Do you notice who is against BIP-110? View quoted note →

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#BIP110 #BitcoinKnots Bitcoin is Freedom Money

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By Hodlonaut 1/ Brink's Executive Director just posted this: Core funding went from 3 organizations in 2018 to "spread over a dozen" today. Let's take a closer look at his collage of organization logos supposedly documenting decentralization of Core funding. Logo by logo. By the end, count how many independent principals are actually behind them. 🧵 2/ Localhost Research. Its founding donors, per its own website: Mark Casey and Wences Casares. Now look up Brink's founding sponsors and program partners: Wences Casares ($1.4M+ via Xapo Bank alone). Mark Casey ($200K). Two logos. Same two funders. 3/ And who founded Localhost? Chaincode Labs developer Mark "Murch" Erhardt and Ava Chow. Yes, that Ava Chow. The Bitcoin Core maintainer. The maintainer co-founded the organization that pays her. On the collage, that's an "independent funding organization." 4/ Don't take my word for the family resemblance. Here's Chaincode congratulating the launch, Oct 2024: "Thank you to @mistercasey and Wences Casares for helping bring this project to life... Bitcoin becomes stronger by being backed by as many independent orgs and individuals as possible." Independent...? Funded by the same patrons as Brink. Founded by their own developer. Congratulated by the mothership. 5/ 2140 Foundation. Sounds independent. On stage at its launch its co-founder thanked OpenSats and HRF for funding him, "and as a personal shoutout I also want to mention Mike Schmidt from Brink." The org Schmidt's collage presents as decentralization credits Schmidt for helping it exist. 6/ 2140's main sponsor: OKX. OKX also funds Core devs directly (Amiti Uttarwar, Marco Falke). And sponsors Brink. And Vinteum. 7/ Spiral and Btrust: both Jack Dorsey initiatives. And Spiral's people ARE the network's architects. Its lead: Steve Lee is Optech co-founder alongside Brink's founder, the man Paradigm publicly thanked for shaping its entry into Core funding. Its first hire, 2019: Matt Corallo, who founded the Chaincode residency and handed it to Newbery. 8/ Maelstrom: Arthur Hayes' family office. His exchange, BitMEX: co-funded Amiti Uttarwar's $150,000 grant in 2020. Donated to Brink. And BitMEX Research's Jonathan Bier sits on Brink's board. One logo on the slide. Three touchpoints inside the other logos. 9/ B4OS: a Latin American training course. Grants of $1,000–$5,000 per developer. A worthy program. But a pillar of funding decentralization on a slide? No. 10/ OpenSats: its flagship Long-Term Support program's inaugural recipient, July 2023, was Marco Falke, fresh off three years of OKCoin and Paradigm grants, and before that Chaincode Labs. Different logo on the check. Same developer, continuously funded since 2020. 11/ Now the part the collage really doesn't want you to think about: The 2018 "just 3 organizations". Blockstream, Chaincode Labs, MIT DCI. Brink's own grant committee has included Blockstream's Christian Decker and DCI's Cory Fields. The old three didn't get diluted. They got seats inside the new ones. 12/ And the connective tissue: Bitcoin Optech. Seeded by Casares, Pfeffer, and Chaincode's Morcos. Its weekly podcast is co-hosted by... Mike Schmidt (Brink ED) and Murch (Localhost co-founder). Two "separate" organizations. One microphone. Every week. 13/ At the June 2025 OP_RETURN merge, four of the five Core maintainers were funded by organizations sharing the same founding donors. One of them merged 56% of ALL changes that year. A figure Schmidt promoted to sponsors as an achievement. 16/ Decentralization isn't how many logos fit on a slide. It's how many independent decisions get made. More depth on the network: CAPTURE, articles 1–3 at citadel21.com

Jack Mallers exits Twenty One. His own words. View quoted note →

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BIP-110 & Bitcoin Knots defend Bitcoin Freedom Money

Run #BIP110 & #BitcoinKnots becuase Bitcoin is Freedom Money View quoted note →