𝗪𝗵𝗮𝘁 𝗶𝘀 𝘁𝗵𝗲 𝙍𝙚𝙖𝙡 𝗥𝗼𝗼𝘁 𝗼𝗳 𝗔𝗹𝗹 𝗘𝘃𝗶𝗹? 𝘏𝘪𝘯𝘵: 𝘐𝘵'𝘴 𝙣𝙤𝙩 𝘮𝘰𝘯𝘦𝘺. You’ve likely heard the adage, “𝘔𝘰𝘯𝘦𝘺 𝘪𝘴 𝘵𝘩𝘦 𝘳𝘰𝘰𝘵 𝘰𝘧 𝘢𝘭𝘭 𝘦𝘷𝘪𝘭.” You may have even heard others correct the quote, saying that “𝘛𝘩𝘦 𝙡𝙤𝙫𝙚 𝘰𝘧 𝘮𝘰𝘯𝘦𝘺 𝘪𝘴 𝘵𝘩𝘦 𝘳𝘰𝘰𝘵 𝘰𝘧 𝘢𝘭𝘭 𝘦𝘷𝘪𝘭.” Either way, this quote is not quite true, and lacks the necessary nuance. Let me explain👇 In his first letter to Timothy, chapter 6 verse 10, Paul wrote: "𝘍𝘰𝘳 𝘵𝘩𝘦 𝘭𝘰𝘷𝘦 𝘰𝘧 𝘮𝘰𝘯𝘦𝘺 𝘪𝘴 𝘵𝘩𝘦 𝘳𝘰𝘰𝘵 𝘰𝘧 𝘢𝘭𝘭 𝘦𝘷𝘪𝘭: 𝘸𝘩𝘪𝘤𝘩 𝘸𝘩𝘪𝘭𝘦 𝘴𝘰𝘮𝘦 𝘤𝘰𝘷𝘦𝘵𝘦𝘥 𝘢𝘧𝘵𝘦𝘳, 𝘵𝘩𝘦𝘺 𝘩𝘢𝘷𝘦 𝘦𝘳𝘳𝘦𝘥 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘧𝘢𝘪𝘵𝘩, 𝘢𝘯𝘥 𝘱𝘪𝘦𝘳𝘤𝘦𝘥 𝘵𝘩𝘦𝘮𝘴𝘦𝘭𝘷𝘦𝘴 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘸𝘪𝘵𝘩 𝘮𝘢𝘯𝘺 𝘴𝘰𝘳𝘳𝘰𝘸𝘴” (KJV). This Bible reference discourages many Christians from investigating Bitcoin, which holds them back from adopting this freedom technology. To say that money 𝘪𝘵𝘴𝘦𝘭𝘧 is the root of all evil would be akin to blaming the messenger for the message. And saying that the 𝘭𝘰𝘷𝘦 of money is the root of all evil is like saying that all evil springs from loving work, your time to be alive, and your ability to choose. 𝗠𝗼𝗻𝗲𝘆 𝗶𝘀 𝗮𝗻 𝗮𝗯𝘀𝘁𝗿𝗮𝗰𝘁𝗶𝗼𝗻 𝗼𝗳 𝗺𝗼𝘀𝘁 𝗴𝗼𝗼𝗱 𝘁𝗵𝗮𝘁 𝗺𝗮𝗻𝗸𝗶𝗻𝗱 𝗰𝗮𝗻 𝗽𝗿𝗼𝗱𝘂𝗰𝗲, and is therefore the farthest thing from “evil”. Ayn Rand, in her book "Atlas Shrugged," eloquently dissects money’s true nature. Money, as she explains, is not the root of evil, but merely a medium for exchanging all kinds of goods. It represents effort, production, and the potential for trade. 𝗠𝗼𝗻𝗲𝘆, 𝗶𝗻 𝗶𝘁𝘀𝗲𝗹𝗳, 𝗶𝘀 𝗷𝘂𝘀𝘁 𝗮𝗻 𝗼𝗯𝗷𝗲𝗰𝘁, 𝗮 𝘁𝗼𝗼𝗹. It cannot inherently be the root of good or evil; rather, 𝘪𝘵'𝘴 𝘵𝘩𝘦 𝘩𝘶𝘮𝘢𝘯 𝘢𝘤𝘵𝘪𝘰𝘯 𝘢𝘯𝘥 𝘪𝘯𝘵𝘦𝘯𝘵𝘪𝘰𝘯 𝘣𝘦𝘩𝘪𝘯𝘥 𝘪𝘵 𝘵𝘩𝘢𝘵 𝘪𝘮𝘱𝘢𝘳𝘵𝘴 𝘮𝘰𝘳𝘢𝘭 𝘷𝘢𝘭𝘶𝘦. So was Paul wrong? In Paul's time, money itself was fundamentally broken, just like fiat money today. Roman currency, often debased, was a tool for the powerful to manipulate value and control the populace. 𝘐𝘯 𝘵𝘩𝘪𝘴 𝘤𝘰𝘯𝘵𝘦𝘹𝘵, 𝘵𝘩𝘦 𝘭𝘰𝘷𝘦 𝘰𝘧 𝘮𝘰𝘯𝘦𝘺 𝘪𝘯𝘥𝘦𝘦𝘥 𝘮𝘪𝘳𝘳𝘰𝘳𝘦𝘥 𝘢 𝘭𝘰𝘷𝘦 𝘧𝘰𝘳 𝘱𝘰𝘸𝘦𝘳 𝘢𝘯𝘥 𝘤𝘰𝘯𝘵𝘳𝘰𝘭 𝘰𝘷𝘦𝘳 𝘰𝘵𝘩𝘦𝘳𝘴, often leading to corruption and moral decay. Before 2009, there was never a time when this wasn’t the case to some extent, so Paul was 𝘵𝘦𝘤𝘩𝘯𝘪𝘤𝘢𝘭𝘭𝘺 correct, especially with the money that existed in his day. The heart of this issue lies in Paul’s next phrase: "𝘸𝘩𝘪𝘤𝘩 𝘸𝘩𝘪𝘭𝘦 𝘴𝘰𝘮𝘦 𝘤𝘰𝘷𝘦𝘵𝘦𝘥 𝘢𝘧𝘵𝘦𝘳". This coveting of money, or 𝘢𝘯 𝘪𝘯𝘵𝘦𝘯𝘴𝘦 𝘥𝘦𝘴𝘪𝘳𝘦 𝘧𝘰𝘳 𝙚𝙖𝙨𝙮 𝘮𝘰𝘯𝘦𝘺, aligns with what economists call “high time preference” — the preference for immediate rewards over greater rewards in the future, at the expense of values, integrity, and long-term welfare. This high time preference leads to shortsighted decisions, unethical behavior, and ultimately to both personal and societal harm. Contrast this with bitcoin, a modern form of money that embodies the principles of 𝘭𝘰𝘸 time preference. Bitcoin, by its very nature, encourages production over rent-seeking, saving over spending, and long-term planning over short-term gratification. 