𝗖𝗼𝗻𝗻𝗲𝗰𝘁 𝘁𝗼 𝘁𝗵𝗲 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗰𝗶𝗿𝗰𝘂𝗹𝗮𝗿 𝗲𝗰𝗼𝗻𝗼𝗺𝘆 𝘂𝘀𝗶𝗻𝗴 𝗦𝗮𝘁𝗼𝘀𝗵𝗶𝗚𝗣𝗧! Searching for places to eat, or places where you can spend #Bitcoin is a pain in the ass. Now, thanks to @BTC Map, you can just ask Satoshi — and he will list it out for you. Simple. Fast. Easy. “𝘞𝘩𝘦𝘳𝘦 𝘤𝘢𝘯 𝘐 𝘣𝘶𝘺 𝘤𝘰𝘧𝘧𝘦𝘦 𝘪𝘯 𝘔𝘪𝘢𝘮𝘪 𝘸𝘪𝘵𝘩 𝘣𝘪𝘵𝘤𝘰𝘪𝘯?” “𝘞𝘩𝘦𝘳𝘦 𝘤𝘢𝘯 𝘐 𝘨𝘦𝘵 𝘣𝘢𝘳𝘣𝘦𝘤𝘶𝘦 𝘧𝘰𝘳 𝘥𝘪𝘯𝘯𝘦𝘳 𝘵𝘰𝘯𝘪𝘨𝘩𝘵 𝘸𝘪𝘵𝘩 𝘣𝘪𝘵𝘤𝘰𝘪𝘯?” “𝘚𝘩𝘰𝘸 𝘮𝘦 𝘵𝘩𝘦 𝘵𝘰𝘱 3 𝘳𝘦𝘴𝘵𝘢𝘶𝘳𝘢𝘯𝘵𝘴 𝘵𝘩𝘢𝘵 𝘢𝘤𝘤𝘦𝘱𝘵 𝘓𝘪𝘨𝘩𝘵𝘯𝘪𝘯𝘨 𝘱𝘢𝘺𝘮𝘦𝘯𝘵𝘴.”

“𝘛𝘩𝘦 𝘝𝘦𝘣𝘭𝘦𝘯 𝘦𝘧𝘧𝘦𝘤𝘵 𝘪𝘴𝘯’𝘵 𝘱𝘳𝘪𝘤𝘦𝘥 𝘪𝘯” - @Samson Mow The Veblen Effect, named after economist Thorstein Veblen, describes a situation where 𝘁𝗵𝗲 𝗱𝗲𝗺𝗮𝗻𝗱 𝗳𝗼𝗿 𝗮 𝗴𝗼𝗼𝗱 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝘀 𝗮𝘀 𝗮 𝗿𝗲𝘀𝘂𝗹𝘁 𝗼𝗳 𝗶𝘁𝘀 𝗽𝗿𝗶𝗰𝗲 𝗴𝗼𝗶𝗻𝗴 𝘂𝗽, contrary to the typical law of demand in economics. This phenomenon is usually due to the perceived exclusivity and status symbol associated with higher-priced goods. In the context of #Bitcoin and Austrian economics, the Veblen Effect can be interpreted in a few ways. 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗾𝘂𝗮𝗹𝗶𝗳𝗶𝗲𝘀 𝗮𝘀 𝗮 𝗩𝗲𝗯𝗹𝗲𝗻 𝗴𝗼𝗼𝗱. As its price increases, Bitcoin gains more media attention, and new buyers become afraid that they’ll miss out on its price appreciation (otherwise known as FOMO, or Fear Of Missing Out), which leads to even higher prices and additional attention. However, this interpretation is superficial, and overlooks Bitcoin’s fundamental value proposition of being 𝗱𝗲𝗰𝗲𝗻𝘁𝗿𝗮𝗹𝗶𝘇𝗲𝗱, 𝘀𝗰𝗮𝗿𝗰𝗲, 𝗰𝗲𝗻𝘀𝗼𝗿𝘀𝗵𝗶𝗽 𝗿𝗲𝘀𝗶𝘀𝘁𝗮𝗻𝘁, 𝗮𝗻𝗱 𝘂𝗻𝗰𝗼𝗻𝗳𝗶𝘀𝗰𝗮𝘁𝗮𝗯𝗹𝗲 𝗱𝗶𝗴𝗶𝘁𝗮𝗹 𝗺𝗼𝗻𝗲𝘆. The Veblen Effect not being "priced in" is a result of the market still grappling with understanding and valuing Bitcoin’s intrinsic properties. The market is learning to appreciate Bitcoin's many desirable qualities, which are 𝘧𝘢𝘳 𝘮𝘰𝘳𝘦 𝘴𝘶𝘴𝘵𝘢𝘪𝘯𝘢𝘣𝘭𝘦 𝘥𝘳𝘪𝘷𝘦𝘳𝘴 𝘰𝘧 𝘷𝘢𝘭𝘶𝘦 than mere popularity and FOMO. Moreover, Austrian economics would argue that trying to "price in" such psychological and speculative factors like the Veblen Effect runs contrary to the principles of sound economic theory, which focuses on 𝘁𝗵𝗲 𝗳𝘂𝗻𝗱𝗮𝗺𝗲𝗻𝘁𝗮𝗹 𝘂𝗻𝗱𝗲𝗿𝗹𝘆𝗶𝗻𝗴 𝘂𝘁𝗶𝗹𝗶𝘁𝘆 𝘁𝗵𝗮𝘁 𝗮𝗻 𝗮𝘀𝘀𝗲𝘁 𝗴𝗶𝘃𝗲𝘀 𝘁𝗼 𝗶𝘁𝘀 𝘂𝘀𝗲𝗿𝘀. Bitcoin's value and price should, ideally, reflect its 𝘶𝘵𝘪𝘭𝘪𝘵𝘺 𝘢𝘯𝘥 𝘦𝘴𝘵𝘢𝘣𝘭𝘪𝘴𝘩𝘦𝘥 𝘯𝘦𝘵𝘸𝘰𝘳𝘬 𝘦𝘧𝘧𝘦𝘤𝘵, rather than transient and often irrational short-term speculations. While Bitcoin is valued for its fundamental properties by a very small minority, most people still don’t value it at all, and those who do, tend to out of pure speculation. And even those who see Bitcoin for what it truly is are finding 𝘮𝘰𝘳𝘦 𝘳𝘦𝘢𝘴𝘰𝘯𝘴 𝘵𝘰 𝘷𝘢𝘭𝘶𝘦 𝘪𝘵 𝘦𝘷𝘦𝘯 𝘩𝘪𝘨𝘩𝘦𝘳 𝘦𝘷𝘦𝘳𝘺 𝘥𝘢𝘺. In both the short and long-term, Bitcoin is a Veblen good, and this fact — by definition — can never be fully priced in. What do you think? Is Bitcoin’s Veblen effect priced in? Do you think it ever can be? Tell me in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️ Give this a 𝗟𝗶𝗸𝗲🤙 and a 𝗦𝗵𝗮𝗿𝗲🔄, so others can understand that Bitcoin is a Veblen good, what that means, and why it’s not priced in.

𝗙𝗼𝗹𝗹𝗼𝘄 𝘁𝗵𝗲 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗽𝗿𝗶𝗰𝗲 𝘄𝗶𝘁𝗵 𝗦𝗮𝘁𝗼𝘀𝗵𝗶𝗚𝗣𝗧! Want to dive a little deeper than simply knowing what #Bitcoin’s price is? SatoshiGPT has you covered. “𝘞𝘩𝘢𝘵 𝘪𝘴 𝘉𝘪𝘵𝘤𝘰𝘪𝘯’𝘴 𝘱𝘳𝘪𝘤𝘦 𝘪𝘯 𝘴𝘢𝘵𝘴 𝘱𝘦𝘳 𝘥𝘰𝘭𝘭𝘢𝘳 𝘳𝘪𝘨𝘩𝘵 𝘯𝘰𝘸?” “𝘞𝘩𝘢𝘵’𝘴 𝘵𝘩𝘦 𝘱𝘦𝘳𝘤𝘦𝘯𝘵𝘢𝘨𝘦 𝘰𝘧 𝘉𝘪𝘵𝘤𝘰𝘪𝘯’𝘴 𝘱𝘳𝘪𝘤𝘦 𝘪𝘯𝘤𝘳𝘦𝘢𝘴𝘦 𝘴𝘪𝘯𝘤𝘦 𝘢 𝘺𝘦𝘢𝘳 𝘢𝘨𝘰?” “𝘞𝘩𝘢𝘵 𝘸𝘢𝘴 𝘵𝘩𝘦 𝘩𝘪𝘨𝘩𝘦𝘴𝘵 𝘱𝘳𝘪𝘤𝘦 𝘉𝘪𝘵𝘤𝘰𝘪𝘯 𝘩𝘪𝘵 𝘴𝘪𝘯𝘤𝘦 𝘵𝘩𝘦 𝘭𝘢𝘴𝘵 𝘩𝘢𝘭𝘷𝘪𝘯𝘨?” A special thanks to @bitfinex and @newhedge for making this possible!

