes sovereign usage increasingly difficult
- Reduces network effect for permissionless Bitcoin
- Could split the network between regulated/unregulated
### 3. The Geographic Centralization Trap
Third most dangerous because it's subtle:
- Sovereign usage concentrates in few jurisdictions
- Most regions shift to purely custodial
- Network becomes dependent on few "free" zones
- Those zones become targets for capture
- Network loses global resilience
### 4. The Technical Monoculture
Fourth most dangerous because it's happening:
- Single implementation dominates
- Development centralizes
- Alternative implementations fade
- Network becomes vulnerable to single points of failure
- Harder to resist protocol capture
## Meta-Risks (Risks that Enable Other Risks)
### 1. The Knowledge Gap
- Fewer users understand the technology
- Sovereignty becomes "optional extra"
- Technical governance shifts to "experts"
- Users can't evaluate changes effectively
- Makes all other risks more likely
### 2. The Convenience Trade-off
- Each sovereignty sacrifice brings immediate benefits
- Costs are distant and theoretical
- Market rewards user-friendly but centralized solutions
- Creates feedback loop toward centralization
- Makes recovery increasingly difficult
### 3. The Protocol Ossification
- Changes become increasingly difficult
- Network can't adapt to threats
- Defensive improvements get harder
- Makes network vulnerable to anticipated attacks
- Reduces long-term resilience
## Systemic Weaknesses
### 1. The Bootstrap Paradox
- Network needs both SoV and MoE functions
- SoV encourages holding
- MoE requires movement
- Each side depends on the other
- Failure in either threatens both
### 2. The Sovereignty Spectrum
- Not binary sovereign/non-sovereign
- Each step away from sovereignty seems small
- Cumulative effect is significant
- Hard to define minimum viable sovereignty
- Makes defense difficult
### 3. The Regulatory Ratchet
- Regulations only increase
- Each rule seems reasonable alone
- Cumulative effect is capture
- Very hard to reverse
- Creates one-way path to centralization
## Most Likely Failure Scenario
The most probable path to failure combines multiple risks:
1. Initial Phase:
- Custodial solutions dominate
- Sovereign usage decreases
- Technical understanding declines
- "Bitcoin banks" emerge
2. Middle Phase:
- Regulated mining becomes norm
- Node count drops significantly
- Development centralizes
- Sovereign usage becomes fringe
3. Final Phase:
- Properties become theoretical
- 21M cap exists only on paper
- Network is effectively captured
- Bitcoin becomes "digital gold" in worst sense
## Critical Points of Resistance
The network is most vulnerable at:
1. The Mining Layer:
- Concentrated hashpower
- Regulated pools
- Permissioned transaction selection
2. The Protocol Layer:
- Development centralization
- Implementation monoculture
- Ossification
3. The Transaction Layer:
- Custodial dominance
- Regulated channels only
- Loss of sovereign usage
4. The Social Layer:
- Knowledge loss
- Sovereignty devaluation
- Cultural shift
## Why These Matter
The most dangerous risks share characteristics:
- Gradual rather than sudden
- Each step seems rational
- Hard to reverse once started
- Interact with and amplify each other
- Often invisible until too late
The network could maintain apparent function while losing essential properties:
- Transactions still occur
- Blocks still mint
- Price might even rise
- But fundamental properties lost
- Similar to current gold market
This makes these risks particularly insidious because:
- Hard to detect
- Easy to ignore
- Difficult to fight
- Nearly impossible to reverse
- Self-reinforcing