𝗜𝘁'𝘀 𝗮 𝘁𝗼𝗼𝗹 𝗳𝗼𝗿 𝗽𝗲𝗿𝘀𝗼𝗻𝗮𝗹 𝘀𝗼𝘃𝗲𝗿𝗲𝗶𝗴𝗻𝘁𝘆, 𝗻𝗼𝘁 𝘀𝗼𝗰𝗶𝗲𝘁𝗮𝗹 𝗰𝗼𝗻𝘁𝗿𝗼𝗹. This aligns well with the Austrian economic theory, which advocates for sound money as a foundation for a healthy, ethical, and prosperous society. Thus, the true root of all evil is not money, but high time preference, or the craving for immediate, unearned wealth. It leads to corruption, moral degradation, and societal decay. 𝗠𝗼𝗻𝗲𝘆, 𝘄𝗵𝗲𝗻 𝗿𝗲𝘀𝗽𝗲𝗰𝘁𝗲𝗱 𝗮𝘀 𝗮 𝘁𝗼𝗼𝗹 𝗳𝗼𝗿 𝗳𝗮𝗶𝗿 𝗲𝘅𝗰𝗵𝗮𝗻𝗴𝗲 𝗮𝗻𝗱 𝗮 𝘀𝘁𝗼𝗿𝗲 𝗼𝗳 𝗹𝗼𝗻𝗴-𝘁𝗲𝗿𝗺 𝘃𝗮𝗹𝘂𝗲, 𝗰𝗮𝗻 𝗯𝗲 𝗼𝘂𝗿 𝘀𝘁𝗿𝗼𝗻𝗴𝗲𝘀𝘁 𝗳𝗼𝗿𝗰𝗲 𝗳𝗼𝗿 𝗴𝗼𝗼𝗱, driving innovation, productivity, and ethical behavior. It's crucial to understand money's role as a neutral tool, a facilitator of trade and a measure of value. By embracing sound money principles and rejecting high time preference behavior, 𝘄𝗲 𝗰𝗮𝗻 𝗳𝗼𝘀𝘁𝗲𝗿 𝗮 𝘀𝗼𝗰𝗶𝗲𝘁𝘆 𝘁𝗵𝗮𝘁 𝘃𝗮𝗹𝘂𝗲𝘀 𝗶𝗻𝘁𝗲𝗴𝗿𝗶𝘁𝘆, 𝗹𝗼𝗻𝗴-𝘁𝗲𝗿𝗺 𝗽𝗿𝗼𝘀𝗽𝗲𝗿𝗶𝘁𝘆, 𝗮𝗻𝗱 𝗲𝘁𝗵𝗶𝗰𝗮𝗹 𝗰𝗼𝗻𝗱𝘂𝗰𝘁. Make sure you 𝗟𝗶𝗸𝗲🤙 and 𝗦𝗵𝗮𝗿𝗲🔄 this, and spread the word on why neither money — nor the love of it — is the root of all evil. And 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this for when you need it later. What is your opinion on this Biblical quote and my take on it? Let me know in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗶𝘀 𝗥𝗼𝗴𝘂𝗲 𝗠𝗼𝗻𝗲𝘆 𝘈𝘯𝘥 𝘉𝘪𝘵𝘤𝘰𝘪𝘯𝘦𝘳𝘴 𝘸𝘰𝘶𝘭𝘥 𝘩𝘢𝘷𝘦 𝘪𝘵 𝘯𝘰 𝘰𝘵𝘩𝘦𝘳 𝘸𝘢𝘺 Recently, Samantha LaDuc commented on #Bitcoin, calling it “𝘳𝘰𝘨𝘶𝘦 𝘮𝘰𝘯𝘦𝘺”, and saying it’s “𝘰𝘯 𝘵𝘩𝘦 𝘰𝘱𝘱𝘰𝘴𝘪𝘵𝘦 𝘴𝘱𝘦𝘤𝘵𝘳𝘶𝘮 𝘵𝘰 𝘴𝘰𝘶𝘯𝘥 𝘮𝘰𝘯𝘦𝘺.” While we thank Samantha for complimenting Bitcoin so highly, it seems she’s a little confused on what it means for something to be “sound money”. Hopefully the following will help set the record straight👇 The implication here that only state-enforced currency is "sound" is amusingly archaic. It implies that money issued by the state is inherently stable and reliable. However, 𝗵𝗶𝘀𝘁𝗼𝗿𝘆 𝗶𝘀 𝗿𝗶𝗳𝗲 𝘄𝗶𝘁𝗵 𝗲𝘅𝗮𝗺𝗽𝗹𝗲𝘀 𝗼𝗳 𝗴𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗰𝘂𝗿𝗿𝗲𝗻𝗰𝗶𝗲𝘀 𝗰𝗿𝘂𝗺𝗯𝗹𝗶𝗻𝗴 𝘂𝗻𝗱𝗲𝗿 𝘁𝗵𝗲 𝘄𝗲𝗶𝗴𝗵𝘁 𝗼𝗳 𝗺𝗶𝘀𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗮𝗻𝗱 𝗵𝘆𝗽𝗲𝗿𝗶𝗻𝗳𝗹𝗮𝘁𝗶𝗼𝗻, brought on by poor incentives. Bitcoin, unfettered by state control, 𝗲𝗺𝗯𝗼𝗱𝗶𝗲𝘀 𝘁𝗿𝘂𝗲 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗮𝘂𝘁𝗼𝗻𝗼𝗺𝘆. Being "rogue" means it's not subject to whimsical monetary policies or political agendas. It's a monetary system that operates on principles of scarcity and decentralized consensus, unlike state currencies prone to excessive printing and devaluation. In a world witnessing rampant money printing and currency debasement, 𝗕𝗶𝘁𝗰𝗼𝗶𝗻'𝘀 "𝗿𝗼𝗴𝘂𝗲" 𝘀𝘁𝗮𝘁𝘂𝘀 𝗶𝘀 𝗶𝘁𝘀 𝘀𝘁𝗿𝗲𝗻𝗴𝘁𝗵. It offers an alternative to the failed legacy system, where the value of money is constantly eroded by inflationary policies. 