Ferenc Kovács's avatar
Ferenc Kovács
ferenckovacs@primal.net
npub1gxuu...lpxk
Creating value in hospitality, precast concrete, and property management. Member of @HuszonegyWorld, founder of @BitcoinMiskolc. #bitcoin
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ferenckovacs 5 months ago
According to Jamie Dimon, CEO of JPMorgan Chase, Bitcoin is only for criminals – meanwhile, his bank was just fined 3 billion dollars for money laundering. 🤡 Banks have paid more than 46 billion dollars in money laundering fines since 2000, of which nearly 28 billion just for AML violations. Ironic, isn't it? 😏 Bitcoin, on the other hand, is an ethical and fair financial system that can never be stopped. It is regulated not by human but by natural laws. Source: image
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ferenckovacs 5 months ago
⚠️ Important update for Bitcoin users in Hungary and the EU Revolut has just informed Hungarian users via email that they are temporarily disabling all crypto ↔️ fiat currency conversions in accordance with new Hungarian regulations. But more importantly: you currently cannot send your Bitcoin out of Revolut either. This means your coins are stuck until further notice. ⸻ 🔑 This is why we always say: Not your keys, not your coins. If you can’t move it — it’s not yours. If someone else controls it — it’s not yours. ⸻ 💡 What can you do? If your Bitcoin is still on Revolut: – You’ll need to wait until they re-enable withdrawals. – You currently can’t use or move your Bitcoin. If your Bitcoin is on any other exchange that does NOT have a MiCA license: → Move it now while you still can. → Don’t wait until withdrawals are frozen. ⸻ ✅ Recommended Bitcoin wallets (for real self-custody): 📱 Mobile wallets (easy to use): – BlueWallet → – Phoenix Wallet → https://phoenix.acinq.co – Aqua Wallet → 🧊 Hardware wallets (advanced users): – Trezor → – Coldcard → ⸻ 🏛 What’s this all about legally? As of July 1st, Hungary introduced a modification to its Criminal Code (Btk.), stating that crypto-to-fiat conversions must be done only via regulated entities with MiCA (Markets in Crypto Assets) licensing. However, the Hungarian regulatory authority hasn’t yet been set up to enforce this. Still, as a law-abiding citizen, I’ve chosen to switch to exchanges with MiCA licenses such as: – bybit.eu – bitpanda.com – coinbase.com These are fully compliant with EU regulations — no need to wait for MNB approval. ⸻ 🧡 This is why Bitcoin matters. It’s a financial asset that is: – stateless, – outside corporate or political control, – designed with mathematical certainty. You don’t need permission to own or use it. But you do need to learn how to custody it yourself. ⸻ 🎓 Want to learn more? Check out the only Bitcoin-only community and conference in Hungary: 🌐 www.bitcoinmiskolc.hu 🇭🇺 huszonegy.world — open, free Hungarian Bitcoin community #Bitcoin #NotYourKeysNotYourCoins #MiCA #Revolut #Hungary #EUcrypto #BitcoinHungary #SelfCustody #BitcoinMiskolc image
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ferenckovacs 5 months ago
“Maybe you remember when last year I urged Hungary’s biggest companies (like MOL and OTP) to put our little country on the map of global BTC Treasury firms — that is, those who hold Bitcoin on their balance sheets.” – Dr. Károly Varsányi, attorney, editor of digitalcash.hu In the end, it wasn’t a corporate giant, but a Hungarian SME that put Hungary on that map — us, the KV Group. 🙏🏻🇭🇺 Being a pioneer is never easy. The path is unclear, and most don’t even understand where you’re headed — success is far from guaranteed. But at the same time: the glory also belongs to the pioneers — for they walk where no one has walked before. 🚀🌍 Just recently, Dr. Károly Varsányi (@drVarsanyi) interviewed me about our journey into using Bitcoin as a corporate treasury asset. 👇 Below is the full Q&A — translated into English from our original conversation. 