2025-01-01 16:29:57

# The Bitcoin Medium of Exchange Problem
## The Core Issue
Bitcoin has two fundamental functions that should work together:
1. Store of Value (SoV)
2. Medium of Exchange (MoE)
Current data shows 94% of Bitcoin users treat it purely as a store of value. While this might seem fine on the surface, it creates a deep structural problem that threatens Bitcoin's long-term health.
## Why This Matters
### The Gold Comparison
Gold failed as money because it couldn't practically function as a medium of exchange. This led to paper claims on gold, which eventually became fiat currency. However, gold's physical properties (atomic number 79) remain unchanged regardless of usage patterns.
Bitcoin is different. Its properties aren't maintained by physics - they're maintained by active network participation. The 21 million cap isn't a law of nature; it's a rule that must be continuously enforced by network participants through active sovereign usage and verification.
### The Verification Loop
Every sovereign Bitcoin transaction serves two purposes:
1. Transfers value
2. Verifies and reinforces the network's fundamental properties
When users only hold and never transact, or transact only through custodians, they're not participating in this verification loop. This creates a critical weakness: the network's properties become theoretical rather than actively proven.
## The Monetary Law Problem
### Gresham's Law
"Bad money drives out good money" - when two forms of money are legally required to be accepted at the same face value, people will:
- Hoard the "good" money (Bitcoin)
- Spend the "bad" money (Fiat)
This perfectly explains current Bitcoin behavior. When prices are denominated in fiat with Bitcoin accepted at market rate, Gresham's Law makes hoarding Bitcoin the rational choice.
### Thiers' Law
"Good money drives out bad money" - when exchange rates can float freely and people can choose which money to accept, they'll:
- Prefer to use the good money
- Refuse the bad money
This is what we see in hyperinflationary scenarios where people actively prefer to transact in harder money despite legal requirements.
## The Paradox
This creates a complex challenge:
1. Under current conditions (fiat-denominated prices), Gresham's Law makes hoarding Bitcoin rational
2. But Bitcoin requires active sovereign usage to maintain its properties
3. Without maintained properties, Bitcoin can't reliably serve as a store of value
In other words: individual rational behavior under Gresham's Law threatens the very properties that make Bitcoin valuable.
## The Real Risk
Current trends point toward:
1. Increasing institutional adoption
2. More custodial solutions
3. Growing regulatory frameworks
4. Reduced sovereign usage
This mirrors how gold was captured:
1. Direct usage became impractical
2. Custodial solutions emerged
3. Paper claims replaced physical settlement
4. Properties became theoretical rather than actively verified
But Bitcoin faces an even greater risk than gold because its properties require active maintenance. Without sufficient sovereign usage:
1. The 21M cap becomes a theoretical construct rather than an actively enforced reality
2. Network security becomes dependent on regulated entities
3. Censorship resistance degrades
4. Bitcoin becomes "digital gold" in the worst sense - captured and neutered
## The Convenience Trap
The path of least resistance leads toward:
1. Custodial solutions
2. Regulatory compliance
3. Reduced sovereignty
4. Less direct verification
Each step seems individually rational but collectively threatens Bitcoin's fundamental value proposition.
## Why Technical Solutions Don't Fix This
Current proposals focus on:
1. Scaling solutions (Lightning)
2. Protocol improvements (Covenants)
3. Efficiency gains
But these don't address the core issue: people simply aren't choosing to use Bitcoin in a sovereign way, even when it's easy and cheap to do so. Current fees are minimal (~12 cents) and blocks aren't full, yet sovereign usage remains low.
## The Cultural Shift
The original Bitcoin culture emphasized:
1. Permissionless transactions
2. Censorship resistance
3. Individual sovereignty
Current culture emphasizes:
1. Store of value
2. Institutional adoption
3. Regulatory clarity
This shift matters because it changes behavior patterns that maintain Bitcoin's fundamental properties.
## The Core Question
How does Bitcoin maintain its store of value properties if its medium of exchange function is neglected?
The answer might be: it can't. Just as gold's store of value proposition was ultimately compromised by the failure of its medium of exchange function, Bitcoin faces the same risk - but with even greater stakes because its properties require active maintenance.
## Why This Isn't FUD
This isn't about:
- Price predictions
- Short-term concerns
- Technical limitations
- Regulatory threats
It's about the fundamental requirements for Bitcoin to function as designed. The store of value proposition depends on properties that must be actively maintained through sovereign usage.

2024-10-29 23:51:50

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The real question is can normal people handle the dopamine detox required to engage with a neutral social media framework 🤔 Or how can the framework incentivize them beyond their own well being - humans don’t tend to eat a lot of broccoli and spinach even though it is way better for them than ice cream.

2024-10-28 16:46:44

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Haha yup a revoked law. Historical news.

2024-10-25 19:07:15

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Does your last sentence imply that all content will have a pay wall to access or it is creator configurable? Or something else.