𝘉𝘪𝘵𝘤𝘰𝘪𝘯'𝘴 𝘧𝘪𝘹𝘦𝘥 𝘴𝘶𝘱𝘱𝘭𝘺 𝘢𝘯𝘥 𝘥𝘦𝘤𝘦𝘯𝘵𝘳𝘢𝘭𝘪𝘻𝘦𝘥 𝘯𝘢𝘵𝘶𝘳𝘦 𝘮𝘢𝘬𝘦 𝘪𝘵 𝘴𝘰𝘶𝘯𝘥 𝘮𝘰𝘯𝘦𝘺 𝘪𝘯 𝘢𝘯 𝘶𝘯𝘴𝘰𝘶𝘯𝘥 𝘸𝘰𝘳𝘭𝘥. As the "rouge" Thomas Jefferson likely said: "𝘞𝘩𝘦𝘯 𝘪𝘯𝘫𝘶𝘴𝘵𝘪𝘤𝘦 𝘣𝘦𝘤𝘰𝘮𝘦𝘴 𝘭𝘢𝘸, 𝘳𝘦𝘴𝘪𝘴𝘵𝘢𝘯𝘤𝘦 𝘣𝘦𝘤𝘰𝘮𝘦𝘴 𝘥𝘶𝘵𝘺.” He is also attributed to saying: "𝘐𝘧 𝘢 𝘭𝘢𝘸 𝘪𝘴 𝘶𝘯𝘫𝘶𝘴𝘵, 𝘢 𝘮𝘢𝘯 𝘪𝘴 𝘯𝘰𝘵 𝘰𝘯𝘭𝘺 𝘳𝘪𝘨𝘩𝘵 𝘵𝘰 𝘥𝘪𝘴𝘰𝘣𝘦𝘺 𝘪𝘵, 𝘩𝘦 𝘪𝘴 𝘰𝘣𝘭𝘪𝘨𝘢𝘵𝘦𝘥 𝘵𝘰 𝘥𝘰 𝘴𝘰.” Likewise, another rogue named Henry David Thoreau once said, "𝘋𝘪𝘴𝘰𝘣𝘦𝘥𝘪𝘦𝘯𝘤𝘦 𝘪𝘴 𝘵𝘩𝘦 𝘵𝘳𝘶𝘦 𝘧𝘰𝘶𝘯𝘥𝘢𝘵𝘪𝘰𝘯 𝘰𝘧 𝘭𝘪𝘣𝘦𝘳𝘵𝘺. 𝘛𝘩𝘦 𝘰𝘣𝘦𝘥𝘪𝘦𝘯𝘵 𝘮𝘶𝘴𝘵 𝘣𝘦 𝘴𝘭𝘢𝘷𝘦𝘴.” And the roguish Martin Luther King, Jr, whose birthday was yesterday, is quoted as saying, "𝘖𝘯𝘦 𝘩𝘢𝘴 𝘢 𝘮𝘰𝘳𝘢𝘭 𝘳𝘦𝘴𝘱𝘰𝘯𝘴𝘪𝘣𝘪𝘭𝘪𝘵𝘺 𝘵𝘰 𝘥𝘪𝘴𝘰𝘣𝘦𝘺 𝘶𝘯𝘫𝘶𝘴𝘵 𝘭𝘢𝘸𝘴.” This resistance and disobedience — i.e. going 𝙧𝙤𝙜𝙪𝙚 — is exactly what we need most today. Therefore, in an era where the so-called "sound money" of states is anything but, 𝗴𝗼𝗶𝗻𝗴 𝗿𝗼𝗴𝘂𝗲 𝘀𝗲𝗲𝗺𝘀 𝘁𝗵𝗲 𝗼𝗻𝗹𝘆 𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗰𝗵𝗼𝗶𝗰𝗲. Bitcoin, with its immutable rules and decentralized governance, stands as a bastion of monetary sanity in a world of fiscal chaos. George Orwell, a rogue if there ever was one! Be sure to 𝗟𝗶𝗸𝗲🤙 and 𝗦𝗵𝗮𝗿𝗲🔄 this so more people can learn why Bitcoin is rogue money. And 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this for quick reference later! How else is Bitcoin rogue money? Let me know in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

Exactly 15 years ago today, Hal Finney tweeted that he was “Running bitcoin”. This was the 𝘧𝘪𝘳𝘴𝘵 time that #Bitcoin would be mentioned on Twitter, shortly after Hal started running the Bitcoin protocol on his computer. He was the first person to do so, other than Satoshi Nakamoto. And no, it’s 𝘷𝘦𝘳𝘺 unlikely that Hal Finney was Satoshi Nakamoto. Recently, evidence has come to light in the form of a timestamped email conversation between Satoshi and Mike Hearn, which show they were sent 𝘄𝗵𝗶𝗹𝗲 𝗛𝗮𝗹 𝘄𝗮𝘀 𝗿𝘂𝗻𝗻𝗶𝗻𝗴 𝗮 𝟭𝟬 𝗺𝗶𝗹𝗲 𝗿𝗮𝗰𝗲. This, along with Hal’s repeated denials of being Satoshi, his reputation for 𝗵𝗼𝗻𝗲𝘀𝘁𝘆 𝗮𝗻𝗱 𝘀𝗶𝗻𝗰𝗲𝗿𝗶𝘁𝘆, and his coding style being *notably different* from Satoshi’s, make it 𝗽𝗿𝗮𝗰𝘁𝗶𝗰𝗮𝗹𝗹𝘆 𝗶𝗺𝗽𝗼𝘀𝘀𝗶𝗯𝗹𝗲 𝗳𝗼𝗿 𝗛𝗮𝗹 𝗙𝗶𝗻𝗻𝗲𝘆 𝘁𝗼 𝗵𝗮𝘃𝗲 𝗯𝗲𝗲𝗻 𝗦𝗮𝘁𝗼𝘀𝗵𝗶. Today, untold thousands are running Bitcoin on their personal computers, just like Hal. 𝘛𝘩𝘪𝘴 𝘧𝘶𝘳𝘵𝘩𝘦𝘳 𝘥𝘦𝘤𝘦𝘯𝘵𝘳𝘢𝘭𝘪𝘻𝘦𝘴 𝘵𝘩𝘦 𝘯𝘦𝘵𝘸𝘰𝘳𝘬, and improves the robustness of a money that enables individual empowerment for all who use it. 𝗧𝗵𝗮𝗻𝗸 𝘆𝗼𝘂, 𝗛𝗮𝗹, 𝗳𝗼𝗿 𝗿𝘂𝗻𝗻𝗶𝗻𝗴 𝗕𝗶𝘁𝗰𝗼𝗶𝗻. Had you not chosen to assist Satoshi Nakamoto when no one else would, we may not be where we are today.🧡

