To be honest, I think the bitcoin ETF is the most boring thing about bitcoin right now. Whenever I get asked about it I'm like, "meh".

Yes, the ETF should be good for price and liquidity, since it gives large pools of walled-garden capital more access to bitcoin exposure.

But in my view, the most important thing about bitcoin right now is all of the little hubs popping up around the world. Bitcoin Beach, Bitcoin Lake, Bitcoin Jungle, Bitcoin Ekasi, Africa Bitcoin Conference, Indonesia Bitcoin Conference, etc. As well wallets and other technologies that help them localize their custody of bitcoin rather than keep it all stashed in the giant Binance honeypot or wherever, and any solutions that help link to them all together for payments or that help them trade peer to peer or onboard from fiat to bitcoin in distributed ways.

The rise and connectivity of those hubs is impressive and is worth supporting.

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Indeed Lyn..

Everyone keeps losing their minds over ETFs. Why does no one care that Bitcoin mining gets closer to complete centralization every passing minute? A handful of pools solve 99% of all Bitcoin blocks. ETF’s boring, Bitcoin price boring, Bitcoin technology is the most exciting.

I love the mention of connectivity! Goods flowing from one to the other would be a huge boost!

Indeed, the new solutions (Fedi etc) can help the communities grow in a better way and those communities give a feedback and can do QA in shapes and forms it was impossible before. 2+2=5

Fedi is a company. Fedimint is the protocol

💜🫡

🫂💜🫂💜

If education around federated Chaumian mints is the goal, what’s the best narrative arc to get there?

I imagine starting with currency debasement/inflation to get to bitcoin and starting with counterparty risk/government rug pulls to get to Fedimints?

2024, the year of fedimints/scaling

I'm amazed to see all the bitcoin projects multiplying around the world and to see more and more stores accepting bitcoins over the last 3 years. This is just the beginning...

Are you saying that rising frequency of local adoption, and the separation of money and state, is more important for the price than Americans introducing a new, lower fee, regulated, custodied on-ramp? (Because I don't think you don't care about price.)

Agreed. Just finished Brown Money. Thanks Lyn, it's such a great read.

I learned so much about the history of money and commerce, the more recent phases that moved us from gold standard to full fiat standard in the 20th century, the inner workings of the fiat system that trends toward wealth concentration and entropy, and the hope that Bitcoin-based communities (such as the ones you mentioned) offer to decentralize control of the ledger.

I'm not a huge reader (I typically do audiobook) so the fact that I read a 500-page history of economics book in the last 3 weeks says a lot about how easy and intriguing of a read it is!

Broken* money not brown money lol 😆

Same. I've never understood the fascination with this ETF noise. Bitcoin is always exciting on its own.

I like etf news cause I get to dunk on the 500 people irl that told me bitcoin would be banned 🤙

I kinda want the BTC price to dump on the ETF approval just so everyone would shut the hell up about the "floodgates opening" and the "billions of dollars" of "big boy dollars" piling into Bitcoin and actually focus on creating something useful.

nostr:note1sug3xlz5w9dgprvdqrd244fxr63acqdnu823gp5edpqwzdq6y3hqa6ftjw

💯

don't forget madeira

that's where i am, and this is why i'm here

also, you remember me

the normies idea of your history is irrelevant

kick ass, girl!

Add nostr:npub17vqv727lnqyw6g5alfrgycr48g930xf4hku8vy4k6n6mnl3lcl8sglecc5 in Arusha Tanzania to the list

https://geyser.fund/entry/2636 https://video.nostr.build/0965919f8d906e6544073021e8f10219dc479cf9ad4905007e966f39f020f040.mp4

nostr:note1gsp08aknkrk7dpycq3x4gffynxsyc48t7c77ut85w6u4ye7s66wqsvhz5f

💯 this is the way!

Agree. Building the tech and building the community are the two most important and exciting aspects of Bitcoin.

I’m interested in seeing what people build around Fedi and eCash and other scaling and privacy solutions. That’s where the action is imho.

It’ll make ngu, which is good for btc adoption and education. Just like any other cycle.

Yes, last year was a year of huge Bitcoin adoption. It's more of a topic than ETFs.

Unoriginal, and not believable

Yep. Spend locally, save globally.

🤙

I would add that the ETF is the confirmation that #bitcoin is now accepted at a store of value as it moves into the medium of exchange and unit of of account over time.

There's a lot of buzz around your post.

Added to the https://nostraco.in/hot feed

🫡graet take Lyn Also I like to think that every bullrun leaves holders (a small % tho) that discovered the true ethos and philosophy of bitcoin and the amazing people in its global comunity.