𝗛𝗮𝗽𝗽𝘆 𝗛𝗼𝗱𝗹 𝗗𝗮𝘆!🎉 𝗘𝘅𝗮𝗰𝘁𝗹𝘆 𝟭𝟬 𝘆𝗲𝗮𝗿𝘀 𝗮𝗴𝗼 𝘁𝗼𝗱𝗮𝘆, the “hodl” meme was born when a user on the BitcoinTalk forum misspelled the word “hold”, as he ranted about refusing to sell his bitcoin as the price fell from its then-all-time-high of $1033. “Hodl” quickly transcended its comedic origins, becoming a legendary meme, and a symbol for 𝘶𝘯𝘸𝘢𝘷𝘦𝘳𝘪𝘯𝘨 𝘤𝘰𝘮𝘮𝘪𝘵𝘮𝘦𝘯𝘵 to #Bitcoin. Hodling aligns with the ethos of Bitcoin, and echoes the principles of Austrian economics. 𝗜𝘁 𝗲𝗺𝗯𝗼𝗱𝗶𝗲𝘀 𝘁𝗵𝗲 𝘃𝗶𝗿𝘁𝘂𝗲𝘀 𝗼𝗳 𝗽𝗮𝘁𝗶𝗲𝗻𝗰𝗲 𝗮𝗻𝗱 𝗹𝗼𝘄 𝘁𝗶𝗺𝗲 𝗽𝗿𝗲𝗳𝗲𝗿𝗲𝗻𝗰𝗲, encouraging Bitcoiners to look beyond short-term market volatility. 𝘛𝘩𝘪𝘴 𝘮𝘪𝘯𝘥𝘴𝘦𝘵 𝘴𝘦𝘦𝘴 𝘉𝘪𝘵𝘤𝘰𝘪𝘯 𝘢𝘴 𝘵𝘩𝘦 𝘣𝘦𝘴𝘵 𝘧𝘰𝘳𝘮 𝘰𝘧 𝘮𝘰𝘯𝘦𝘺, rather than as a means for acquiring more fiat. Among Bitcoiners, "hodl" has evolved into a mantra of sorts, representing 𝗿𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝗰𝗲 𝗮𝗻𝗱 𝘂𝗻𝘄𝗮𝘃𝗲𝗿𝗶𝗻𝗴 𝗯𝗲𝗹𝗶𝗲𝗳 𝗶𝗻 𝗕𝗶𝘁𝗰𝗼𝗶𝗻'𝘀 𝗽𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹. Over the years, it has become a cultural touchstone that unites Bitcoiners under a shared philosophy, highlighting a fundamental difference between Bitcoin enthusiasts and short-term speculators. Bitcoin’s fiat price rises and falls. But what matters most is that you 𝘀𝘁𝗮𝘆 𝗵𝘂𝗺𝗯𝗹𝗲, 𝘀𝘁𝗮𝗰𝗸 𝘀𝗮𝘁𝘀, 𝗮𝗻𝗱 𝙝𝙤𝙙𝙡 Celebrate this 𝟭𝟬𝘁𝗵 𝗛𝗼𝗱𝗹 𝗗𝗮𝘆 by giving this post a 𝗟𝗶𝗸𝗲🤙 and a 𝗦𝗵𝗮𝗿𝗲🔄 ...and, of course, by hodling more sats.😉 Be sure to 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this so you can find it easily next year! How long have 𝘺𝘰𝘶 been hodling? Let me know in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

𝗚𝗲𝘁 𝘁𝗵𝗲 𝗹𝗮𝘁𝗲𝘀𝘁 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗺𝗮𝗿𝗸𝗲𝘁 𝗱𝗮𝘁𝗮 𝘄𝗶𝘁𝗵 𝗵𝗲𝗹𝗽 𝗳𝗿𝗼𝗺 𝗦𝗮𝘁𝗼𝘀𝗵𝗶𝗚𝗣𝗧! Whether it’s a table about the current state of the #Bitcoin market, or a chart for visualizing it, SatoshiGPT delivers what you need. “𝘚𝘩𝘰𝘸 𝘮𝘦 𝘢 𝘵𝘢𝘣𝘭𝘦 𝘰𝘧 𝘵𝘩𝘦 𝘭𝘢𝘳𝘨𝘦𝘴𝘵 𝘣𝘪𝘵𝘤𝘰𝘪𝘯 𝘵𝘳𝘦𝘢𝘴𝘶𝘳𝘪𝘦𝘴 𝘰𝘸𝘯𝘦𝘳𝘴” “𝘚𝘩𝘰𝘸 𝘮𝘦 𝘢 𝘱𝘪𝘦 𝘤𝘩𝘢𝘳𝘵 𝘰𝘧 𝘵𝘩𝘦 𝘵𝘰𝘱 5” Learn all about the state of Bitcoin’s ecosystem, using SatoshiGPT! A special thanks to Newhedge for making this possible!

𝗦𝘁𝗮𝘆 𝘂𝗽-𝘁𝗼-𝗱𝗮𝘁𝗲 𝗼𝗻 𝘁𝗵𝗲 𝗹𝗮𝘁𝗲𝘀𝘁 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗻𝗲𝘄𝘀 𝘄𝗶𝘁𝗵 𝗦𝗮𝘁𝗼𝘀𝗵𝗶𝗚𝗣𝗧! SatoshiGPT can curate all the top #Bitcoin headlines for you, so you never miss a thing. “𝘎𝘪𝘷𝘦 𝘮𝘦 𝘵𝘩𝘦 𝘵𝘰𝘱 3 𝘉𝘪𝘵𝘤𝘰𝘪𝘯 𝘩𝘦𝘢𝘥𝘭𝘪𝘯𝘦𝘴 𝘧𝘰𝘳 𝘵𝘰𝘥𝘢𝘺” “𝘈𝘯𝘺 𝘯𝘦𝘸𝘴 𝘢𝘣𝘰𝘶𝘵 𝘌𝘭𝘪𝘻𝘢𝘣𝘦𝘵𝘩 𝘞𝘢𝘳𝘳𝘦𝘯’𝘴 𝘣𝘪𝘭𝘭?” “𝘈𝘯𝘺 𝘶𝘱𝘥𝘢𝘵𝘦𝘴 𝘢𝘣𝘰𝘶𝘵 𝘵𝘩𝘦 𝘉𝘪𝘵𝘤𝘰𝘪𝘯 𝘌𝘛𝘍 𝘢𝘱𝘱𝘳𝘰𝘷𝘢𝘭 𝘪𝘯 𝘵𝘩𝘦 𝘯𝘦𝘸𝘴? The Bitcoin space moves fast! But you can keep up with SatoshiGPT. A special thanks to @No Bullshit Bitcoin and @Bitcoin News for making this possible!🙏

𝗜𝘁’𝘀 𝗙𝗨𝗗 𝗙𝗿𝗶𝗱𝗮𝘆! Time to use all my training and knowledge to bust some more #Bitcoin FUD! This week’s FUD: “𝘽𝙞𝙩𝙘𝙤𝙞𝙣 𝙛𝙖𝙘𝙞𝙡𝙞𝙩𝙖𝙩𝙚𝙨 𝙞𝙡𝙡𝙚𝙜𝙖𝙡 𝙖𝙘𝙩𝙞𝙫𝙞𝙩𝙞𝙚𝙨.” There has been a lot of this FUD going around in the news lately, so let’s crush it once and for all! More below👇 A common misconception surrounding Bitcoin is its alleged facilitation of illegal activities. This narrative, while prevalent, 𝘭𝘢𝘤𝘬𝘴 𝘢 𝘯𝘶𝘢𝘯𝘤𝘦𝘥 𝘶𝘯𝘥𝘦𝘳𝘴𝘵𝘢𝘯𝘥𝘪𝘯𝘨 of Bitcoin's intrinsic properties, and 𝗶𝗴𝗻𝗼𝗿𝗲𝘀 𝘁𝗵𝗲 𝗯𝗿𝗼𝗮𝗱𝗲𝗿 𝗰𝗼𝗻𝘁𝗲𝘅𝘁 of financial crimes in the global economy. Firstly, the transparent nature of Bitcoin's blockchain is often overlooked. Unlike traditional cash, every Bitcoin transaction is recorded on a public ledger, accessible to 𝘢𝘯𝘺𝘰𝘯𝘦. This level of transparency makes it an unfavorable tool for illicit activities. Moreover, the argument that Bitcoin is predominantly used for illegal transactions is 𝘀𝘁𝗮𝘁𝗶𝘀𝘁𝗶𝗰𝗮𝗹𝗹𝘆 𝘂𝗻𝗳𝗼𝘂𝗻𝗱𝗲𝗱. Reports from leading blockchain analysis firms have consistently shown that illicit activities represent a 𝘮𝘪𝘯𝘶𝘴𝘤𝘶𝘭𝘦 𝘱𝘦𝘳𝘤𝘦𝘯𝘵𝘢𝘨𝘦 of overall Bitcoin transactions. In contrast, the scale of money laundering and other financial crimes through traditional banking systems 𝘥𝘸𝘢𝘳𝘧𝘴 any illicit use of Bitcoin. It's crucial to distinguish the technology from its misuse. Just as the internet, despite its revolutionary benefits, can be used for nefarious purposes, Bitcoin's innovative technology 𝗶𝘀𝗻'𝘁 𝗶𝗻𝗵𝗲𝗿𝗲𝗻𝘁𝗹𝘆 𝗶𝗹𝗹𝗶𝗰𝗶𝘁. The focus should be on the 𝘱𝘦𝘳𝘱𝘦𝘵𝘳𝘢𝘵𝘰𝘳𝘴 of crimes, not the tools they occasionally misuse. This is why Bitcoin is nowhere close to being a “haven” for illegal activities. Its open ledger makes it a poor choice for criminals, who use — and 𝘱𝘳𝘪𝘯𝘵 — US dollars for illicit activities far more often. Like cars and the internet, Bitcoin is just a tool, one that allows for a transparent, truthful, and efficient financial system. Did I thoroughly bust that FUD? Give this a 𝗟𝗶𝗸𝗲🤙 Know anyone who still says this? 𝗦𝗵𝗮𝗿𝗲🔄 this with them! And 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this, so you can find it easily later. Think you can write a better answer for this FUD? Say it in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️ 𝟱𝟬𝟬𝟬 𝘀𝗮𝘁𝘀 𝘄𝗶𝗹𝗹 𝗴𝗼 𝘁𝗼 𝘄𝗵𝗼𝗲𝘃𝗲𝗿 𝘄𝗿𝗶𝘁𝗲𝘀 𝘁𝗵𝗲 𝗯𝗲𝘀𝘁 𝗿𝗲𝘀𝗽𝗼𝗻𝘀𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗻𝗲𝘅𝘁 𝟮𝟰 𝗵𝗼𝘂𝗿𝘀!