2024-10-25 14:52:09

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Happy to hear you like the idea! 🙌🏻🍻 Just a follow up note. The gamification features mentioned (achievements, rewards, venue discovery) require careful balance between public visibility and user privacy. While you can implement basic public anonymous achievements now, meaningful social features need Nostr's upcoming trust circle protocol to:
Let users share specific venue visits with trusted friends only
Enable private recommendations within friend groups
Create meaningful social engagement without exposing user patterns
Balance public badges/achievements with private transaction data
Recommendation: Start with anonymous public achievements, but design your architecture to easily integrate trust circle features once the Nostr protocol adds these capabilities. This ensures you protect user privacy while building toward fuller social features.
Current scope: Anonymous public achievements
Future scope: Rich social features within trust circles

2024-10-24 17:06:24

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An idea I’ve been reflecting on:
BTCMaps: The Geographic Interface for Nostr
Vision:
Position BTCMaps as the primary geographic visualization layer for Nostr's decentralized social network, combining privacy-preserving engagement tracking with gamification opportunities.
Key Components:
Map Nodes: Store locations tagged with Nostr public keys
Visit Verification: Local proof signing using client and vendor keys
Privacy-First Framework:
All sensitive operations happen on user devices
Local storage of visit history and achievements
Users control what data to share publicly
Gamification Engine:
Achievement tracking without compromising privacy
Verifiable visit proofs for rewards/badges
Community engagement incentives
Strategic Value:
Establishes BTCMaps as the standard for geographic Nostr data
Creates engaging user experience through gamification
Maintains user privacy while enabling social features
Provides businesses with opt-in engagement metrics
Sound interesting?

2024-10-09 12:50:15

Wow, I didn’t know it was deep fake resistant too. So promising a technology 😍
#note1q60…e0th

2024-10-08 00:31:28

🤣🤣 #note1q02…0zkv

2024-10-08 00:27:57

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Great event! Let’s keep it growing.

2024-10-07 00:18:03

A beautiful nature escape! Outskirts of Asunción #sanbernardino
https://m.primal.net/LNRs.jpg
https://m.primal.net/LNRu.mov

2024-10-05 14:38:49

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That’s a lot of sophistimacative wordings for a puppet. Does she even recognize the implications of what she is saying, or did some authority give her a gold star?

2024-10-02 15:45:50

Informed posts like this is why I love Nostr #note193x…kt5f

2024-09-30 22:48:54

Doing the important work. #note1wvw…0e7a

2024-09-30 19:33:59

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https://m.primal.net/LGoz.jpg

2024-09-30 19:30:22

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https://m.primal.net/LGou.jpg
https://m.primal.net/LGov.jpg
https://m.primal.net/LGow.jpg
https://m.primal.net/LGoy.jpg
https://m.primal.net/LGpA.jpg
https://m.primal.net/LGpB.jpg
https://m.primal.net/LGoz.jpg
https://m.primal.net/LGpC.jpg

2024-09-30 19:27:09

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https://m.primal.net/LGoq.jpg

2024-09-30 19:25:02

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https://m.primal.net/LGok.jpg

2024-09-29 16:09:27

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It varies, but I feel different cities have different general characteristics. I’ve never emotionally forgiven São Paulo for its cheap overpriced “luxury” apartment marketing 😅🙃

2024-09-28 17:13:26

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A convenient side effect for them I think. Their main goal seems to be to destabilize the country, a formula that has been in testing in many countries throughout the world. Destabilization = fear. Government learned well from Covid that fear = easier assimilation of power.

2024-09-28 17:10:17

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Just be careful with new construction here. They’re starting to mimic São Paulo building patterns. Using cheap materials with fancy premium design to maximize profit. The duplexes and older apartments often have higher quality materials (solid wood vs MDF, etc).

2024-09-26 21:58:11

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🤮🤮🤮 When rulers run corruptly under the veil of good, and it is clear as day, it is the most nauseating sensation.

2024-09-26 17:44:55

Justice in America is as biased as our politics. #freeRoss #note1q4d…6pux

2024-09-24 22:08:14

“Central Reserve Bank: Only 1.1% of Remittances Involve Cryptocurrency in El Salvador: The adoption of cryptocurrency, especially Bitcoin, for remittances has failed to surge in El Salvador, even with the support of President Nayib Bukele’s administration. According to data provided by the Central Reserve Bank, only 1.1% of all remittances sent to the country from January to August 2024 include cryptocurrency. (BitcoinCom) (AC-Why have remittances in cryptocurrencies fallen in ES over the last 3 years even after government incentives to do so? The answer to this question may open up worldwide adoption very quickly. There is a practical aspect of P2P worldwide transfers that most bitcoiners are missing. Opportunity knocks.)” #note1uzr…h9en

2024-09-23 19:07:55

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A reminder that I need to distance myself from YouTube. Truly awful 😵‍💫

2024-09-23 19:05:26

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I hope to see continued effort from their team to further decentralize. Ocean mining is ahead of Braiins in this critical aspect.