💯

In the spirit of connecting Bitcoin hubs, what do you think of a semi-distributed Bitcoin Crowd Fund built on Fedimint and Nostr?

The essence of it is:

"A platform for people to invest in entrepreneurs aiming to solve real-world needs using Bitcoin"

Here is a link to my thoughts about it so far in a Google doc - https://docs.google.com/document/d/110x1mZ6GNeFqU2EWdlIoAhvyoPtoEcgXbID95gGC9CU/edit?usp=sharing

Would love your opinion.

Global grassroots spread gives me great hope for the future of humanity.

💯! nostr:note1sug3xlz5w9dgprvdqrd244fxr63acqdnu823gp5edpqwzdq6y3hqa6ftjw

Agree. nostr:npub1w0rldx5sdg960fw7lffu9r4tcec3nlu0ez2jzhdnl6x0tvdgpnkqf5v9xl

https://twentyone.world

You always say it best nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a 🫡

I very much agree.

What makes me the most excited about bitcoin is the hope that it will presumably be able to change the destiny of so many persons who live in countries that might be officially free, but due to the fiat money system are still deeply dependent of Western money and loans to an extend that you could argue that slavery continues to be present these days

nostr:nevent1qqsgwygn0328zk5q3kxspk4265npag7uqxe7r4g5q6vkss8pxsdzgmspzpmhxue69uhkummnw3ezumt0d5hsyg82krn4d5etsz7dge8nmpztspqrqvr45yl2hs6enfmzexk84wglfupsgqqqqqqsjva66j

NGU is the signal that will draw people to those hubs. Otherwise they will just remain a niche inside a niche

Exactly. I'm not excited about the fiat invention that is exchange traded funds.

I'm excited about peer to peer digital cash.

Better if circular economies are what drives depth of liquidity vs financialized pools of capital. But I'll take either :P

It’s all good for #Bitcoin

only gives EXPOSURE to fiat ticker NOT NEVER to real Bitcoin so simple - Many of so called MAXIS in also COMPLYING TO RULES using 401K allocation to it.

I think it is most important event since launch. Bigger than LNG

The drowning out of good initiatives by the ETF train is a shame. People think ETFs will be great for price, but in the long term they might actually hinder BTC's move to base money for economies as could just be seen as another alternative asset class. I'm hoping that a decent number of ETF investors will learn about it and realise the benefits of self custody, and its wider utility.

Agreed.

I hope more and more people learn from you.

Can you explain how 'proof of reserves' would work within an institution running an ETF and if they would be obliged to evidence their UTXOs to the "authorities" or auditors or shareholders and if this would be ahem...open to "creative accounting" ?

They will be audited. Some have said they will publish their wallet addresses so anyone can view them on chain. Others have cited security concerns, but it may be seen as a competitive disadvantage if they don't.

I want the ETF to happen so we can finally check it off and be done with the topic. It has been lingering for years on end now… 😴

So psyched about this new federation of them... 19 Circular economies & counting!

https://fbce.io/

❤️ ... it's just another group of newbies that will be manipulated or try to manipulate.

Bitcoin ETFs will bring the liquidity required by wealthy and tech-savvy individuals to escape the fiscal trap.

The plebs will purchase the assets managed by banks, which will manipulate the price.

On the other side, the Godlike kings will continue to tax the harvest of the Volga as usual, selling them the dream of protection and social welfare, much as the priest sells a piece of Paradise or pensions fund.

History just rhymes.

Stay humble and stack sats in a self-custodial wallet.

This is a once-in-a-generation opportunity for the plebs to gain some yards.

True, agreed. That said, I facilitate my own little community in the Netherlands and, other countries like Dominican Republic, and even then lots of members are now interested in the spot ETF. Meaning I simply have to share knowledge & insights about that otherwise they will try to get it elsewhere. Also, I see an increasing amount of members lately. So let’s just say that it does help to wake people up :)

Its poop. We don't need it. And only fools want it.

Fred Krueger dissing this note making sure we all know he's a fiat clown. Cringe

I appreciated how direct Freddie was about his interests. But, there's so much more to be excited about than having one's account go up. Being fixated on my bag size (in USD value) is not how I want to live. Bitcoin helping people work together, making a better world is a way more exciting prospect!

Yes! NGU is simply a consequence of a functional money system.

ETF w/o in-kind off-ramp is absurd. 🤨

You are always very right

💯 agreed

Try and visit a few this year! Happy to guide you around Bitcoin Lake if you make it down this way

Don't forget about the "Bitcoin Warehouse"

- New project in Edmonton Alberta