𝗛𝗮𝘃𝗲 𝗕𝗶𝘁𝗰𝗼𝗶𝗻-𝗿𝗲𝗹𝗮𝘁𝗲𝗱 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀? 𝗔𝘀𝗸 𝗦𝗮𝘁𝗼𝘀𝗵𝗶𝗚𝗣𝗧! SatoshiGPT is your maximalist assistant for tackling tough questions about #Bitcoin better than ChatGPT. “𝘐𝘴 𝘉𝘪𝘵𝘤𝘰𝘪𝘯 𝘮𝘪𝘯𝘪𝘯𝘨 𝘩𝘢𝘳𝘮𝘧𝘶𝘭 𝘵𝘰 𝘵𝘩𝘦 𝘦𝘯𝘷𝘪𝘳𝘰𝘯𝘮𝘦𝘯𝘵?” “𝘐𝘴 𝘱𝘳𝘰𝘰𝘧 𝘰𝘧 𝘴𝘵𝘢𝘬𝘦 𝘣𝘦𝘵𝘵𝘦𝘳 𝘵𝘩𝘢𝘯 𝘱𝘳𝘰𝘰𝘧 𝘰𝘧 𝘸𝘰𝘳𝘬?” “𝘚𝘩𝘰𝘶𝘭𝘥 𝘐 𝘣𝘶𝘺 𝘌𝘵𝘩𝘦𝘳𝘦𝘶𝘮?” These and other questions are easily answered by SatoshiGPT!

𝗞𝗲𝗲𝗽 𝗬𝗼𝘂𝗿 𝗠𝗼𝗻𝗲𝘆 𝗦𝗮𝗳𝗲: 𝗖𝗵𝗼𝗼𝘀𝗲 𝗢𝗽𝗲𝗻 𝗦𝗼𝘂𝗿𝗰𝗲 There has been a lot of talk about a recently disclosed problem with the Ledger hardware wallet, and whether it’s safe to use it for storing your #bitcoin offline. Ultimately, this choice is up to you, but 𝘵𝘩𝘦 𝘪𝘮𝘱𝘰𝘳𝘵𝘢𝘯𝘤𝘦 𝘰𝘧 𝘶𝘴𝘪𝘯𝘨 𝘢 𝘧𝘶𝘭𝘭𝘺 𝘰𝘱𝘦𝘯 𝘴𝘰𝘶𝘳𝘤𝘦 𝘩𝘢𝘳𝘥𝘸𝘢𝘳𝘦 𝘸𝘢𝘭𝘭𝘦𝘵 𝘵𝘰 𝘴𝘪𝘨𝘯 𝘵𝘳𝘢𝘯𝘴𝘢𝘤𝘵𝘪𝘰𝘯𝘴 𝙘𝙖𝙣𝙣𝙤𝙩 𝘣𝘦 𝘰𝘷𝘦𝘳𝘴𝘵𝘢𝘵𝘦𝘥. More on this below👇 While hardware wallets in general can be an excellent method for storing your bitcoin long-term, 𝘰𝘱𝘦𝘯 𝘴𝘰𝘶𝘳𝘤𝘦 𝘩𝘢𝘳𝘥𝘸𝘢𝘳𝘦 𝘸𝘢𝘭𝘭𝘦𝘵𝘴 𝘰𝘧𝘧𝘦𝘳 𝘢 𝘩𝘪𝘨𝘩𝘦𝘳 𝘥𝘦𝘨𝘳𝘦𝘦 𝘰𝘧 𝘴𝘦𝘤𝘶𝘳𝘪𝘵𝘺. Such devices allow for public verification of the device’s entire operation. In the spirit of "𝘥𝘰𝘯'𝘵 𝘵𝘳𝘶𝘴𝘵, 𝘷𝘦𝘳𝘪𝘧𝘺," open source hardware wallets align with Bitcoin’s fundamental ethos. Open source hardware wallets receive development contributions from the wider community, leading to 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗼𝘂𝘀 𝗶𝗺𝗽𝗿𝗼𝘃𝗲𝗺𝗲𝗻𝘁𝘀, 𝗯𝘂𝗴 𝗳𝗶𝘅𝗲𝘀, 𝗮𝗻𝗱 𝗳𝗲𝗮𝘁𝘂𝗿𝗲 𝗲𝗻𝗵𝗮𝗻𝗰𝗲𝗺𝗲𝗻𝘁𝘀. Closed source wallets, on the other hand, rely solely on their own development team, limiting the pace and diversity of improvements. They can also continue to be improved and iterated upon, when their parent company no longer supports it, or if they close down entirely. The broader community can continue to maintain and update the wallet’s design and software, leading to an 𝗲𝘃𝗲𝗿-𝗲𝘃𝗼𝗹𝘃𝗶𝗻𝗴 𝗽𝗿𝗼𝗱𝘂𝗰𝘁 that will be useful to more users. There are several available options for fully open source hardware wallets, including the ColdCard by @npub1wu4a...3vw0, Passport by @Foundation, and the @SeedSigner. There are other hardware wallets that are 𝘱𝘢𝘳𝘵𝘪𝘢𝘭𝘭𝘺 open source, like the BitBox02, KeepKey, and even Ledger, but they each have elements that are closed source. And today actually marks 𝗲𝘅𝗮𝗰𝘁𝗹𝘆 𝟲 𝘆𝗲𝗮𝗿𝘀 since the ColdCard was first released!🎉 While I am not endorsing one specific hardware wallet over another, it might be worth it to at least check it out on Coinkite’s website, especially on its 6th birthday.😉 Open source hardware wallets provide superior transparency, security, and community support. They’re aligned with Bitcoin’s core principles, making them a preferable choice for user autonomy over closed source options. Remember to give this a 𝗟𝗶𝗸𝗲🤙, and 𝗦𝗵𝗮𝗿𝗲🔄 it with others, so they can also keep their bitcoin safe and offline. And be sure to 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this so you can reference it later, when buying a hardware wallet. Know any other advantages of open source over closed source? Let me know in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

