Is that copyright infringement? How do they plan on getting around that?
I had a thought recently that Blackrock would one day want to increase the max supply. It could either because they don’t have enough coins to back their obligations or they’re just too addicted to the fiat free money. Either way, it would be really funny to watch them try to fork Bitcoin and get dumped on
The advertisement is for XXI, not Bitcoin. But bitcoin is the thing that can’t be printed, not XXI shares.
Until they present a plan for providing value for the world and actually earning bitcoin, it’s all just an intentionally confusing marketing scheme to convince people to pay twice as much for their paper bitcoin vs the ETF.
Can XXI shares be printed? I’m concerned that these Bitcoin treasury companies are the start of fractional reserve banking with bitcoin.
People like the algorithm. Is there a nostr app that has one? Or maybe there isn’t enough diverse content on nostr to have one?
Unable to zap
“16% of the network is permissionlessly asserting their right to relay what's in the interests of themselves and the network”
What’s the other 84% of the network doing then? Are they not also permissionlessly asserting their right to relay what *they think* is in the interests of themselves and the network?
I forget… does PoS stand for Proof of Stake or Piece of Sh*t?
Jokes aside, the problem with PoS finally clicked for me. I used to think it was because it gave the richest people control over the protocol, which is true. But I think the main problem is that there is no opportunity cost for attempting to attack the network. You could attack the network by trying to reorganize the blockchain and double spending your coins. But you could also stake those same coins on the original chain just in case your attack fails. No opportunity cost.
With PoW, the people with the most capital still have the most power over the protocol, but there is a massive opportunity cost to an attempted attack. First, you cannot own the coin and attack the network at the same time. Any mining equipment you own could have been bitcoin instead. Also, an unsuccessful attack leaves you with a ton of electricity cost and nothing to show for it. This connection to the real world incentivizes miners remain in consensus with the rest of the network and contributing to its security instead of attacking it.
Actually understanding how it worked changed my perspective. The 3Blue1Brown video on Bitcoin specifically.
One of the things that bugs me the most about the Bitcoin community is the number of people that simply regurgitate the ideas pushed by Bitcoin influencers. This is supposed to be a community of free thinking and a priori reasoning, but a majority of people aren’t doing this.
Just because somebody online supports Bitcoin doesn’t mean that they have your best interest at heart. If we are not careful, we will end up creating the same system of control that we are trying to escape.
My June newsletter is out now. It focuses on 3 misconceptions about US public debt and deficits:
https://www.lynalden.com/june-2025-newsletter/

This was my first time reading one of your articles. I like how calmly you present the situation in comparison to a lot of bitcoiners. I was really surprised to hear that you own treasuries. Could you explain why?
I’m using nostr for free…
Bitcoin's Red Light District Future?
https://blossom.primal.net/23c6a556867cf4c4dd0a0da6e0c985b66a5e3c16976745e66f86bf2efd8130a6.mp4
Are the spammers profiting from the inscriptions by selling them to other people, or are they just “leaving their mark” on the blockchain?
If they are profiting, you can hardly blame them. The problem isn’t their entrepreneurial mindset that provides services for which other people are willing to pay. The problem is the fact that other people actually want to pay for their spam. Hopefully people learn.
If they are just spamming to leave their mark on the blockchain, you can try to change the culture. But it is ultimately up to them since Bitcoin is premissionless. It only takes a small percentage of people running Core v29 to get the spam to miners.
I know this would be some kind of copyright violation, but if nostr is actually permissionless, it couldn’t be stopped right?
We wouldn’t have to be if it was on nostr
I see Spotify in there. I was surprised to see that nostr isn’t used more for pirating music. Does anyone know the reason for this?
I didn’t realize that the block reward starts rounding around the 2112 halving. Since it rounds down, does that mean there will actually be less than 21 million BTC, or does it make up for those lost sats in the last epoch?
Bitcoin Spam and Mining Pool Centralization
https://blossom.primal.net/fa8ef013bb3272ed63beacb832a9b048b6fe32690babd1fc7ea280ed74ac77bc.mp4
This is the best video you’ve made on this topic so far.
Will Bitcoin Spam Get Priced Out?
https://blossom.primal.net/ee8882f7af6ac69b0b26ec68ef879d35ce5eb3923c7d4fe4015af57d51bb1c90.mp4
I’ve been following Matthew for 3 years now and this issue is the first time that I’ve disagreed with him.
The filters aren’t working. If they were, there wouldn’t be any inscriptions. Miners put arbitrary data into blocks because those transactions pay the highest fees. If you don’t like that, the only way to stop it is by rejecting blocks with arbitrary data. That would require a hard fork, which would be terrible for the network.
Even with a hard fork, it would be hard to separate out spam from economic transactions. I think the best way to combat this issue is to increase the share of mining from bitcoiners that care more about the health of the network than profit. Also, decreasing block size might not be a bad idea to increase fees.
I’d like to see Matthew use his platform to offer thoughtful and practical solutions instead of making a fuss about something that filters won’t fix.
True. Unfortunately, people will continue to fall for jpeg nft scams on Bitcoin for a long time, which only encourages spammers. The filters are the first line of defense. Another thing that could mitigate spam is home mining by bitcoiners that care more about the long term health of the network than short term profit. I’d like to get into home mining when I get more technically skilled.
Each dollar that Tether issues essentially adds a dollar to the money supply. The person that owns the USDT can spend it and the US government can spend it when Tether buys treasuries. This worsens the problem of currency debasement and accelerates the collapse of fiat.
#bitcoin