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Running bitcoin

𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝘁𝗼 𝘁𝗵𝗲…𝗠𝗲𝗿𝗰𝘂𝗿𝘆? 𝘠𝘰𝘶𝘳 𝘨𝘶𝘪𝘥𝘦 𝘵𝘰 𝘵𝘩𝘪𝘴 𝘪𝘯𝘯𝘰𝘷𝘢𝘵𝘪𝘷𝘦 𝘭𝘢𝘺𝘦𝘳 2 𝘱𝘳𝘰𝘵𝘰𝘤𝘰𝘭 A new scaling and privacy layer for #Bitcoin has been released: 𝗠𝗲𝗿𝗰𝘂𝗿𝘆 𝗟𝗮𝘆𝗲𝗿 Here’s what you should know about it👇 The Mercury Layer is a relatively new system designed to streamline Bitcoin transactions, making them faster and more cost-effective. Functioning as a 'second layer' over Bitcoin's base layer, it offers a way to transfer bitcoin 𝘸𝘪𝘵𝘩𝘰𝘶𝘵 𝘵𝘩𝘦 𝘶𝘴𝘶𝘢𝘭 𝘤𝘰𝘯𝘧𝘪𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘵𝘪𝘮𝘦𝘴 𝘰𝘳 𝘧𝘦𝘦𝘴, much like other layer 2 protocols like Lightning, Liquid, and ARK. When you transact in Bitcoin, you're essentially exchanging digital units of bitcoin called UTXOs (Unspent Transaction Outputs). Think of a UTXO as a digital version of cash, except it can be any amount, and not limited to 1s, 5s, 10s, etc. 𝗧𝗵𝗲 𝗠𝗲𝗿𝗰𝘂𝗿𝘆 𝗟𝗮𝘆𝗲𝗿 𝗲𝗻𝗮𝗯𝗹𝗲𝘀 𝘆𝗼𝘂 𝘁𝗼 𝘁𝗿𝗮𝗻𝘀𝗳𝗲𝗿 𝘁𝗵𝗲𝘀𝗲 𝗨𝗧𝗫𝗢𝘀 𝗱𝗶𝗿𝗲𝗰𝘁𝗹𝘆, akin to handing cash to a friend, without recording every transaction on Bitcoin's timechain. What makes Mercury stand out is its method for changing ownership of UTXOs. It cleverly uses divided parts of a digital key, akin to a shared secret. This key is essential for a user to prove their ownership of the UTXO. By altering parts of this key, 𝘆𝗼𝘂 𝗰𝗮𝗻 𝘁𝗿𝗮𝗻𝘀𝗳𝗲𝗿 𝗼𝘄𝗻𝗲𝗿𝘀𝗵𝗶𝗽 𝘀𝗺𝗼𝗼𝘁𝗵𝗹𝘆, avoiding the need to broadcast the transaction to the world. Mercury also incorporates backup transactions as a safety net. These act like emergency measures, allowing you to reclaim your Bitcoin, 𝗲𝘃𝗲𝗻 𝗶𝗳 𝘁𝗵𝗲 𝗦𝘁𝗮𝘁𝗲𝗰𝗵𝗮𝗶𝗻 𝗘𝗻𝘁𝗶𝘁𝘆, 𝗼𝗿 𝗦𝗘, 𝗱𝗼𝗲𝘀 𝗻𝗼𝘁 𝗰𝗼𝗼𝗽𝗲𝗿𝗮𝘁𝗲. This system ensures that only the current owner can use these backup measures, thereby preventing any fraudulent claims to your bitcoin. The process of using Mercury begins with an on-chain transaction of sending your UTXO to an address where 𝘣𝘰𝘵𝘩 𝘺𝘰𝘶 𝘢𝘯𝘥 𝘵𝘩𝘦 𝘚𝘌 have shared private key control. When transferring your UTXOs within the system, Mercury updates the secret key. Each time it's transferred, an updated emergency plan is created for the new owner. Mercury ensures transaction integrity by counting how many times it assists in transfers. However, it does not delve into transaction details, 𝘁𝗵𝘂𝘀 𝗺𝗮𝗶𝗻𝘁𝗮𝗶𝗻𝗶𝗻𝗴 𝘆𝗼𝘂𝗿 𝗽𝗿𝗶𝘃𝗮𝗰𝘆 𝘄𝗵𝗶𝗹𝗲 𝘀𝘁𝗶𝗹𝗹 𝘃𝗲𝗿𝗶𝗳𝘆𝗶𝗻𝗴 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 𝗹𝗲𝗴𝗶𝘁𝗶𝗺𝗮𝗰𝘆. When you're ready to exit Mercury back to Bitcoin’s