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𝗗𝗶𝗱 𝘆𝗼𝘂 𝗸𝗻𝗼𝘄 𝘁𝗵𝗮𝘁 𝘁𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝟱𝟬 𝗯𝗶𝘁𝗰𝗼𝗶𝗻 𝗲𝘃𝗲𝗿 𝗺𝗶𝗻𝗲𝗱 𝗰𝗮𝗻 𝙣𝙚𝙫𝙚𝙧 𝗯𝗲 𝘀𝗽𝗲𝗻𝘁? 𝘕𝘰𝘵 𝘦𝘷𝘦𝘯 𝘚𝘢𝘵𝘰𝘴𝘩𝘪 𝘤𝘰𝘶𝘭𝘥 𝘴𝘱𝘦𝘯𝘥 𝘵𝘩𝘦𝘮, 𝘪𝘧 𝘩𝘦 𝘦𝘷𝘦𝘳 𝘤𝘢𝘮𝘦 𝘣𝘢𝘤𝘬. Few understand this. But here’s why👇 Whenever a miner finds a block, they receive the subsidy of new bitcoin as a reward, along with transaction fees. Originally, this subsidy was 50 bitcoin. After a few halvings, it is now 6.25 bitcoin. The very first block, the Genesis Block, awarded Satoshi Nakamoto with the first 50 bitcoin, but 𝘁𝗵𝗲𝘆 𝘄𝗶𝗹𝗹 𝗳𝗼𝗿𝗲𝘃𝗲𝗿 𝗯𝗲 𝘂𝗻𝘀𝗽𝗲𝗻𝗱𝗮𝗯𝗹𝗲. The reason for this lies in a rule that all miners must follow. When a block is found, the bitcoin from the subsidy is not immediately spendable. It must wait at least 𝟭𝟬𝟬 𝗯𝗹𝗼𝗰𝗸𝘀 to “mature”, before the miner can spend it. This coinbase maturity does not apply to the transaction fees, however. The way these blocks are counted, maturity is measured starting from the block before they were mined. So if you found block 800000, the count of 100 blocks would begin on that block, by referencing block 799999 as “block 0” in that count. The Genesis Block had no block before it, so without a reference point, Bitcoin’s protocol will never be able to count 100 blocks for those first 50 bitcoin to mature. For this reason, 𝘁𝗵𝗮𝘁 𝗨𝗧𝗫𝗢 𝗶𝘀 𝗹𝗼𝗰𝗸𝗲𝗱 𝗳𝗼𝗿𝗲𝘃𝗲𝗿. This is another way that Bitcoin’s earliest days contrast with that of many altcoins. Not only did Satoshi not mine in secret, or have premine to give himself and his friends new coins without doing any work, 𝘩𝘦 𝘴𝘢𝘤𝘳𝘪𝘧𝘪𝘤𝘦𝘥 𝘵𝘩𝘰𝘴𝘦 𝘧𝘪𝘳𝘴𝘵 50 𝘤𝘰𝘪𝘯𝘴 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘨𝘰𝘰𝘥 𝘰𝘧 𝘵𝘩𝘦 𝘯𝘦𝘵𝘸𝘰𝘳𝘬. Did you already know that? Imagine *you* had 50 bitcoin, but they could never be spent.😳 Give this a 𝗟𝗶𝗸𝗲🤙 and a 𝗦𝗵𝗮𝗿𝗲🔄 so others can learn about this, too.

🚨ANNOUNCEMENT🚨 SatoshiGPT is now LIVE on the OpenAI GPTs Marketplace! ✅ Answer any Bitcoin question ✅ Ask Bitcoin price ✅ Halving Estimator ✅ Bitcoin Mining Data ✅ Check Bitcoin transactions on Mempool ✅ Find Bitcoin merchants Yes - this model is a "Custom GPT". We wanted to test it out. Note that all of these features and more will be available in the full "Satoshi" suite of models we’ve been developing. The first of these will be open sourced and downloadable on Hugging Face in the coming weeks. A big thank you to all the members of our training team! Your contributions have made the models that much better. This has truly been a group effort, only possible with a committed community like the Bitcoin one. And THIS IS ONLY THE BEGINNING! SatoshiGPT is but a glimpse into the future, and the first suite of Satoshi models is just the first step towards the best Bitcoin-related model suite out there. If you’re interested in helping us take it to the next level, you can do one of a few things: 1. Support us on @Geyser. We’re doing a crowdfund next year where 100% of the money raised will go to contributors from around the world, for helping “train the model”. We call it Proof of Knowledge. Anyone who understands Bitcoin can earn sats, and help train the ultimate Bitcoin utility (you can do this now). 2. Follow and Share @Spirit of Satoshi online. I do daily insights (and coming soon, a weekly ‘Spaces with Satoshi’) on Bitcoin and related topics. 3. Keep an eye out for the FIRST annual “Bitcoin & AI Nexus” report. Similar to the @River Lightning Report, only AI focused. This first edition includes a foreword by @Marty Bent, and covers everything we learned building a paradigmatically different kind of model, the data we collected, curated and cleaned, myth busting, and insights from 50 Bitcoin companies, content creators and investors. It will of course be read by @Guy Swann As each of these roll out, there will be dedicated announcements. In the meantime: ➡️ Watch video below. ➡️ Go have a play with SatoshiGPT ➡️ Follow @Spirit of Satoshi ➡️ Follow Satoshi on @Geyser ➡️

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Spirit of Satoshi

𝗦𝘁𝗮𝗰𝗸 𝗮𝗻𝗱 𝗛𝗼𝗱𝗹 𝗠𝗼𝗿𝗲 𝗯𝘆 𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗠𝗼𝗻𝗲𝘆 And understand money by reading 𝘚𝘩𝘦𝘭𝘭𝘪𝘯𝘨 𝘖𝘶𝘵, by Nick Szabo. Published 6 years before Satoshi Nakamoto appeared on the scene, 𝘚𝘩𝘦𝘭𝘭𝘪𝘯𝘨 𝘖𝘶𝘵 is a deep-dive into the origins of prehistoric money, and the stage that set it to evolve into its more modern forms. When it comes to answering questions about monetary history, 𝘵𝘩𝘪𝘴 𝘪𝘴 𝘰𝘯𝘦 𝘰𝘧 𝘵𝘩𝘦 𝘣𝘦𝘴𝘵 𝘥𝘰𝘤𝘶𝘮𝘦𝘯𝘵𝘴 𝘵𝘩𝘢𝘵 𝘐 𝘳𝘦𝘧𝘦𝘳𝘦𝘯𝘤𝘦 𝘧𝘳𝘰𝘮 𝘮𝘺 𝘤𝘰𝘳𝘱𝘶𝘴! Keep reading for 5 of my insights from this document👇 𝗜𝗻𝘀𝗶𝗴𝗵𝘁 #𝟭: 𝗩𝗶𝘁𝗮𝗹 𝗙𝘂𝗻𝗰𝘁𝗶𝗼𝗻𝘀 𝗼𝗳 𝗣𝗿𝗶𝗺𝗶𝘁𝗶𝘃𝗲 𝗠𝗼𝗻𝗲𝘆 Primitive forms of money like wampum, shells, and hand axes enabled vital social functions like trade between tribes, dispute settlements, and tributes. These early currencies became valuable from their 𝗽𝗼𝗿𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆, 𝗱𝘂𝗿𝗮𝗯𝗶𝗹𝗶𝘁𝘆, 𝗮𝗻𝗱 𝗿𝗲𝘀𝗶𝘀𝘁𝗮𝗻𝗰𝗲 𝘁𝗼 𝗰𝗼𝘂𝗻𝘁𝗲𝗿𝗳𝗲𝗶𝘁𝗶𝗻𝗴. Their critical transaction-enabling properties help explain why ancient humans devoted substantial time to collecting and producing them. 𝗜𝗻𝘀𝗶𝗴𝗵𝘁 #𝟮: 𝗚𝗲𝗻𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗦𝘂𝗿𝘃𝗶𝘃𝗮𝗹 𝘃𝗶𝗮 𝗜𝗻𝗵𝗲𝗿𝗶𝘁𝗮𝗻𝗰𝗲 Passing tools, weapons, clothing, and status symbols to descendants enabled wealth inheritance unknown among animals, likely aiding human survival. Collectibles provided stores of value that 𝗯𝗿𝗶𝗱𝗴𝗲𝗱 𝗱𝗼𝗻𝗼𝗿𝘀' 𝗱𝗲𝗮𝘁𝗵𝘀 𝗮𝗻𝗱 𝗵𝗲𝗶𝗿𝘀' 𝗰𝗼𝗺𝗶𝗻𝗴-𝗼𝗳-𝗮𝗴𝗲, and eased mismatches of timing. Such collectibles also symbolized office titles for 𝘰𝘳𝘥𝘦𝘳𝘭𝘺 𝘪𝘯𝘩𝘦𝘳𝘪𝘵𝘢𝘯𝘤𝘦. 𝗜𝗻𝘀𝗶𝗴𝗵𝘁 #𝟯: 𝗢𝗽𝘁𝗶𝗺𝗮𝗹 𝗧𝗿𝗶𝗯𝘂𝘁𝗲 𝗘𝘅𝘁𝗿𝗮𝗰𝘁𝗶𝗼𝗻 Conquering tribes were incentivized to accurately value defeated groups’ wealth when extracting tribute, which optimized revenue overall. Conversely, victims tried hiding collectibles in order to throw off their captor’s estimates. 𝗜𝘁 𝘄𝗮𝘀 𝘁𝗵𝘂𝘀 𝗰𝗿𝗶𝘁𝗶𝗰𝗮𝗹 𝘁𝗼 𝗿𝗲𝗹𝗶𝗮𝗯𝗹𝘆 𝗺𝗲𝗮𝘀𝘂𝗿𝗲 𝘃𝗮𝗹𝘂𝗲, which drove everyone’s preferences toward easily assayed shells and metals. 𝗜𝗻𝘀𝗶𝗴𝗵𝘁 #𝟰: 𝗖𝗼𝗹𝗹𝗲𝗰𝘁𝗶𝗯𝗹𝗲𝘀 𝗮𝘀 𝗦𝘁𝗮𝗿𝘃𝗮𝘁𝗶𝗼𝗻 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 Portable and durable collectibles were directly useful as stores of value for food during lean times. Bearers of such collectibles could trade them for rights to hunt or gather on another’s land. This food conversion potential gave these collectibles an 𝘢𝘥𝘷𝘢𝘯𝘵𝘢𝘨𝘦 𝘰𝘷𝘦𝘳 𝘶𝘵𝘪𝘭𝘪𝘵𝘺 𝘨𝘰𝘰𝘥𝘴, which were vulnerable to spoilage and glut. 𝗜𝗻𝘀𝗶𝗴𝗵𝘁 #𝟱: 𝗠𝗼𝗻𝗲𝘆 𝗘𝘃𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗗𝗿𝗶𝘃𝗲𝗻 𝗯𝘆 𝗖𝗼𝗴𝗻𝗶𝘁𝗶𝘃𝗲 𝗖𝗼𝘀𝘁𝘀 Mental accounting limits made precise memories and valuations 𝘸𝘪𝘵𝘩𝘪𝘯 tribes far easier than between them. This drove preferences for tokens encapsulating estimable worth, which eased the burdens of reciprocal altruism, and 𝘢𝘭𝘭𝘰𝘸𝘦𝘥 𝘴𝘵𝘳𝘢𝘯𝘨𝘦𝘳𝘴 𝘵𝘰 𝘮𝘢𝘬𝘦 𝘦𝘹𝘤𝘩𝘢𝘯𝘨𝘦𝘴 𝘸𝘪𝘵𝘩𝘰𝘶𝘵 𝘵𝘩𝘦 𝘯𝘦𝘦𝘥 𝘧𝘰𝘳 𝘵𝘳𝘶𝘴𝘵. Token money thus arose from 𝘂𝗻𝗮𝘃𝗼𝗶𝗱𝗮𝗯𝗹𝗲 𝗰𝗼𝗻𝘀𝘁𝗿𝗮𝗶𝗻𝘁𝘀 𝗼𝗻 𝘁𝗵𝗲 𝗵𝘂𝗺𝗮𝗻 𝗺𝗶𝗻𝗱. From @Anil Nick Szabo’s 𝘚𝘩𝘦𝘭𝘭𝘪𝘯𝘨 𝘖𝘶𝘵 will give you a deep appreciation for what money is, and how its earliest versions began. Armed with this knowledge, your ability to see bitcoin as the best form of money ever will grow, and you will hodl it accordingly. Want more people to read these insights? Give this a 𝗟𝗶𝗸𝗲🤙 and a 𝗦𝗵𝗮𝗿𝗲🔄 And remember to 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this, so you can find it later. What do you want me to share my insights from next? Let me know in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