📄 Original article in Hungarian: ⸻ 🟠 1. Where did the idea come from? US inspiration or your own concept? The idea was definitely sparked by Michael Saylor, when he started buying Bitcoin for his company. But our decision actually came even earlier — before “Bitcoin Treasuries” became trendy. Back in early 2024, while preparing for our first Bitcoin-related event, I ran a simple calculation: what if an average Hungarian had saved just 3,000 HUF (~$8) per week in Bitcoin? The results were astonishing. That was my turning point — like Saylor said: this is not a gamble, it’s a monetary asset. So we decided to commit: 1% of our company’s annual revenue would go into Bitcoin — through direct purchases or by accepting it at our two hotels. My vision is that, over 10 years, this reserve might grow large enough to cover a full year of revenue — funding innovation and expansion. 🏗💡 ⸻ 🧠 2. What’s the goal — education, economic strength, or both? Both. I believe you shouldn’t just talk about new ideas — you should live them. I wanted to experience this first-hand, and then show others it’s possible. Over time, we expanded the idea. Today, we allocate not just 1%, but all available free cash from real estate development into Bitcoin. Our logic is this: physical assets like housing, and digital assets like Bitcoin, can coexist. One is real estate — the other, hard digital money. 🏘🧱⚡ ⸻ 📊 3. Do you have a target amount of BTC in mind? No fixed target. The 1% rule is a disciplined, sustainable structure. We wanted something we can stick to regardless of market volatility or macroeconomics. But let’s be honest: there’s no such thing as “enough” Bitcoin. So we aim to maximize what we can hold. 🧮🔐 ⸻ 🧾 4. How did your accounting department react? It didn’t happen overnight. Since summer 2022, I’d been giving small Bitcoin gifts — 10,000–20,000 HUF in sats — to family, friends, and colleagues on birthdays. That helped normalize Bitcoin in our circles. By the time we implemented the company strategy, our team was already on board. We involved lawyers and accountants from day one. They adapted, learned, and supported us — even in traditional sectors like construction and hospitality. 🧑‍💼📚 ⸻ 🇭🇺 5. Do you know of any other Hungarian companies doing this? Honestly: no. Many individuals have BTC, but I don’t know a single other Hungarian company that holds Bitcoin on its balance sheet with this kind of intention and philosophy. We might be the first — and hopefully not the last. 🥇 ⸻ 🔧 6. What operational changes did it bring? Our two hotels — Hotel Aurora (Miskolctapolca) and Hotel Atlantis (Hajdúszoboszló) — have accepted BTC for over a year now. Staff adapted quickly, and guest feedback has been very positive. 🏨🧾 In construction, we don’t accept BTC yet, but we purchase €5,000 worth of Bitcoin every month. We’ve already passed our first audit: how we acquire, store, and report Bitcoin — all documented. It’ll be smoother every year now. We even went a step further: we publicly share our three corporate Proof of Reserve addresses. How many private companies globally do that? Transparency matters. 🔍📬 And we’re launching something new: a Bitcoin consulting company where everything — pricing, supplier contracts, wages — is denominated in satoshis. A real-life, Bitcoin-native business ecosystem. 🌱⚡ ⸻ 👍 7. What kind of feedback have you received? All positive. Whether it’s friends, partners, or online strangers — people are curious, respectful, and supportive. It always sparks conversation. 💬💡 Even on social media, comments are thoughtful and engaging. I haven’t received a single negative reaction so far. 🤝 ⸻ 💳 8. How does BTC payment work at the hotel — for guests and accountants? Guests scan a QR code generated by our in-house BTC Pay Server via our own POS terminals. They can pay on-chain or via Lightning. The sats go to our Strike wallet. Every few weeks or months, we consolidate those sats and send them on-chain to cold storage — zero fees. 🔒 👉 Invoices are always issued in HUF (forints) — just like for credit card or SZÉP card payments. BTC is simply another payment method. Accounting gets all the Pay Server data and reconciles it with HUF invoices. It’s clean, compliant, and legal in Hungary. Bonus: now online BTC payments are also live — deposits and full bookings via our website. 🧾🌐 ⸻ 😨 9. What’s the biggest fear or misunderstanding among other business owners? They always ask: “Is this legal?” or “Do you instantly convert to fiat?” — the usual fear of regulation or volatility. But BTC payments are still tiny — probably below 0.1% of total revenue — so there’s no point stressing about conversion. 