Last week I almost had a heart attack due to a lost #Bitcoin seed phrase. 🤮

I onboarded a close friend a while back & they lost their paper backup while travelling. They hit me up & asked what happens from there. 🤦‍♂️

They still had wallet access (which was full-password encrypted) via their wallet app, so I walked them through creating a second wallet, backing up THAT seed & then moving the funds over. I reiterated how important it is that nobody ever have access to their offline backup & they understood the importance/gravity of the situation MUCH better than the initial setup I walked them through; sometimes people really do need to get burned in order to learn the lesson. I then told them to never use the first wallet ever again because they had to assume that someone else was in possession of the seed. 💁‍♂️

This case was SUPER lucky & the #BTC gods were looking down on them, but unfortunately, many such cases will occur in the future. 🤷‍♂️

Remember kids…

…not your keys, not your coins.

Protect your seed phrases AT ALL COSTS & learn to implement multi-sig so that you NEVER have a single point of failure; DO THE FUCKING WORK TO SECURE YOUR SATS. 🫴

Thank you for coming to my TED talk. 🤙

GM nostr, how many sats are you comfortable with keeping in a custodial wallet? At what point do you withdraw to self-custody?

Bitcoin is money.

And it must be preserved as such. Money is the ultimate tool for distinguishing what's important from what's not. Every civilization that successfully scaled needed to invent it. Those that didn't remained stuck at a certain level, unable to deal with the information overload. Its people became lost in the games of lies and deception, as they resorted to inferior substitutes to serve as currency.

Bitcoin needs to do one thing - be a decentralized ledger tracking who owns how much value, independent of any trusted third party. That's it.

As Bitcoin continues to be increasingly successful, it's understandable that specific people will propose changes to gain more power or to shape Bitcoin to suit their specific needs. However, just because they try doesn't mean they should be allowed to. If we let Bitcoin's purpose become diluted to accommodate every use case, we'll end up pleasing none. Demand for a decentralized, always-available, general-purpose database is infinite. Everyone wants to write THEIR data into such a source of truth.

If the data they're writing represents monetary transfers of value (especially from those who have a lot of sats to those who don't) - we should absolutely encourage and facilitate this.

But if the data they're writing is a personal expression of vanity or a scheme designed to trade their 1 sat for more sats from someone else, we should absolutely call them out. More importantly, we should actively work to prevent such schemes from succeeding and from being built on top of Bitcoin.

If people want to play zero-sum games and build "decentralized world computers", Ethereum already exists. That experiment has run its course over the past decade, and even its benevolent dictator & prophet Vitalik had to admit failure and propose a new five-year plan to make Ethereum "as beautifully simple as Bitcoin".

Use Bitcoin the way you use money in your life - to focus your efforts and separate truths from lies. Help others do the same. Remember: you don't change Bitcoin; Bitcoin changes you. And those wanting monkey jpegs on the blockchain, elaborate technical experiments, personality cults, or thrilling zero-sum games should be directed toward Ethereum, Solana, Cardano, or whatever shitcoin currently boasts the largest marketing and R&D budget.

GM 🌞

It’s cold in Oslo, and I forgot my coat. 😑

Every postmodern ideology is founded on the premise that evil doesn’t exist.

The problem is evil does exist.

#bitcoin

#bitcoin

Please, please, pleaaaaase let me pay everything online with Sats, I'm so tired of cards beeing declined and always giving up all information

If Bitcoin is not a good store of value, it’s not a good medium of exchange. If it’s only a store of value, it’s not money. If Bitcoin is not money, it fails in the long run even more than gold did, because scarcity is not why Bitcoin has value in the first place.

GM! ☕ You know that feeling? 😅

nostr:nprofile1qyjhwumn8ghj7cn40faxymm594ex2mrp0yhxyatvd35hx6rzda6kuare9e3k7mgprfmhxue69uhkummnw3ezuum4v3hkxctjd3hhxtnrdaksqgxfax7upvpuyx7nx7sjmn6mgc75nld0azz25y4mj5xpst57fklfhqy6fmt5 1000

How will Bitcoin scale as a medium of exchange?

If it’s so good, won’t everyone just save it and spend their dollars instead? That’s the classic argument.

This is absolutely happening and will continue for a while. That view only sees one side of the transaction: the consumer.

At the beginning, just as only the most committed Bitcoiners will spend it, only the best businesses will be able to demand Bitcoin. As those two ends of the spectrum grow, people who want to spend dollars and save Bitcoin will start to run out of options. Especially for quality goods.

This transition starts with shop owners upcharging for fiat. At first, it will look like today’s cash vs credit pricing, simply covering card fees. As Bitcoin becomes more obvious, that spread will grow.

Adoption will take time. Not every producer will switch quickly. The ones who do will outcompete. They will escape margin decay from fiat debasement. They will not need to cut corners. Good money chases quality goods, and these businesses will be positioned to thrive.

High-quality producers steer the next marginal transaction. Over time, they will steer it toward Bitcoin.

If a business wants to earn the hardest money, they will have to produce a top-quality good. Just like if a consumer wants a top-quality good, they will increasingly have to pay with Bitcoin.

Orange pilling the world begins at the margins.

There are two sides to every transaction. The margins are on both ends.

Few seem to have any concept of how much easier life would be if money got more valuable over time rather than less.

ESPECIALLY during a period of massive technological deflation. Imagine if everything you needed for your living standard was 10% cheaper/better quality each year? The literal opposite of the current system.

People are programmed to parrot the Keynesian lie that deflation is bad.

The craziest part to me is people seem more interested in being right and getting poorer, than being wrong and getting richer.

stay humble and stack sats 🫡

This is going to kill a lot of people. Don’t forget.

Dear Apple,

if your answer to Grok & Co is, to add a "Pride Harmony" (or whatever other) wallpaper as the most prominent OS upgrade feature, then you can fuck right off.

And I can't understand that. They compare bitcoin to gold and think they will only use it to store value. They will take loan and spend fiat. That may work in the short term, but if we all do it that way, then fiat wins. The ultimate goal is for fiat to disappear, so we need to use Bitcoin constantly.

Denominate in Bitcoin.

Spend your Bitcoin.

Pollinate the world with Bitcoin.

All roads lead to bitcoin.

I played the degen altcoin game hard in the beginning.

nostr:nprofile1qqsqfjg4mth7uwp307nng3z2em3ep2pxnljczzezg8j7dhf58ha7ejgpr9mhxue69uhhxetwv35hgtnwdaekvmrpwfjjucm0d5q3samnwvaz7tmswfjk66t4d5h8qunfd4skctnwv46qu7vtcc and nostr:nprofile1qqsywt6ypu57lxtwj2scdwxnyrl3sry9typcstje65x7rw9a2e5nq8sprpmhxue69uhhyetvv9ujuumwdae8gtnnda3kjctvqy0hwumn8ghj7cnfw33k76twd4shs6tdv9kxjum5wvhx7mnvd9hx2wy9xgj saved me.

Fucking unbelievable timing finding these guys.

I dumped all my shitcoins at the top and made out (relatively) like a bandit flipping it all to bitcoin.

I was deep... even owned sandland if you remember snoop and his commercial 🤭. That was the top signal for me 🤙

First year trying. Much bigger plans for next year

⚡️😏 NEW - 2 days later bitcoin exceeds its ATH and is now in price discovery.

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I don’t usually brag like this but today is my 44th birthday and I’m kinda shredded. 😂