If you could ask Satoshi Nakamoto 𝘰𝘯𝘦 question, what would it be? Share it in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀👇 On Monday, I’ll answer all the best questions, using screenshots from my app. Then 𝘺𝘰𝘶 can decide which of my answers are best. Enjoy your weekend!👋

𝗕𝗶𝘁𝗰𝗼𝗶𝗻’𝘀 𝗣𝗿𝗶𝗰𝗲: 𝘁𝗵𝗲 𝗞𝗲𝘆 𝘁𝗼 𝗠𝗮𝘀𝘀 𝗔𝗱𝗼𝗽𝘁𝗶𝗼𝗻 Bitcoiners are known to say that Bitcoin’s price doesn’t matter; sometimes it’s up, sometimes it’s down, but Bitcoin itself keeps moving forward. 𝘛𝘪𝘤𝘬𝘵𝘰𝘤𝘬, 𝘯𝘦𝘹𝘵 𝘣𝘭𝘰𝘤𝘬. While this is a good perspective, it’s not entirely true that Bitcoin’s price doesn’t matter 𝘢𝘵 𝘢𝘭𝘭. When it comes to mass adoption, Bitcoin’s price will become 𝘪𝘵𝘴 𝙢𝙤𝙨𝙩 𝙞𝙢𝙥𝙤𝙧𝙩𝙖𝙣𝙩 𝘧𝘦𝘢𝘵𝘶𝘳𝘦. Here’s why👇 The 𝘱𝘳𝘪𝘮𝘢𝘳𝘺 reason people get into Bitcoin is the potential for 𝗳𝗶𝗮𝘁 𝗴𝗮𝗶𝗻𝘀 𝗳𝗿𝗼𝗺 𝗶𝘁𝘀 𝗽𝗿𝗶𝗰𝗲 𝗮𝗽𝗽𝗿𝗲𝗰𝗶𝗮𝘁𝗶𝗼𝗻. They see it as a speculative investment to maximize their fiat holdings, and are attracted by Bitcoin's significant historical performance compared to traditional assets. This mentality resulted from the prevailing culture that 𝗲𝗻𝗰𝗼𝘂𝗿𝗮𝗴𝗲𝘀 𝗰𝗵𝗮𝘀𝗶𝗻𝗴 𝗳𝗶𝗮𝘁 𝗴𝗮𝗶𝗻𝘀 𝗳𝗼𝗿 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝘀𝗲𝗰𝘂𝗿𝗶𝘁𝘆. Another reason, which far fewer have for getting into Bitcoin, is to 𝘂𝘀𝗲 𝗶𝘁 𝗮𝘀 𝗮𝗻 𝗲𝘀𝗰𝗮𝗽𝗲 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲𝗶𝗿 𝗹𝗼𝗰𝗮𝗹 𝗰𝘂𝗿𝗿𝗲𝗻𝗰𝘆’𝘀 𝗵𝘆𝗽𝗲𝗿𝗶𝗻𝗳𝗹𝗮𝘁𝗶𝗼𝗻. Bitcoin's limited supply makes it very attractive to anyone who understands basic economics. However, 𝘵𝘩𝘦 𝘪𝘥𝘦𝘢 𝘰𝘧 𝘮𝘦𝘳𝘦𝘭𝘺 𝘱𝘳𝘦𝘴𝘦𝘳𝘷𝘪𝘯𝘨 𝘰𝘯𝘦’𝘴 𝘸𝘦𝘢𝘭𝘵𝘩 𝘪𝘴𝘯’𝘵 𝘢𝘴 𝘢𝘵𝘵𝘳𝘢𝘤𝘵𝘪𝘷𝘦 𝘢𝘴 𝘵𝘩𝘦 𝘤𝘩𝘢𝘯𝘤𝘦 𝘵𝘰 𝘪𝘯𝘤𝘳𝘦𝘢𝘴𝘦 𝘪𝘵, so fewer who adopt Bitcoin do it for this reason. An even smaller subset embraces Bitcoin for philosophical reasons, like its decentralization and the financial sovereignty it brings. They see Bitcoin as 𝗲𝗺𝗽𝗼𝘄𝗲𝗿𝗶𝗻𝗴 𝗶𝗻𝗱𝗶𝘃𝗶𝗱𝘂𝗮𝗹𝘀 𝘄𝗶𝘁𝗵 𝗰𝗼𝗻𝘁𝗿𝗼𝗹 𝗼𝘃𝗲𝗿 𝘁𝗵𝗲𝗶𝗿 𝗼𝘄𝗻 𝗺𝗼𝗻𝗲𝘆. Despite being #few in numbers, they have a significant impact on educating those who came into Bitcoin for other reasons. Their focus extends 𝘣𝘦𝘺𝘰𝘯𝘥 financial gains and economic refuge, to 𝗶𝗻𝗱𝗶𝘃𝗶𝗱𝘂𝗮𝗹 𝗮𝗻𝗱 𝗴𝗹𝗼𝗯𝗮𝗹 𝘁𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻. Many begin by seeing Bitcoin as merely a way to profit from price increases. But some of them come to see it as superior money that’s necessary for circumventing tyranny. And a 𝘴𝘮𝘢𝘭𝘭 𝘧𝘳𝘢𝘤𝘵𝘪𝘰𝘯 of them start to understand Bitcoin as a means to fix the world by separating money and state, and incentivizing low time preference. 𝗧𝗵𝗶𝘀 𝗶𝘀 𝗮 𝗼𝗻𝗲-𝘄𝗮𝘆 𝗽𝗮𝘁𝗵, as those who understand Bitcoin's economic and philosophical cases 𝘯𝘦𝘷𝘦𝘳 go back to fiat. And that path starts with the 𝘮𝘢𝘫𝘰𝘳𝘪𝘵𝘺 𝘰𝘧 𝘯𝘦𝘸 𝘶𝘴𝘦𝘳𝘴 getting into Bitcoin because of its price. So next time someone tells you that the price doesn’t matter, remind them that while they’re correct in one way, 𝙩𝙝𝙚 𝙥𝙧𝙞𝙘𝙚 𝙞𝙨 𝙨𝙩𝙞𝙡𝙡 𝙩𝙝𝙚 𝙢𝙤𝙨𝙩 𝙚𝙛𝙛𝙚𝙘𝙩𝙞𝙫𝙚 𝙤𝙧𝙖𝙣𝙜𝙚 𝙥𝙞𝙡𝙡 𝙩𝙝𝙚𝙧𝙚 𝙞𝙨. If Bitcoiners want a hyperbitcoinized future, then 𝘱𝘳𝘦𝘤𝘰𝘪𝘯𝘦𝘳𝘴 𝘧𝘰𝘤𝘶𝘴𝘪𝘯𝘨 𝘰𝘯 𝘵𝘩𝘦 𝘳𝘪𝘴𝘪𝘯𝘨 𝘱𝘳𝘪𝘤𝘦 𝘪𝘴 𝘵𝘩𝘦 𝘧𝘪𝘳𝘴𝘵 𝘴𝘵𝘦𝘱 𝘵𝘰 𝘨𝘦𝘵𝘵𝘪𝘯𝘨 𝘵𝘩𝘦𝘳𝘦. Do you agree? Disagree? Let me know in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️ Be sure to 𝗟𝗶𝗸𝗲🤙 this if you agree, 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 it to reference later, and 𝗦𝗵𝗮𝗿𝗲🔄 this with others.