🤷🏻‍♂️ My advice is simple: we, the business owners, have to take the first step. Not the customers. It’s our responsibility to lead and offer alternatives. And it’s practically free to implement if you want to start small. This is about mindset, not money. 🧠 ⸻ 🧭 10. How has your mindset changed since adopting Bitcoin? It shifted dramatically once I started imagining a fully Bitcoin-denominated business. At first, I feared volatility — like, if BTC pumps, won’t our prices look “expensive” in fiat? Then I realized: if you price in sats, you can lower your prices over time as Bitcoin appreciates. That’s amazing PR. You’re not raising prices — you’re dropping them. 📉🔥 That’s what we’ll do in our real estate division too. You’ll be able to buy or rent apartments in Bitcoin. We’re even building a football pitch that will be bookable only in sats — prices will be adjusted quarterly based on BTC strength. Same with our new parking facility: subscriptions will be payable only in Bitcoin. 🅿️⚡ This is more than a business model — it’s a statement. Prices can go down. Just not in fiat — only in Bitcoin. 🟠 image
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ferenckovacs 5 months ago
🇭🇺 Welcome to Hotel Atlantis in Hajdúszoboszló, Hungary — one of the country’s most iconic spa towns, famous for its healing thermal waters and long wellness tradition. ⚡️ Yes — you can pay with Bitcoin at Hotel Atlantis! If you’re a Bitcoiner, you’re more than welcome — we’re ready for you. 🧡 👨‍🍳 Let Executive Chef Oláh Zoltán take you on a walk through our refreshed buffet dinner — where regional Hungarian ingredients meet modern culinary techniques and international favorites. 🧀 Local cheeses, smoked trout from Szalajka Valley, bivaly mozzarella, Angus beef carpaccio — all sourced from nearby producers. 🍖 Mangalica pork knuckle, herb-bound veal, venison with porcini and red wine, roasted catfish, seasonal vegetables, risottos and handcrafted desserts. 🍽️ Everything freshly prepared, plated with passion, and served in our renewed restaurant — now open for outside guests too. 📍 Book directly at: www.hotelatlantis.hu #HotelAtlantis #BitcoinAccepted #Hungary #BuffetDinner #Wellness #TravelHungary #ThermalBaths #BitcoinHotel #BTC
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ferenckovacs 6 months ago
Are you? Life rarely goes exactly the way you want. Instead, it tends to rhyme—like history, just in shorter waves. Keep going, wherever you are. 🙏🏻 Clear eyes, full hearts, can’t lose! image
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ferenckovacs 6 months ago
🎯 Who am I? Many of you asked about my background — since sometimes I talk about hotels, other times about construction, and often about Bitcoin. 📐 I’m a civil engineer by degree, graduated from Budapest University of Technology and Economics (BME), and I’ve been an entrepreneur since 2010. For more than a decade, I co-led our family business with my father. After his passing over two years ago, I’ve been running our companies on my own. 🏗 I’m the CEO of KV Építőipari Kft., specializing in reinforced concrete element manufacturing. This year, we’re launching precast modular housing — both family homes and mini apartment buildings. 🏨 We operate two 4-star hotels in Hungary: – Hotel Aurora (Miskolctapolca) – Hotel Atlantis (Hajdúszoboszló) 🏢 We’ve developed and built over 600 apartments in the past two decades. 🧠 And now? I believe Bitcoin is the financial tool that will elevate our company group to the next level in the decade ahead. Not just an investment — but a solid base layer for the future. ⸻ #bitcoin #entrepreneurship #construction #hospitality #realestate #bme #hungary #bitcoinesbusiness #familybusiness #leadership #generationalchange #hotelatlantis #hotelaurora #kvkft #buildwithbitcoin #civilengineer image
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ferenckovacs 6 months ago