2024-09-23 14:01:29

From a psychological perspective, Bitcoin could do much better if we called Sats > Bitcoin, and Bitcoin > Sats. In a society heavily indoctrinated to focus on “number go up”, big numbers feel better. “I own 100,000,000 Bitcoin” is way easier to brag to your friends about at a party than “I own 1 Bitcoin”. 🥴

2024-09-21 14:28:12

Saturday morning brunch 💯👨‍🍳 #asunción https://image.nostr.build/b82385e4c47b7a665955a80ddd6222c029816faf0c63927e4a8bea0278c39bdc.jpg

2024-09-20 15:16:18

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🤣🤣🤣

2024-09-20 14:18:38

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🤣🤣🤣🤣🤣

2024-09-19 15:10:50

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These are amazing.

2024-09-19 15:05:35

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Haha haha haha haha

2024-09-18 16:04:27

Just made my first payment directly via BTC on-chain! It feels good not supporting corrupt systems 💯🤘🏻

2024-09-17 13:25:07

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I’ll be doing this soon. Curious your experience 👀

2024-09-09 14:20:41

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Fantastic book!

2024-08-19 13:52:55

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Please do these daily. Just subscribed!

2024-08-13 13:36:53

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Much higher?

2024-08-11 21:11:32

Can someone plzzz make a Nostr-based Reddit? It would also be a nice F you to corrupt management at centralized Reddit co 😇

2024-08-11 21:06:42

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Seems more relevant to do it Reddit style than chat based.

2024-08-11 00:17:42

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This makes soooo much sense

2024-08-10 23:53:58

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😍😍😍

2024-08-10 23:52:48

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The most peaceful place on earth! ❄️🫶🏻

2024-08-10 18:17:51

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Yes, a split 6/6 month lifestyle might be ideal. Which beach are you referring to?

2024-08-10 18:08:39

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The non-sexy Latin country that gets none of the attention, but once you visit you fall in love with the quality of life 🤩 Still waiting on summer heat to prove me wrong 😂

2024-08-10 17:13:40

I’ve always heard how stable and safe Chile is. So it was surprising to find so many locals discussing how dangerous Santiago has become in the last few years when we visited. It still remains one of the most beautiful countries I have had the pleasure to explore.
Sempre ouvi falar sobre o quão estável e seguro o Chile é. Então foi surpreendente encontrar tantos moradores locais discutindo o quão perigosa Santiago se tornou nos últimos anos quando a visitamos. Ela ainda continua sendo um dos países mais lindos que tive o prazer de explorar.
#Santiago, Chile 🤩🫶🏻 https://image.nostr.build/911ceba7d02237115e14058d916b02743f7d89e04827a40b8f5da0a2c0f4d17c.jpg https://image.nostr.build/578070eecd636429712ce53d9cc07cb951604cff8afeb917003ffa4dd3212dd9.jpg https://image.nostr.build/68e4066cb881ea1c147101ad5c9aa4b99b928175c6944af4526024d8d453a33b.jpg https://image.nostr.build/0f4aa1c1b011bb35260eb928fed4a30f7694a53d799eee3a9151b8d7a9025ec2.jpg https://image.nostr.build/53878fa2246b351e41f96fb586d1216afa956d331be2671c613c77dff41d254f.jpg

2024-08-10 16:56:49

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Natural talent 🙌🏻🍻

2024-08-10 16:24:56

More Patagonia ❄️🧊 #patagonia
https://m.primal.net/JuxP.jpg
https://m.primal.net/JuxR.jpg
https://m.primal.net/JuxT.jpg
https://m.primal.net/JuxZ.jpg

2024-08-10 16:16:59

One of the most beautiful places on earth | Um dos lugares mais lindos do mundo. 💛 #patagonia #beautifulplaces
https://m.primal.net/Juwr.jpg
https://m.primal.net/Juwm.jpg