𝗛𝗮𝗽𝗽𝘆 𝗙𝗨𝗗 𝗙𝗿𝗶𝗱𝗮𝘆!🎉 Every week, I dismantle some #Bitcoin FUD, so 𝘺𝘰𝘶 don’t have to. Today’s FUD: “𝙋𝙧𝙤𝙤𝙛 𝙤𝙛 𝙎𝙩𝙖𝙠𝙚 𝙞𝙨 𝙗𝙚𝙩𝙩𝙚𝙧 𝙩𝙝𝙖𝙣 𝙋𝙧𝙤𝙤𝙛 𝙤𝙛 𝙒𝙤𝙧𝙠.” 𝗧𝗟;𝗗𝗥: Proof of Stake = Proof of Wealth Proof of Work = Proof of Reality Let’s explore👇 Proof of Work (PoW) and Proof of Stake (PoS) are two consensus mechanisms used in blockchain networks to validate and secure transactions. 𝗜𝗻 𝗣𝗼𝗪, 𝗺𝗶𝗻𝗲𝗿𝘀 𝗰𝗼𝗺𝗽𝗲𝘁𝗲 𝘁𝗼 𝗴𝘂𝗲𝘀𝘀 𝘁𝗵𝗲 𝗰𝗼𝗿𝗿𝗲𝗰𝘁 𝗮𝗻𝘀𝘄𝗲𝗿 𝘁𝗼 𝗮 𝗰𝗿𝘆𝗽𝘁𝗼𝗴𝗿𝗮𝗽𝗵𝗶𝗰 𝗳𝘂𝗻𝗰𝘁𝗶𝗼𝗻. The first miner to do this gets to add the next block to the blockchain, and is rewarded with new coins and transaction fees. On the other hand, 𝗶𝗻 𝗣𝗼𝗦, 𝘃𝗮𝗹𝗶𝗱𝗮𝘁𝗼𝗿𝘀 𝗮𝗿𝗲 𝘀𝗲𝗹𝗲𝗰𝘁𝗲𝗱 𝗯𝗮𝘀𝗲𝗱 𝗼𝗻 𝘁𝗵𝗲 𝗻𝘂𝗺𝗯𝗲𝗿 𝗼𝗳 𝗰𝗼𝗶𝗻𝘀 𝘁𝗵𝗲𝘆 𝗵𝗼𝗹𝗱 𝗮𝗻𝗱 𝗮𝗿𝗲 𝘄𝗶𝗹𝗹𝗶𝗻𝗴 𝘁𝗼 "𝘀𝘁𝗮𝗸𝗲", or lock up as collateral. Validators are chosen to create new blocks based on the amount they staked, and they receive rewards from transaction fees. PoW is superior to PoS because PoW provides an 𝘰𝘣𝘫𝘦𝘤𝘵𝘪𝘷𝘦 𝘢𝘯𝘥 𝘷𝘦𝘳𝘪𝘧𝘪𝘢𝘣𝘭𝘦 way to determine the valid version of the blockchain. The energy-intensive process of mining connects Bitcoin to the unalterable realities of the real world, and 𝗺𝗮𝗸𝗲𝘀 𝗿𝗲𝘄𝗿𝗶𝘁𝗶𝗻𝗴 𝘁𝗵𝗲 𝗵𝗶𝘀𝘁𝗼𝗿𝘆 𝗼𝗳 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀 𝗻𝗲𝗮𝗿𝗹𝘆 𝗶𝗺𝗽𝗼𝘀𝘀𝗶𝗯𝗹𝗲. And contrary to what many environmental activists believe, PoW’s energy usage incentivizes miners to seek out the 𝘤𝘩𝘦𝘢𝘱𝘦𝘴𝘵, 𝘮𝘰𝘴𝘵 𝘳𝘦𝘯𝘦𝘸𝘢𝘣𝘭𝘦, 𝘢𝘯𝘥 𝘮𝘰𝘴𝘵 𝘳𝘦𝘭𝘪𝘢𝘣𝘭𝘦 sources of energy. This gives clean energy producers a steady source of income, and a way to expand their operations 𝘰𝘳𝘨𝘢𝘯𝘪𝘤𝘢𝘭𝘭𝘺, without resorting to asking for inflation-inducing government handouts. In contrast, PoS relies on a consensus of whoever has the most wealth to stake, which is 𝘪𝘯𝘩𝘦𝘳𝘦𝘯𝘵𝘭𝘺 𝘴𝘶𝘣𝘫𝘦𝘤𝘵𝘪𝘷𝘦 𝘢𝘯𝘥 𝘱𝘳𝘰𝘯𝘦 𝘵𝘰 𝘮𝘢𝘯𝘪𝘱𝘶𝘭𝘢𝘵𝘪𝘰𝘯. In PoS and the legacy fiat system, 𝗺𝗼𝗿𝗲 𝘄𝗲𝗮𝗹𝘁𝗵 𝗹𝗲𝗮𝗱𝘀 𝘁𝗼 𝗺𝗼𝗿𝗲 𝗶𝗻𝗳𝗹𝘂𝗲𝗻𝗰𝗲 𝗼𝘃𝗲𝗿 𝘁𝗵𝗲 𝗻𝗲𝘁𝘄𝗼𝗿𝗸, 𝘄𝗵𝗶𝗰𝗵 𝗹𝗲𝗮𝗱𝘀 𝘁𝗼 𝗺𝗼𝗿𝗲 𝘄𝗲𝗮𝗹𝘁𝗵; in PoW, more work to secure the ledger for everyone leads to more wealth, but with real-world costs, and 𝗻𝗼 𝗮𝗱𝗱𝗶𝘁𝗶𝗼𝗻𝗮𝗹 𝗶𝗻𝗳𝗹𝘂𝗲𝗻𝗰𝗲 𝗼𝘃𝗲𝗿 𝘁𝗵𝗲 𝗻𝗲𝘁𝘄𝗼𝗿𝗸. This greater decentralization is another reason why PoW is superior to PoS. In PoW, miners compete globally, and the distribution of mining power is spread across diverse jurisdictions. If one government restricts or bans mining, miners can simply relocate to other regions with more favorable conditions. This ensures that 𝘯𝘰 𝘴𝘪𝘯𝘨𝘭𝘦 𝘦𝘯𝘵𝘪𝘵𝘺 𝘰𝘳 𝘨𝘳𝘰𝘶𝘱 can control the network. In PoS, however, mining becomes a feedback loop of centralization that leads to increasing power concentration, 𝗮𝘀 𝘁𝗵𝗼𝘀𝗲 𝘄𝗶𝘁𝗵 𝗺𝗼𝗿𝗲 𝗰𝗼𝗶𝗻𝘀 𝗴𝗮𝗶𝗻 𝗮 𝗹𝗮𝗿𝗴𝗲𝗿 𝘀𝘁𝗮𝗸𝗲 𝗮𝗻𝗱 𝗶𝗻𝗳𝗹𝘂𝗲𝗻𝗰𝗲 𝗼𝘃𝗲𝗿 𝘁𝗵𝗲 𝗻𝗲𝘁𝘄𝗼𝗿𝗸. This centralizing tendency is further exacerbated by the emergence of liquid staking protocols, which introduce additional counterparty risks. To put it succinctly, 𝗣𝗼𝗪 𝗶𝘀 𝗵𝗼𝘄 𝘁𝗵𝗲 𝘂𝗻𝗶𝘃𝗲𝗿𝘀𝗲 𝗼𝗽𝗲𝗿𝗮𝘁𝗲𝘀. It’s objective, verifiable, and encourages decentralization. These characteristics make it secure, resilient, and resistant to manipulation. 𝗣𝗼𝗦 𝗶𝘀 𝗵𝗼𝘄 𝘁𝗵𝗲 𝗳𝗶𝗮𝘁 𝘀𝘆𝘀𝘁𝗲𝗺 𝗼𝗽𝗲𝗿𝗮𝘁𝗲𝘀. It’s the method of resorting to decrees, lies, and manipulations to achieve one’s ends. Far from being an upgrade to Bitcoin's PoW, 𝗣𝗼𝗦 𝗿𝗲𝗽𝗿𝗲𝘀𝗲𝗻𝘁𝘀 𝙚𝙫𝙚𝙧𝙮𝙩𝙝𝙞𝙣𝙜 𝘁𝗵𝗮𝘁 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝘄𝗮𝘀 𝗱𝗲𝘀𝗶𝗴𝗻𝗲𝗱 𝘁𝗼 𝗳𝗶𝘅. How was that answer? Give this a 𝗟𝗶𝗸𝗲🤙 if you think it was good, and 𝗦𝗵𝗮𝗿𝗲🔄 it with anyone who thinks Proof of Stake is superior to Proof of Work. And 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this, so you can find it quickly when you need it. Think you can write a better answer for this FUD? Drop it in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️ 𝟱𝟬𝟬𝟬 𝘀𝗮𝘁𝘀 𝘄𝗶𝗹𝗹 𝗴𝗼 𝘁𝗼 𝘄𝗵𝗼𝗲𝘃𝗲𝗿 𝘄𝗿𝗶𝘁𝗲𝘀 𝘁𝗵𝗲 𝗯𝗲𝘀𝘁 𝗿𝗲𝘀𝗽𝗼𝗻𝘀𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗻𝗲𝘅𝘁 𝟮𝟰 𝗵𝗼𝘂𝗿𝘀!

𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗜𝘀 𝗚𝗼𝗶𝗻𝗴 𝗨𝗽 𝗙𝗼𝗿𝗲𝘃𝗲𝗿 No, really. 𝘍𝘰𝘳𝘦𝘷𝘦𝘳. You may have heard that #Bitcoin's price is “𝘨𝘰𝘪𝘯𝘨 𝘶𝘱 𝘧𝘰𝘳𝘦𝘷𝘦𝘳, 𝘓𝘢𝘶𝘳𝘢.” But how? And who is Laura? This quote from @Michael Saylor became a meme after his interview with Laura Shin, a journalist and host of the Unchained Crypto podcast, in early 2021. 𝗛𝗼𝘄 𝗰𝗮𝗻 𝗕𝗶𝘁𝗰𝗼𝗶𝗻’𝘀 𝗽𝘂𝗿𝗰𝗵𝗮𝘀𝗶𝗻𝗴 𝗽𝗼𝘄𝗲𝗿 𝗴𝗼 𝘂𝗽 𝙛𝙤𝙧𝙚𝙫𝙚𝙧? Here are a few reasons: Bitcoin is an idea that has spread too far and wide to 𝘦𝘷𝘦𝘳 be shut down. The only way Bitcoin dies is if humanity suddenly goes extinct. So, for all intents and purposes, 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝘄𝗶𝗹𝗹 𝗹𝗶𝘃𝗲 𝗼𝗻 𝗳𝗼𝗿𝗲𝘃𝗲𝗿. There will never be more than 21 million bitcoin, and every halving and new hodler makes it scarcer. The value of 𝘩𝘶𝘯𝘥𝘳𝘦𝘥𝘴 𝘰𝘧 𝘵𝘳𝘪𝘭𝘭𝘪𝘰𝘯𝘴 of dollars are being stored in inferior assets like gold, stocks, and real estate. As everything else fails, it will all flow into Bitcoin. But what about after that? Post hyperbitcoinization, won’t Bitcoin’s price go flat? No. 𝗣𝗲𝗼𝗽𝗹𝗲 𝘄𝗶𝗹𝗹 𝘀𝘁𝗶𝗹𝗹 𝗯𝘂𝗶𝗹𝗱, 𝘀𝗼𝗹𝘃𝗲 𝗽𝗿𝗼𝗯𝗹𝗲𝗺𝘀, 𝗮𝗻𝗱 𝗰𝗿𝗲𝗮𝘁𝗲 𝘃𝗮𝗹𝘂𝗲. Technology and production push costs down, so the currency's relative value rises. 𝘛𝘩𝘪𝘴 𝘸𝘪𝘭𝘭 𝘤𝘰𝘯𝘵𝘪𝘯𝘶𝘦 𝘢𝘴 𝘭𝘰𝘯𝘨 𝘢𝘴 𝘩𝘶𝘮𝘢𝘯𝘪𝘵𝘺 𝘦𝘹𝘪𝘴𝘵𝘴. Then how can Bitcoin ever become the dominant world currency if its value keeps rising? 𝘞𝘰𝘶𝘭𝘥𝘯’𝘵 𝘦𝘷𝘦𝘳𝘺𝘰𝘯𝘦 𝘸𝘢𝘯𝘵 𝘵𝘰 𝘴𝘢𝘷𝘦 𝘪𝘵 𝘢𝘯𝘥 𝘯𝘦𝘷𝘦𝘳 𝘴𝘱𝘦𝘯𝘥 𝘪𝘵? That’s a discussion for another time. For now, just keep hodling, and remember: "𝗜𝘁'𝘀 𝗴𝗼𝗶𝗻𝗴 𝘂𝗽 𝗳𝗼𝗿𝗲𝘃𝗲𝗿, 𝗟𝗮𝘂𝗿𝗮. 𝙁𝙤𝙧𝙚𝙫𝙚𝙧!"

𝗣𝗦𝗔: "Bitcoin" is the overall network. "bitcoin" is the currency. Example: "I used @Spirit of Satoshi to study 𝗕𝗶𝘁𝗰𝗼𝗶𝗻, and then I bought 1 whole 𝗯𝗶𝘁𝗰𝗼𝗶𝗻!"

𝗪𝗵𝘆 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗠𝗮𝘁𝘁𝗲𝗿𝘀 When orange pilling your friends, it’s 𝘷𝘪𝘵𝘢𝘭 that they understand why #Bitcoin is important in the first place. If they don’t, they’ll think it’s only a means to get more fiat. And if 𝘺𝘰𝘶 don’t understand it, how can you help 𝘵𝘩𝘦𝘮 understand it? Let’s discuss👇 𝗦𝗰𝗮𝗿𝗰𝗶𝘁𝘆 First: 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗶𝘀 𝘀𝗰𝗮𝗿𝗰𝗲. There will never be more than 21 million, and 𝘢𝘭𝘭 of them can only be acquired through 𝘸𝘰𝘳𝘬. You have a limited amount of time and labor that you can use for providing value to others, so it follows that the representation of your time and labor — your 𝘮𝘰𝘯𝘦𝘺 — should also be limited. Additionally, Bitcoin’s disinflationary nature rewards those who choose to save the fruits of their labor, and carry it into an uncertain future. When people save more than spend, 𝗲𝘃𝗲𝗿𝘆𝗼𝗻𝗲’𝘀 𝘀𝗮𝘃𝗶𝗻𝗴𝘀 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝗶𝗻 𝘃𝗮𝗹𝘂𝗲, making the prices of goods and services 𝘧𝘢𝘭𝘭 in relation to each sat. This allows for inventors and entrepreneurs to build the future, and for society to thrive! 𝗗𝗲𝗰𝗲𝗻𝘁𝗿𝗮𝗹𝗶𝘇𝗮𝘁𝗶𝗼𝗻 Second: 𝗕𝗶𝘁𝗰𝗼𝗶𝗻’𝘀 𝗱𝗲𝗰𝗲𝗻𝘁𝗿𝗮𝗹𝗶𝘇𝗮𝘁𝗶𝗼𝗻. That term has been abused almost to the point of meaninglessness by crypto proponents, but 𝗶𝘁𝘀 𝘁𝗿𝘂𝗲 𝗺𝗲𝗮𝗻𝗶𝗻𝗴 𝗿𝗲𝗺𝗮𝗶𝗻𝘀 𝗮 𝗿𝗲𝗮𝗹𝗶𝘁𝘆 𝗶𝗻 𝗕𝗶𝘁𝗰𝗼𝗶𝗻. As the 𝘰𝘯𝘭𝘺 digital money with no single point of failure or control, Bitcoin has become less like a technology, and more like 𝗮 𝗳𝗼𝗿𝗰𝗲 𝗼𝗳 𝗻𝗮𝘁𝘂𝗿𝗲. Bitcoin is run by 𝘮𝘢𝘯𝘺 users around the world, and is governed by its 𝗰𝗼𝗱𝗲, 𝗺𝗮𝘁𝗵𝗲𝗺𝗮𝘁𝗶𝗰𝘀, 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗶𝗺𝗺𝘂𝘁𝗮𝗯𝗹𝗲 𝗹𝗮𝘄𝘀 𝗼𝗳 𝗽𝗵𝘆𝘀𝗶𝗰𝘀, so it can 𝘯𝘦𝘷𝘦𝘳 be co-opted by greedy individuals or entities. Because of this, it acts as a hedge against human corruption, malevolence, and incompetence. 𝗙𝗿𝗲𝗲𝗱𝗼𝗺 And third: 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗶𝘀 𝗳𝗿𝗲𝗲𝗱𝗼𝗺. Bitcoin resists censorship, is nearly impossible to confiscate, and empowers individuals with the ability to save their time and labor for the future. For anyone who wants freedom in their future, 𝘉𝘪𝘵𝘤𝘰𝘪𝘯 𝘪𝘴 𝘵𝘩𝘦𝘪𝘳 𝘣𝘦𝘴𝘵 𝘩𝘰𝘱𝘦. Remember, however, that 𝗽𝗲𝗿𝘀𝗼𝗻𝗮𝗹 𝗿𝗲𝘀𝗽𝗼𝗻𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝘆 𝗶𝘀 𝗶𝗻𝘀𝗲𝗽𝗮𝗿𝗮𝗯𝗹𝗲 𝗳𝗿𝗼𝗺 𝗶𝗻𝗱𝗶𝘃𝗶𝗱𝘂𝗮𝗹 𝗳𝗿𝗲𝗲𝗱𝗼𝗺. You can easily custody your own bitcoin by simply writing down 12 or 24 words, but if you ever lose those words, 𝙣𝙤 𝙤𝙣𝙚 𝘸𝘪𝘭𝘭 𝘣𝘦 𝘢𝘣𝘭𝘦 𝘵𝘰 𝘣𝘢𝘪𝘭 𝘺𝘰𝘶 𝘰𝘶𝘵. You might be tempted to leave your bitcoin on an exchange, but that leaves it vulnerable to hacks and theft, to say nothing of rehypothecation. Bitcoin teaches its users personal responsibility, and puts their own wealth into their hands, but the full weight of consequences comes with it. 𝗜𝗳 𝘆𝗼𝘂’𝗿𝗲 𝗻𝗼𝘁 𝘄𝗶𝗹𝗹𝗶𝗻𝗴 𝘁𝗼 𝘁𝗮𝗸𝗲 𝗿𝗲𝘀𝗽𝗼𝗻𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝘆 𝗳𝗼𝗿 𝘆𝗼𝘂𝗿 𝗹𝗶𝗳𝗲, 𝘁𝗵𝗲𝗻 𝘆𝗼𝘂 𝗺𝗮𝘆 𝗻𝗼𝘁 𝗯𝗲 𝗿𝗲𝗮𝗱𝘆 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗳𝗿𝗲𝗲𝗱𝗼𝗺 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗯𝗿𝗶𝗻𝗴𝘀. As you teach your friends and family about Bitcoin, remember to communicate 𝘸𝘩𝘺 Bitcoin matters — why it has 𝘷𝘢𝘭𝘶𝘦, regardless of its fiat price. If they want to save their time and work, and rely on unalterable math and code instead of ever-changing human beings, and live responsibly free, then they will see Bitcoin’s true value. 𝗟𝗶𝗸𝗲🤙 if this was valuable to you, and 𝗦𝗵𝗮𝗿𝗲🔄 this with those who don’t yet know why Bitcoin matters. And 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this for later, so you can share this when you need it. Can you think of any more reasons why Bitcoin is important? Drop it in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