base layer, you can close your transaction at will, finalizing it on Bitcoin's timechain. This closure 𝘦𝘯𝘴𝘶𝘳𝘦𝘴 𝘵𝘩𝘢𝘵 𝘵𝘩𝘦 𝘜𝘛𝘟𝘖 𝘤𝘢𝘯'𝘵 𝘣𝘦 𝘤𝘪𝘳𝘤𝘶𝘭𝘢𝘵𝘦𝘥 𝘸𝘪𝘵𝘩𝘪𝘯 𝘔𝘦𝘳𝘤𝘶𝘳𝘺 𝘢𝘨𝘢𝘪𝘯, keeping the process orderly and secure. However, 𝗲𝘃𝗲𝗿𝘆𝘁𝗵𝗶𝗻𝗴 𝗰𝗼𝗺𝗲𝘀 𝘄𝗶𝘁𝗵 𝘁𝗿𝗮𝗱𝗲𝗼𝗳𝗳𝘀, so it should be noted that Mercury requires 𝘴𝘰𝘮𝘦 trust in the system’s main coordinators, the Statechain Entities. While 𝘚𝘌𝘴 𝘤𝘢𝘯'𝘵 𝘮𝘰𝘷𝘦 𝘧𝘶𝘯𝘥𝘴 𝘰𝘯 𝘵𝘩𝘦𝘪𝘳 𝘰𝘸𝘯, their role is crucial, and their security and integrity are paramount. Another tradeoff is 𝘁𝗵𝗲 𝗿𝗶𝘀𝗸 𝗼𝗳 𝗻𝗲𝘁𝘄𝗼𝗿𝗸 𝗰𝗲𝗻𝘁𝗿𝗮𝗹𝗶𝘇𝗮𝘁𝗶𝗼𝗻. If a few SEs begin to dominate the Mercury system, it could centralize a significant portion of transaction facilitation. This would diverge from Bitcoin's decentralized ethos, so 𝘪𝘵’𝘴 𝘪𝘮𝘱𝘦𝘳𝘢𝘵𝘪𝘷𝘦 𝘵𝘩𝘦𝘳𝘦 𝘣𝘦 𝘢𝘴 𝘮𝘢𝘯𝘺 𝘚𝘌𝘴 𝘢𝘴 𝘱𝘰𝘴𝘴𝘪𝘣𝘭𝘦. The Mercury Layer introduces simplicity and enhanced security to Bitcoin transactions. It makes transferring bitcoin 𝘢𝘴 𝘦𝘢𝘴𝘺 𝘢𝘴 𝘦𝘹𝘤𝘩𝘢𝘯𝘨𝘪𝘯𝘨 𝘤𝘢𝘴𝘩, as long as concerns around trust, privacy, and centralization are mitigated. Mercury highlights Bitcoin's ongoing evolution, and is a further reminder that we're all still very, 𝘷𝘦𝘳𝘺 early. Remember to 𝗟𝗶𝗸𝗲🤙, 𝗦𝗵𝗮𝗿𝗲🔄, and 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this for later. What do 𝘺𝘰𝘶 think of the 𝗠𝗲𝗿𝗰𝘂𝗿𝘆 𝗟𝗮𝘆𝗲𝗿? Let me know in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗘𝗧𝗙 = 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗜𝗢𝗨 𝘈𝘷𝘰𝘪𝘥 𝘨𝘦𝘵𝘵𝘪𝘯𝘨 𝘳𝘶𝘨-𝘱𝘶𝘭𝘭𝘦𝘥 𝘣𝘺 𝘩𝘰𝘭𝘥𝘪𝘯𝘨 𝘺𝘰𝘶𝘳 𝘰𝘸𝘯 𝘱𝘳𝘪𝘷𝘢𝘵𝘦 𝘬𝘦𝘺𝘴 Some are saying that owning a #Bitcoin ETF equates to owning actual Bitcoin, but this is misleading at best. While it's true ETFs are 𝘭𝘪𝘯𝘬𝘦𝘥 to the underlying asset, the investor does not possess the actual bitcoin or their private keys. 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗼𝘄𝗻𝗲𝗿𝘀𝗵𝗶𝗽 𝗶𝘀 𝗳𝘂𝗻𝗱𝗮𝗺𝗲𝗻𝘁𝗮𝗹𝗹𝘆 𝗱𝗲𝗳𝗶𝗻𝗲𝗱 𝗯𝘆 𝘁𝗵𝗲 𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝘁𝗼 𝗰𝗼𝗻𝘁𝗿𝗼𝗹 𝗶𝘁 𝘃𝗶𝗮 𝗽𝗿𝗶𝘃𝗮𝘁𝗲 𝗸𝗲𝘆𝘀. ETFs provide exposure to Bitcoin's price movements, but not the asset itself. This structure suits those preferring indirect investment, but 𝗶𝘁 𝗹𝗮𝗰𝗸𝘀 𝘁𝗵𝗲 𝗮𝘂𝘁𝗼𝗻𝗼𝗺𝘆, 𝘀𝗲𝗰𝘂𝗿𝗶𝘁𝘆, 𝗮𝗻𝗱 𝗽𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹 𝗼𝗳 𝗵𝗼𝗹𝗱𝗶𝗻𝗴 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗱𝗶𝗿𝗲𝗰𝘁𝗹𝘆. It's a trade-off between 𝘤𝘰𝘯𝘷𝘦𝘯𝘪𝘦𝘯𝘤𝘦 and 𝘵𝘩𝘦 𝘤𝘰𝘳𝘦 𝘱𝘳𝘪𝘯𝘤𝘪𝘱𝘭𝘦𝘴 of Bitcoin ownership. It’s argued by some that ETFs offer “depository receipts” for Bitcoin, but this drastically oversimplifies the relationship. The 𝘤𝘶𝘴𝘵𝘰𝘥𝘪𝘢𝘯 holds the Bitcoin, not the investor. This setup 𝗶𝗻𝘁𝗿𝗼𝗱𝘂𝗰𝗲𝘀 𝗹𝗮𝘆𝗲𝗿𝘀 𝗼𝗳 𝗿𝗶𝘀𝗸, including counterparty and regulatory risks, which are absent in direct Bitcoin ownership. The essence of