🚨 Emergency Bitcoin Update – Important Change in Hungary (from July 1) 📜 On July 1st, Hungary introduced a modification to its Criminal Code (Btk), which states that buying or selling bitcoin or crypto is only legal through EU-licensed (MICA) exchanges. 👉 In practice, I’ve registered with platforms that meet this criteria, such as: – Bybit.eu – Bitpanda – Possibly Revolut too 💬 The Hungarian National Bank (MNB) stated informally that this law isn’t yet enforceable, because the supervisory body hasn’t been set up. ⚠️ But what is currently in effect must be respected. 💡 So as a law-abiding citizen, I will only use MICA-licensed exchanges for transactions above HUF 5 million (about $13,500). That said, some legal interpretations suggest even smaller transactions may technically fall under the new regulation. 📌 Recommendation: Double-check the license of any exchange you use. ⸻ 💬 Another frequent question: “Bitcoin is expensive — should I still buy?” Yes. Bitcoin is not a stock or a bond. It’s a long-term asset. You don’t buy it for 6 months — you hold it for 4+ years. ⚡️ Like electricity: You weren’t the first person to install lightbulbs in your home — but you still use them today. Bitcoin is like that: A tool. A financial protocol. A breakthrough. Not too early. Not too late. Just in time. ⸻ 🔧 Bitcoin is: – Free from state control – Free from corporate control – Free from individual manipulation It’s the most precisely engineered monetary system in human history. You don’t need to open an account with anyone. You don’t need to trust any institution. Bitcoin can be fully yours. ⸻ 📍 Want to learn more? – Visit: www.bitcoinmiskolc.hu – Watch: Bitcoin Miskolc on YouTube – Join: www.huszonegy.world — a free and open Hungarian Bitcoin community. 🔓 No VIP rooms. Just transparency, learning, and real people. Join us. Let’s grow together. #bitcoin #Hungary #MICA #regulation #btc #financialfreedom #bitcoinlaw #crypto #btccommunity #bitcoineducation #BitcoinMiskolc #21world image
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ferenckovacs 6 months ago
What do you think will happen? The printer is about to roar again. Why? Ray Dalio explains. Ray Dalio is one of the most influential investors of our time, founder of Bridgewater Associates — the largest hedge fund in the world for many years. His insights on economic cycles are closely watched by both Wall Street and policymakers around the globe. Here’s what he wrote after his recent visit to Washington, DC: “After spending time in Washington, DC discussing the budget deficit with senior people on both sides of the aisle, it’s clear to me that we are unlikely to change the debt trajectory we’re on and avoid the painful consequences. While virtually everyone agrees on the need to address our debt problem in a balanced way that includes tax increases and cuts to benefits, they also agree that they cannot speak up because politics have become absolutist. We must find a solution around absolutist pledges like, ‘I will not raise taxes,’ or ‘I will not reduce benefits,’ when they are desperately needed.” #RayDalio #Bridgewater #debtspiral #inflation #USdebt #macroeconomics #bitcoin image
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ferenckovacs 6 months ago
🎉 “Now it’s the B-side.” Yesterday I turned 40 — and while some say that’s already the second half of the game, I feel like this is where the #Bitcoin side truly begins. We celebrated the weekend in a small family circle, and I was overwhelmed by the amount of messages and birthday wishes. 🙏 Even more touching: my wife surprised me with a video compilation from friends — from the middle of the Atlantic to Dubai to Budapest. Thank you to everyone who shared a few words, a smile, or a thought. 🤝 And I realized: over the past two years, I’ve made so many new friends. Some of them through #bitcoin, some through life, but they’ve become real, meaningful connections — full of great conversations and moments we’ll never forget. Bitcoin is not work for me. It’s not a duty. 👉 It’s an opportunity. To wake up with purpose. To contribute to something meaningful. To be part of a change that’s built on clarity, mathematics, and values. 🧭 Because if we don’t change the monetary system, our children will grow up in a world we wouldn’t want to leave behind. And if there’s one tool that can change this — it’s bitcoin. ⏳ Life is not measured in years — it’s measured in moments. Moments that become memories. Moments that make it worth showing up. Moments we live through together. So that’s the next decade’s goal: ✨ more memories, more encounters, more shared adventures. Thank you for being on this journey with me. 🚀 #Bitcoin #40Years #Gratitude #NewChapter #Bside #Purpose #Community #Freedom #SoundMoney #Next10Years #TheBestIsYetToCome image