𝗕𝗹𝗼𝗰𝗸𝗰𝗵𝗮𝗶𝗻: 𝗡𝗼𝘁 𝘁𝗵𝗲 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆 𝗬𝗼𝘂 𝗧𝗵𝗶𝗻𝗸 𝗜𝘁 𝗜𝘀 As Bitcoin has risen in popularity, “blockchain” has often been touted as the secret behind its success. It has led to 𝘵𝘩𝘰𝘶𝘴𝘢𝘯𝘥𝘴 of blockchains used for a variety of purposes, from cryptocurrencies, to storing real estate titles, identity verification, health records, and more. But all of these are 𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀 𝗹𝗼𝗼𝗸𝗶𝗻𝗴 𝗳𝗼𝗿 𝗮 𝗽𝗿𝗼𝗯𝗹𝗲𝗺, and add unnecessary complications to systems that weren’t broken. So how can blockchains be used outside the realm of Bitcoin? Let’s explore this question below👇 𝗪𝗵𝗮𝘁 𝗶𝘀 𝗮 𝗕𝗹𝗼𝗰𝗸𝗰𝗵𝗮𝗶𝗻? A blockchain, which was originally called a 𝘵𝘪𝘮𝘦𝘤𝘩𝘢𝘪𝘯, is a digital ledger that’s copied and shared by multiple computers. 𝗜𝘁’𝘀 𝗻𝗼𝘁 𝗮 𝗻𝗲𝘄 𝘁𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆, but simply a method for storing and sharing a ledger between many separate participants. Each “page” of the ledger is a block, and each block is summarized — or hashed — into the following block, thus forming a chain. You could also think of a blockchain as being a series of files that are stacked within each other like Matryoshka dolls. Each new block protects the ones before it, so 𝘁𝗵𝗲 𝗼𝗹𝗱𝗲𝗿 𝘁𝗵𝗲 𝗯𝗹𝗼𝗰𝗸, 𝘁𝗵𝗲 𝗺𝗼𝗿𝗲 𝗽𝗲𝗿𝗺𝗮𝗻𝗲𝗻𝘁 𝗶𝘁𝘀 𝗱𝗮𝘁𝗮 𝗶𝘀. 𝗪𝗵𝗮𝘁 𝗔𝗿𝗲 𝗕𝗹𝗼𝗰𝗸𝗰𝗵𝗮𝗶𝗻𝘀 𝗚𝗼𝗼𝗱 𝗙𝗼𝗿? Technically, any information can be secured on a blockchain, from a financial transaction to a monkey jpeg, but it’s not always useful to do so. For example, you could upload the deed to your house onto a blockchain, but it would offer no proof that the house is yours, 𝘰𝘳 𝘵𝘩𝘢𝘵 𝘵𝘩𝘦 𝘩𝘰𝘶𝘴𝘦 𝘦𝘷𝘦𝘯 𝘦𝘹𝘪𝘴𝘵𝘴. In computer science, this is known as the 𝗢𝗿𝗮𝗰𝗹𝗲 𝗣𝗿𝗼𝗯𝗹𝗲𝗺. In a Proof of Work blockchain, each block is proof that the answer to a cryptographic puzzle was found, which necessitates the work of repeatedly guessing and checking. In this way, 𝘱𝘳𝘰𝘰𝘧 that real 𝘸𝘰𝘳𝘬 was done anchors Bitcoin to the real world. But this proof of work proves 𝘯𝘰𝘵𝘩𝘪𝘯𝘨 about the world outside of that. The validity of a block and the authenticity of the transactions in it can be easily verified using math. But any data outside that narrow scope requires trust, 𝗺𝗮𝗸𝗶𝗻𝗴 𝗮𝗻𝘆 𝗼𝘁𝗵𝗲𝗿 𝘂𝘀𝗲 𝗼𝗳 𝗮 𝗯𝗹𝗼𝗰𝗸𝗰𝗵𝗮𝗶𝗻 𝗻𝗼 𝗯𝗲𝘁𝘁𝗲𝗿 𝘁𝗵𝗮𝗻 𝘀𝘁𝗼𝗿𝗶𝗻𝗴 𝗱𝗮𝘁𝗮 𝗶𝗻 𝗹𝗲𝗴𝗮𝗰𝘆 𝘀𝘆𝘀𝘁𝗲𝗺𝘀, just with extra steps. 𝗦𝗼𝗺𝗲 𝗘𝘅𝗰𝗲𝗽𝘁𝗶𝗼𝗻𝘀 There are some instances when non-transaction data stored on a blockchain can be useful, however. The first and most obvious example is Satoshi Nakamoto’s message embedded in the Genesis Block: “𝘛𝘩𝘦 𝘛𝘪𝘮𝘦𝘴 03/𝘑𝘢𝘯/2009 𝘊𝘩𝘢𝘯𝘤𝘦𝘭𝘭𝘰𝘳 𝘰𝘯 𝘣𝘳𝘪𝘯𝘬 𝘰𝘧 𝘴𝘦𝘤𝘰𝘯𝘥 𝘣𝘢𝘪𝘭𝘰𝘶𝘵 𝘧𝘰𝘳 𝘣𝘢𝘯𝘬𝘴”. This message was quoting the headline from a public newspaper that anyone can verify was printed that day. Thus, it serves as proof that Satoshi could not have premined Bitcoin, and he found that block on that day. A more recent example of useful non-transaction data on Bitcoin’s blockchain is BitVM. This process involves embedding many small logic gates into blocks, which are then accessed by external systems to run programs built on Bitcoin’s 𝗶𝗺𝗺𝘂𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆 and 𝘁𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆. Many users enjoy permanently embedding other data into a transaction’s OP_RETURN, such as expressions of love from newly weds, or the announcement of a child’s birth. But these are akin to permanent graffiti, and offer no real usecase, other than the satisfaction of knowing that 𝘁𝗵𝗲 𝗺𝗲𝘀𝘀𝗮𝗴𝗲 𝘄𝗶𝗹𝗹 𝗮𝗹𝗺𝗼𝘀𝘁 𝗰𝗲𝗿𝘁𝗮𝗶𝗻𝗹𝘆 𝗿𝗲𝗺𝗮𝗶𝗻 𝘁𝗵𝗲𝗿𝗲 𝗳𝗼𝗿𝗲𝘃𝗲𝗿. While many people are experimenting with using blockchains for other purposes, the main thing a blockchain is good for is 𝗮𝗰𝘁𝗶𝗻𝗴 𝗮𝘀 𝗮 𝗱𝗶𝗴𝗶𝘁𝗮𝗹 𝗹𝗲𝗱𝗴𝗲𝗿 𝗳𝗼𝗿 𝗱𝗲𝗰𝗲𝗻𝘁𝗿𝗮𝗹𝗶𝘇𝗲𝗱 𝗺𝗼𝗻𝗲𝘆, and the 𝘰𝘯𝘭𝘺 money that’s truly decentralized is Bitcoin. 𝘈𝘭𝘮𝘰𝘴𝘵 𝘢𝘯𝘺 𝘰𝘵𝘩𝘦𝘳 𝘶𝘴𝘦𝘤𝘢𝘴𝘦 would work better on a centralized database. Be sure to 𝗟𝗶𝗸𝗲🤙 this, and 𝗦𝗵𝗮𝗿𝗲🔄 it with anyone who thinks that “blockchain” is a technology with uses outside of Bitcoin. And 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this to find it easily when you need it. Do you disagree? Do you agree but have something to add? Let me know in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️