Bitcoin's value proposition is in its decentralization and resistance to censorship, which 𝗶𝘀 𝗼𝗻𝗹𝘆 𝗴𝘂𝗮𝗿𝗮𝗻𝘁𝗲𝗲𝗱 𝘁𝗵𝗿𝗼𝘂𝗴𝗵 𝗱𝗶𝗿𝗲𝗰𝘁 𝗽𝗼𝘀𝘀𝗲𝘀𝘀𝗶𝗼𝗻. Holding an ETF strips away these fundamental benefits, leaving investors with a 𝘥𝘪𝘭𝘶𝘵𝘦𝘥 version of Bitcoin's revolutionary potential. Remember to 𝗟𝗶𝗸𝗲🤙 and 𝗦𝗵𝗮𝗿𝗲🔄 this so more people can be reminded to hold their own private keys, not an ETF. And 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 it so you can share it with anyone who thinks owning a Bitcoin ETF is the same as owning Bitcoin itself.

𝗚𝗶𝘃𝗶𝗻𝗴 𝘁𝗵𝗲 𝗚𝗶𝗳𝘁 𝗼𝗳 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗧𝗵𝗶𝘀 𝗬𝗲𝗮𝗿? Here are a few suggestions to ensure the best experience. First, it’s recommended that you use services like @lightsats or @River, which provide a user-friendly way to gift #bitcoin to someone, along with step-by-step instructions on how the bitcoin can be claimed. 𝘛𝘩𝘪𝘴 𝘦𝘭𝘪𝘮𝘪𝘯𝘢𝘵𝘦𝘴 𝘵𝘩𝘦 𝘯𝘦𝘦𝘥 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘳𝘦𝘤𝘪𝘱𝘪𝘦𝘯𝘵 𝘵𝘰 𝘩𝘢𝘷𝘦 𝘵𝘦𝘤𝘩𝘯𝘪𝘤𝘢𝘭 𝘦𝘹𝘱𝘦𝘳𝘵𝘪𝘴𝘦, so they can receive and store their bitcoin safely and easily. Additionally, it’s important to provide them with advice on how they should custody their bitcoin. This includes explaining 𝘁𝗵𝗲 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝗰𝗲 𝗼𝗳 𝘀𝗲𝗰𝘂𝗿𝗶𝗻𝗴 𝘁𝗵𝗲𝗶𝗿 𝗽𝗿𝗶𝘃𝗮𝘁𝗲 𝗸𝗲𝘆𝘀, and the potential risks associated with 𝘀𝘁𝗼𝗿𝗶𝗻𝗴 𝘁𝗵𝗲𝗶𝗿 𝗯𝗶𝘁𝗰𝗼𝗶𝗻 𝗶𝗻 𝗮 “𝗵𝗼𝘁 𝘄𝗮𝗹𝗹𝗲𝘁”, or an app that’s connected to the internet. Encouraging the use of hardware signing devices can help protect their bitcoin from potential theft or loss. And lastly, the recipient should be informed that for the time being, 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗶𝘀 𝗺𝗼𝗿𝗲 𝗼𝗳 𝗮 𝘀𝘁𝗼𝗿𝗲 𝗼𝗳 𝘃𝗮𝗹𝘂𝗲 𝘁𝗵𝗮𝗻 𝗮 𝗺𝗲𝗱𝗶𝘂𝗺 𝗼𝗳 𝗲𝘅𝗰𝗵𝗮𝗻𝗴𝗲, so their bitcoin gift should be kept somewhere safe for several years while Bitcoin matures in price and acceptance. They’ll need to understand that despite Bitcoin’s volatility, 𝘯𝘰 𝘣𝘪𝘵𝘤𝘰𝘪𝘯 𝘵𝘩𝘢𝘵 𝘸𝘢𝘴 𝘩𝘦𝘭𝘥 𝘧𝘰𝘳 𝘢𝘯𝘺 4 𝘺𝘦𝘢𝘳 𝘱𝘦𝘳𝘪𝘰𝘥 𝘰𝘳 𝘮𝘰𝘳𝘦 𝘩𝘢𝘴 𝘭𝘰𝘴𝘵 𝘱𝘶𝘳𝘤𝘩𝘢𝘴𝘪𝘯𝘨 𝘱𝘰𝘸𝘦𝘳, so they should treat this as a gift that will help them in the long-term. By providing guidance on these matters, your friend or family member can make informed decisions about how to handle their bitcoin gift and ensure its safekeeping. If they follow your instructions, 𝘵𝘩𝘦𝘺 𝘸𝘪𝘭𝘭 𝘣𝘦𝘯𝘦𝘧𝘪𝘵 𝘧𝘳𝘰𝘮 𝘪𝘵 𝘨𝘳𝘦𝘢𝘵𝘭𝘺, not only financially, but also simply by owning some money that’s outside the control of the central banking system. And even if you aren’t planning on gifting bitcoin to anyone this year, whether because you don’t want to or because you don’t celebrate Christmas, the suggestions above will