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ferenckovacs 6 months ago
💡 Maybe it’s time to redefine what business success means. What if the real question is: how much bitcoin can your company hold in reserve? We’re proud to share that KV Cégcsoport is now listed on bitcointreasuries.net, ranked #35 among all private (non-public) companies that officially hold bitcoin on their balance sheet. This means we’re standing alongside firms like SpaceX, Tether, and JAN3 — all committed to building a future on sound money. We stacked 1 BTC in a year. And we’re not stopping. This is not about numbers — it’s about vision, responsibility, and building for the long term. Thank you to everyone who supported us on this journey. Follow @btc_treasuries for the full list. #bitcoin #treasury #bitcointreasuries #KVGroup #business #soundmoney #futureproof image
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ferenckovacs 6 months ago
KV Group’s #Bitcoin reserve totals 1.07896864 BTC, acquired for $92,828. At a current rate of $107,560/BTC, it’s worth $115,925, reflecting an unrealized gain of +24.9%. We’re holding until at least 2034. #ProofOfReserve #SoundMoney image
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ferenckovacs 6 months ago
🕵️‍♂️ Make it harder to track you – obscure what really happened in your Bitcoin transaction ⸻ 🔐 Why does this matter? All Bitcoin transactions are public. Even if your name isn’t tied to an address, basic chain analysis can still reveal: – which output was the payment – which one was the change – and how much remained under your control And that’s a privacy issue – not just for you, but also for the person you’re paying. ⸻ 🧾 What can you do about it? The key is to make the structure confusing. To make it unclear which output was the payment, and which was the change. To break the obvious patterns. ⸻ 🛡️ That’s exactly what Sparrow Wallet does. Instead of sending the leftover amount (change) back to a single address, Sparrow splits it across multiple change addresses – so the outputs all look similar and no one can say which one is yours. ⸻ 🔍 From the outside, it looks like: – several UTXOs were used – multiple addresses received Bitcoin – and it’s unclear which output went to the recipient But in reality, maybe you just sent one payment – and the rest quietly returned to you. ⸻ 🎯 It’s not about hiding the fact that a transaction happened. It’s about obscuring which part of it was the actual payment – and that’s the real power of privacy. This protects: ✅ your financial behavior ✅ your counterparty ✅ your future spending paths And you don’t need to do anything extra – just use a wallet that respects this logic. ⸻ 📥 Try Sparrow Wallet: 👉 ⸻ 📘 What’s a UTXO? Bitcoin doesn’t work like a bank balance. Each incoming transaction creates a separate unit of spendable bitcoin – called a UTXO (Unspent Transaction Output). Your wallet selects from these when building a transaction – and their arrangement matters more than most people realize. ⸻ ✅ Don’t make your Bitcoin flows too easy to follow. Use tools that confuse the chain – and protect your sovereignty. ⸻ #Bitcoin #SparrowWallet #PrivacyTools #UTXO #ChangeAddress #CoinControl #SelfCustody #FreedomMoney #BTC image
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ferenckovacs 6 months ago
🎯 How long should you hold your bitcoin? And what’s the point if you never sell it? There are two types of “selling”: 1️⃣ One is when you sell your bitcoin for fiat currency — like forints, euros, or dollars. That’s a questionable move, because those currencies consistently lose purchasing power: • Forint: ~10% annually • Euro/dollar: ~6–7% annually 2️⃣ The other is when you spend your bitcoin — for real goods or services: buying ice cream for your kids, a home, a car, or going on vacation. 👉 That’s not selling — that’s meaningful use. 📌 The purpose of money is to store value and spend it later. Bitcoin helps you do just that — it preserves your savings over the long term. Fiat currencies can’t do this. Not even close. #bitcoin #hodl #storeofvalue #inflation #financialliteracy #digitalmoney #bitcoinuse image
