Favorite passage in "Bitcoin: 1/🤡🌎" so far... "Many battles, verbal and physical, are fought over fruitless causes. Make sure the hill you're prepared to die on has a valley worth living in beneath it. Finding something worth fighting for is what makes living worth dying for." h/t @Knut Svanholm ∞/21M @Luke de Wolf

Prediction...in response to fiat price of eggs going crazy d/t monetary inflation and poor incentives, current administration is gonna take a page out of 1970's play book and put out some fake news saying eggs are bad for us again.

US Court Orders Bitcoin Investor to Surrender Private Keys – Bitbo

A Texas court has ordered early Bitcoin investor Frank Ahlgren to reveal private keys to his $124 million crypto holdings after a tax fraud convict...

So although he owes $1.1 million in taxes and restitution, he has to turn over all his priv keys, valued at $124 million, to the court? Makes sense.

Greetings Central PA Bitcoiners! Happy Genesis Block Day!  Sixteen years ago today, Satoshi mined the first bitcoin block, known as the genesis block. When a miner finds a block, there's a small text field in which they can put whatever message in it they want. Modern mining pools usually use the name of their pool. Satoshi chose the following for block #0:  The Times 03/Jan/2009 Chancellor on brink of second bailout for banks There are two reasons for this. By including that day's headline from a major newspaper (London's The Times), Satoshi timestamped the block that he cast. This proved that he/she/they hadn't been mining on their own, keeping the mined blocks a secret, and preventing others from competing to mine for those new bitcoin. The crux of this reason is that it shows that it was launched fairly and on the date that he broadcast it to the network. The second reason is more symbolic: the 2008 financial crisis, and the government bailout interventions that followed, represented a breach of trust and alienated many, including Satoshi: "The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” The white paper laid out the framework for bitcoin: a new digital asset and decentralized payment network that doesn't rely on having to trust entities that have repeatedly proven themselves untrustworthy. Several years ago, bitcoin educator and podcaster Trace Mayer first proposed and promoted Proof of Keys Day, corresponding with the anniversary of the genesis block. The idea is that whoever has bitcoin on exchanges should withdraw them on January 3rd every year, and in doing so, force exchanges who might be running a fractional reserve to be exposed. IMHO, Proof of Keys Day is a great idea, and every bitcoiner should know the difference of what it means to hold their own wealth vs some exchange's IOU for bitcoin. However, bitcoiners who know this important distinction very likely don't keep sats on an exchange in the first place. If you do happen to have bitcoin on an exchange and want to celebrate Proof of Keys Day by making the exchange prove that they have the bitcoin they say they do, and you are comfortable and familiar with your self-custody setup, by all means please celebrate and withdraw! I do wonder about how many people realistically (1) have a bitcoin balance on an exchange, (2) are comfortable with self-custody and have software or hardware wallet, and (3) have Proof of Keys Day on their radar. Cheers nonetheless!  Remember, friends...treat bitcoin exchanges like you treat public bathrooms. Walk in, do your business, wash your hands, and walk right back out.  Happy Genesis Block Day and Happy Proof of Keys Day!

Million Sat Bacon: 1 pound thick-cut bacon 1/3 cup packed brown sugar 1 teaspoon freshly ground black pepper 1/8 teaspoon cayenne pepper (optional) 1/4 cup pure maple syrup Preheat oven to 350°F Cover baking sheet with aluminum foil, place wire rack on top of foil. Lay out bacon on a single layer on rack. Mix dry ingredients, rub mixture on top of bacon. Drizzle top with maple syrup. Bake 40 minutes until carmelizes, or until desired crispiness.

Shitcoins are one of the most frustrating things to me...such a destructive distraction. Peddlers use false association with bitcoin to try to gain themselves credibility. Like a scam artist who goes to your church and swindles old people there.

TIL: Nasdaq-100 is a stock index that holds the top 100 non-financial companies listed on Nasdaq. This index is tracked by many passive index funds, notably mega-ETF QQQ. Being in this list is a big deal for a publicly traded company, as it means that lots of funds will be buying their shares irrespective of price/PE/opinion, because they have to own what's in the index. The index is reassessed periodically (quarterly?) for who belongs and who doesn't, and they have 3 substitutions this month. In: Microstrategy, Palantir, and Axon Enterprise Most of you are familiar with MSTR. Palantir sells spyware, and Axon is a tech/weapons company whose best seller is the Taser. Out: Illumina, Super Micro Computer, and Moderna. Illumina develops genetic research products, SMCI makes AI hardware, and Moderna was one of two companies who brought COVID vaccines to market. I'm getting a kick out of this info, for reasons I can't quite articulate.

Roger is attempting to give himself the credibility he had in 2015, and totally ignoring that he was one of the architects of the bcash mess. He owns bitcoin dot com, and in 2017 started hawking bcash as if it were bitcoin. To this day, people are misled by this. The market speaks for itself regarding its value vs bitcoin, and anyone who was persuaded or misled by Roger has far less bitcoin now because of it. He was big on yelling "censorship" in the 2016-2017 days. The r/bitcoin subreddit was where a lot of the discussions were happening, the admins of r/bitcoin didn't permit shitcoinery in their subreddit, and they considered implementations of bitcoin that weren't in consensus with the network to be shitcoins. Before there was bcash, there was bitcoin unlimited. Before BU, there was bitcoin classic. Ver promoted them all. To say those in consensus (small blockers, if you like) censor big blockers (those that mine blocks greater than 1mb pre-segwit, 4m weight units now) is same as saying they're censoring txns that spend coins they don't have, sign for utxos they don't have the private keys for, or pay themselves 1000 btc in the coinbase txn. He's calling being out of consensus "censorship." Bcashers spun up r/btc to have the discussions they wanted to have. Confusingly, the ticker for bitcoin is BTC, and bcash is BCH, or BCC on finex I think. I was having a conversation with a precoiner this year who was on the cusp of becoming a newcoiner, and based on some of what he said, it was clear he's been misled by bcash rhetoric. Such a costly DDOS.

Recent text to a newcoiner, who brought up price action to me recently: Thought regarding BTC price action...once people get off zero (taking one's assets from 0% BTC to some small amount), the daily/hourly price can be mesmerizing, but it can make people do dumb things, like buying high and selling low. Human psychology often makes us do stupid things when it comes to trading...some of the best performing accounts at traditional brokerages belong to clients who've been dead for years, because they're not moving things around in their portfolio, tripping themselves up. We see the hourly and daily moves in the price...that's like waves at the beach. The trend, however, is like the tide. And the tide's coming in.

A thought about framing...$100,000 sounds expensive...2.4x median US income. Another way to frame it is in the context of $900T of global assets. That number is ofc kind of augmented d/t all kinds of BS debt shenanigans, however it's a reference point. Current BTC market cap...$2T Current global assets...$900T BTC currently makes up 0.22% of global assets. Gold is about 9x that (~2%). Is it reasonable for BTC value to reach that of gold, 2% of global assets? 5%? 10%?