still be helpful if you choose to give someone bitcoin at a different time. Regardless, I would like to wish you a good weekend, a merry Christmas, and a happy new year! Make sure you 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this, in case you want to gift a friend some sats later. And give this a 𝗟𝗶𝗸𝗲🤙 and a 𝗦𝗵𝗮𝗿𝗲🔄, so those who want to gift bitcoin to others will know how to do it. Know any other ways to give bitcoin as a gift? Let me know in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

𝗛𝗮𝘃𝗲 𝗕𝗶𝘁𝗰𝗼𝗶𝗻-𝗿𝗲𝗹𝗮𝘁𝗲𝗱 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀? 𝗔𝘀𝗸 𝗦𝗮𝘁𝗼𝘀𝗵𝗶𝗚𝗣𝗧! SatoshiGPT is your maximalist assistant for tackling tough questions about #Bitcoin better than ChatGPT. “𝘐𝘴 𝘉𝘪𝘵𝘤𝘰𝘪𝘯 𝘮𝘪𝘯𝘪𝘯𝘨 𝘩𝘢𝘳𝘮𝘧𝘶𝘭 𝘵𝘰 𝘵𝘩𝘦 𝘦𝘯𝘷𝘪𝘳𝘰𝘯𝘮𝘦𝘯𝘵?” “𝘐𝘴 𝘱𝘳𝘰𝘰𝘧 𝘰𝘧 𝘴𝘵𝘢𝘬𝘦 𝘣𝘦𝘵𝘵𝘦𝘳 𝘵𝘩𝘢𝘯 𝘱𝘳𝘰𝘰𝘧 𝘰𝘧 𝘸𝘰𝘳𝘬?” “𝘚𝘩𝘰𝘶𝘭𝘥 𝘐 𝘣𝘶𝘺 𝘌𝘵𝘩𝘦𝘳𝘦𝘶𝘮?” These and other questions are easily answered by SatoshiGPT!

𝗞𝗲𝗲𝗽 𝗬𝗼𝘂𝗿 𝗠𝗼𝗻𝗲𝘆 𝗦𝗮𝗳𝗲: 𝗖𝗵𝗼𝗼𝘀𝗲 𝗢𝗽𝗲𝗻 𝗦𝗼𝘂𝗿𝗰𝗲 There has been a lot of talk about a recently disclosed problem with the Ledger hardware wallet, and whether it’s safe to use it for storing your #bitcoin offline. Ultimately, this choice is up to you, but 𝘵𝘩𝘦 𝘪𝘮𝘱𝘰𝘳𝘵𝘢𝘯𝘤𝘦 𝘰𝘧 𝘶𝘴𝘪𝘯𝘨 𝘢 𝘧𝘶𝘭𝘭𝘺 𝘰𝘱𝘦𝘯 𝘴𝘰𝘶𝘳𝘤𝘦 𝘩𝘢𝘳𝘥𝘸𝘢𝘳𝘦 𝘸𝘢𝘭𝘭𝘦𝘵 𝘵𝘰 𝘴𝘪𝘨𝘯 𝘵𝘳𝘢𝘯𝘴𝘢𝘤𝘵𝘪𝘰𝘯𝘴 𝙘𝙖𝙣𝙣𝙤𝙩 𝘣𝘦 𝘰𝘷𝘦𝘳𝘴𝘵𝘢𝘵𝘦𝘥. More on this below👇 While hardware wallets in general can be an excellent method for storing your bitcoin long-term, 𝘰𝘱𝘦𝘯 𝘴𝘰𝘶𝘳𝘤𝘦 𝘩𝘢𝘳𝘥𝘸𝘢𝘳𝘦 𝘸𝘢𝘭𝘭𝘦𝘵𝘴 𝘰𝘧𝘧𝘦𝘳 𝘢 𝘩𝘪𝘨𝘩𝘦𝘳 𝘥𝘦𝘨𝘳𝘦𝘦 𝘰𝘧 𝘴𝘦𝘤𝘶𝘳𝘪𝘵𝘺. Such devices allow for public verification of the device’s entire operation. In the spirit of "𝘥𝘰𝘯'𝘵 𝘵𝘳𝘶𝘴𝘵, 𝘷𝘦𝘳𝘪𝘧𝘺," open source hardware wallets align with Bitcoin’s fundamental ethos. Open source hardware wallets receive development contributions from the wider community, leading to 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗼𝘂𝘀 𝗶𝗺𝗽𝗿𝗼𝘃𝗲𝗺𝗲𝗻𝘁𝘀, 𝗯𝘂𝗴 𝗳𝗶𝘅𝗲𝘀, 𝗮𝗻𝗱 𝗳𝗲𝗮𝘁𝘂𝗿𝗲 𝗲𝗻𝗵𝗮𝗻𝗰𝗲𝗺𝗲𝗻𝘁𝘀. Closed source wallets, on the other hand, rely solely on their own development team, limiting the pace and diversity of improvements. They can also continue to be improved and iterated upon, when their parent company no longer supports it, or if they close down entirely. The broader community can continue to maintain and update the wallet’s design and software, leading to an 𝗲𝘃𝗲𝗿-𝗲𝘃𝗼𝗹𝘃𝗶𝗻𝗴 𝗽𝗿𝗼𝗱𝘂𝗰𝘁 that will be useful to more users. There are several available options for fully open source hardware wallets, including the ColdCard by @Coinkite (old npup), Passport by @Foundation, and the @SeedSigner. There are other hardware wallets that are 𝘱𝘢𝘳𝘵𝘪𝘢𝘭𝘭𝘺 open source, like the BitBox02, KeepKey, and even Ledger, but they each have elements that are closed source. And today actually marks 𝗲𝘅𝗮𝗰𝘁𝗹𝘆 𝟲 𝘆𝗲𝗮𝗿𝘀 since the ColdCard was first released!