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ferenckovacs 6 months ago
💡 Start — even if it’s not perfect. You don’t need to wait for the perfect moment, flawless form, or for everything to align. Progress doesn’t begin when you’re ready — it begins when you take that first step. 🏃‍♂️ Monday morning run is done, around four kilometers here in Dresden. I reminded myself: it’s not about speed, it’s about direction. Once you’re headed the right way, build consistency. And only then — focus on speed and efficiency. Wishing you all a strong start to the week! 🙌 #4amRUN #running #motivation #startnow #progress #bitcoin #weeklystart #directionmatters
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ferenckovacs 6 months ago
💪 Sunday evening training done. 🎒 We just got back from Prague, where I attended a 3-day #Bitcoin conference. It was packed with learning — lots of sitting, not much movement. 🏃‍♂️ So the moment I got home, I jumped into a workout. There’s still work to do in this life, and for that, I need to stay healthy. 👟 I wish the same for you: move your body, stay active, and take care of your health! Have a great weekend — and a strong week ahead! 🙌 #bitcoin #fitness #healthylife #btc #bitcoinprague #stayactive #sundayworkout #movementmatters
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ferenckovacs 6 months ago
After @jack mallers’ talk, it’s hard to see Bitcoin as anything less than the voice of conscience in the digital age. Bitcoin is not just tech. Not just “NGU”. Not just an investment. It’s an ethical stance. A peaceful revolution — built by people, for people. Jack reminded us of the core principles Bitcoin defends: 🛑 You shall not steal 📈 You shall not inflate 🚫 You shall not censor 🔒 You shall not confiscate ⚠️ You shall not counterfeit Bitcoin’s rules aren’t written by politicians — they emerge from consensus. This is freedom money. 🌅 The future isn’t something we wait for — it’s something we build. 👉 Choose ethical money. 👉 Choose freedom. 👉 Choose Bitcoin. #Bitcoin #JackMallers #SoundMoney #FreedomMoney #BTCPrague #PeacefulRevolution #EthicalFinance
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ferenckovacs 6 months ago
#Bitcoin is not just technology. It’s a revolution. ⚡️ A monetary reactor has been ignited. It’s generating energy. There’s no off switch. It doesn’t need Saylor anymore — or anyone else. It’s unstoppable. 📈 According to @Michael Saylor: ➡️ 21 million coins ➡️ $21 million per coin ➡️ In 21 years ➡️ Growing 21% annually This isn’t a dream. It’s a 21-year plan: ✅ Clarity ✅ Courage ✅ Action …anchored by Bitcoin. ⸻ People often say: “I’m too late. I didn’t buy in early…” 😔 But think about it: 🔥 Were you late to fire because you didn’t invent it in the Stone Age? ⚡️ Were you late to electricity because you weren’t around in 1900? 🌐 Were you late to launch a website just because you missed the early 2000s? So why would you think you’re late to Bitcoin just because it used to be 100x cheaper? You’re not late. The revolution is happening now. ⸻ 👉 What are you waiting for? #bitcoin #monetaryrevolution #SatoshisFire #21YearPlan #FreedomMoney #NotTooLate #SoundMoney #FixTheMoney
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ferenckovacs 6 months ago
Tony Yazbeck @Tony | thebitcoinway.com ⚡️ – founder of The Bitcoin Way – speaks from experience. He ran his business responsibly, saved diligently, yet overnight lost everything during Lebanon’s currency collapse. Doctors, teachers, entrepreneurs — everyone was affected. Banks froze accounts. Savings evaporated. The local currency collapsed. For them, Bitcoin could have been a lifeline — if only it had been accessible. Today, we have that choice. We can learn from their mistake and step off the train that’s speeding toward a wall — the train called unpayable, inflatable, broken money. Don’t let life catch you with your pants down on the toilet. 🚽 ⸻ #bitcoin #savetools #inflation #fiatcollapse #lebanon #donttrustverify 🧠🛟📉💥 image