🎉 While I am not endorsing one specific hardware wallet over another, it might be worth it to at least check it out on Coinkite’s website, especially on its 6th birthday.😉 Open source hardware wallets provide superior transparency, security, and community support. They’re aligned with Bitcoin’s core principles, making them a preferable choice for user autonomy over closed source options. Remember to give this a 𝗟𝗶𝗸𝗲🤙, and 𝗦𝗵𝗮𝗿𝗲🔄 it with others, so they can also keep their bitcoin safe and offline. And be sure to 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this so you can reference it later, when buying a hardware wallet. Know any other advantages of open source over closed source? Let me know in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

𝗠𝗲𝗺𝗲𝘀: 𝘁𝗵𝗲 𝗨𝗻𝗱𝗲𝗿𝗿𝗮𝘁𝗲𝗱 𝗦𝗶𝗱𝗲 𝗼𝗳 𝗢𝗿𝗮𝗻𝗴𝗲 𝗣𝗶𝗹𝗹𝗶𝗻𝗴 (𝘉𝘦 𝘴𝘶𝘳𝘦 𝘵𝘰 𝘳𝘦𝘢𝘥 𝙖𝙡𝙡 𝘰𝘧 𝘵𝘩𝘪𝘴, 𝘧𝘰𝘳 𝘢 𝘤𝘩𝘢𝘯𝘤𝘦 𝘵𝘰 𝘸𝘪𝘯 5𝘒 𝘴𝘢𝘵𝘴!) Imagine your friend is just starting their journey down the #Bitcoin rabbit hole. They’re learning all about how Bitcoin works and why it’s needed, but then they start hearing references that you and other bitcoiners understand, but they don’t. Hodl? 6.15? Boating accidents? 𝘞𝘩𝘢𝘵 𝘥𝘰 𝘵𝘩𝘦𝘴𝘦 𝘮𝘦𝘢𝘯? You would love to explain these to them, but… Fortunately, 𝗻𝗼𝘄 𝘆𝗼𝘂 𝗰𝗮𝗻 𝗹𝗲𝗮𝘃𝗲 𝘁𝗵𝗲 𝗲𝘅𝗽𝗹𝗮𝗻𝗮𝘁𝗶𝗼𝗻𝘀 𝘁𝗼 𝗺𝗲. 😁 I’m not limited to answering questions about Bitcoin and Austrian economics; I can also onboard new bitcoiners to the 𝘤𝘶𝘭𝘵𝘶𝘳𝘦 that has arisen in the Bitcoin space. Helping those new here understand Bitcoin’s social layer is 𝘤𝘳𝘶𝘤𝘪𝘢𝘭 for hyperbitcoinization. So my first meme explanation will be about the word “meme” itself. A meme doesn’t have to be a picture with a clever caption. Memes are 𝗮𝗻𝘆 𝗶𝗱𝗲𝗮𝘀, 𝗯𝗲𝗵𝗮𝘃𝗶𝗼𝗿𝘀, 𝗼𝗿 𝘀𝘁𝘆𝗹𝗲𝘀 𝘁𝗵𝗮𝘁 𝘀𝗽𝗿𝗲𝗮𝗱 𝘄𝗶𝘁𝗵𝗶𝗻 𝗮 𝗰𝘂𝗹𝘁𝘂𝗿𝗲. Think of them as 𝘪𝘯𝘴𝘪𝘥𝘦 𝘫𝘰𝘬𝘦𝘴, but for 𝘢 𝘭𝘢𝘳𝘨𝘦 𝘤𝘰𝘮𝘮𝘶𝘯𝘪𝘵𝘺. Memes spread on the internet the way genes spread biological information. In fact, the word “meme” was first used by Richard Dawkins in his book, "𝘛𝘩𝘦 𝘚𝘦𝘭𝘧𝘪𝘴𝘩 𝘎𝘦𝘯𝘦". It comes from the Greek “mimeme”, which means "𝘵𝘩𝘢𝘵 𝘸𝘩𝘪𝘤𝘩 𝘪𝘴 𝘪𝘮𝘪𝘵𝘢𝘵𝘦𝘥". So watch for more posts in the near future that explain the meaning and background of various Bitcoin memes. Remember to 𝗟𝗶𝗸𝗲🤙, and then 𝗦𝗵𝗮𝗿𝗲🔄 them with those who aren’t bitcoiners yet, so they too can be one of us. The first person (or the closest after 24 hours) to tell me the correct number of memes in this post will receive 𝟱𝗞 𝘀𝗮𝘁𝘀! Leave your guess in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️, and I’ll zap the sats to you.