2023-10-15T23:16:31Z https://yabu.me Finney21 https://yabu.me/npub1ks2lwal5ewlzpsgvtsc82kteszpyvnjcnfypmzepw5kd3pvaxtaq9fpkex https://nostrcheck.me/media/public/nostrcheck.me_4198706451837306151696680920.webp https://nostrcheck.me/media/public/nostrcheck.me_4198706451837306151696680920.webp https://yabu.me/nevent1qqswh4qcgfn3a09rm336wpcdnqcxxsxcey0urpum4wrnvx08cgj0m9czyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05s9wrs8 Terminology microdose:<br/><br/>Bitcoin (capital B) refers to the network through which the asset is created and moved around<br/><br/>bitcoin (lowercase b) refers to the asset which is the unit of currency of the #Bitcoin network 2024-02-24T15:52:11Z https://yabu.me/nevent1qqsvat64gxj06f9mlmmwk7aprfnhlrgrwltkg3hmuwz6dnwm2lr4dngzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05entfn3 Scarce things:<br/><br/>#bitcoin<br/>Block space<br/>Time with a #Bitcoin consultant 2024-01-11T13:37:52Z https://yabu.me/nevent1qqsves5u55npwyl7dqzgvpc9ugref4vxcgwsz3y4k0v9zwu2zkwa3aqzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e058q20vh Been a while. Time for some updates<br/><br/>Finney21 is a 21 person team of hardcore Wealth Consultants<br/><br/>Wealth = Health &amp; #Bitcoin<br/><br/>Each team member has a unique specialty<br/><br/>Each team member is a guardian in our Fedimint<br/><br/>We gather every week on a 60 minute call to discuss a topic<br/><br/>We each contribute to and curate a world class resource library<br/><br/>We honour the legacy of Satoshi Nakamoto and Hal Finney by working together to accelerate the transition to scarce money 2024-01-11T13:36:31Z https://yabu.me/nevent1qqsxcfta5h0f6ldc98u3mexlsyrk92nflkdkf2vmpg03cc2p3pu79pczyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e057p6qeq P01 - shopify opportunity: raw notes2_unsorted [11.7.23 - block 815,736]<br/><br/>Insights from conversation with Santosh<br/>—<br/>Intuitive merchant experience is essential. 1 click merchant wallet activation with 10,000 sats<br/><br/>Opportunity for Shopify: become the LSP that routes all merchant bitcoin payments<br/><br/>Brand image boost by helping merchants protect themselves from the monetary debasement <br/><br/>The first interaction is what matters. Goal is to get a second interaction<br/><br/>Success = continuing to have interactions with Shopify<br/><br/>Approach Shopify through fiat lens, not through Bitcoin lens<br/><br/>Emphasize benefit to Shopify shareholders<br/><br/>Consideration: how will the market perceive this decision? What could be the consequences on Shopify share price<br/><br/>Visa’s pitch: data, data, data<br/><br/>Bitcoin’s pitch: convenience, global acceptance, reduction of barriers<br/><br/>Customers no longer need a bank account to purchase from Shopify merchants (this is huge)<br/><br/>Someone from rural Africa without a bank account that has an internet connection can make a purchase from a shopify merchant in Argentina<br/><br/>Merchant in Argentina can protect themselves from inflation and trade with customer in Africa who doesn’t have a bank account<br/><br/>This is the power of Bitcoin - the digitally native money built for the global internet economy<br/><br/>Consider consequences on current payment methods<br/><br/>First interaction: think big, tone down the Bitcoin and turn up the benefits to shareholders and merchants<br/><br/>Next step: big brain consultant call. Collaborate on drafting an open letter<br/><br/>One page open letter to Shopify. Handwrite the letter? Print on nice paper? From Satoshi? Orange envelope with a ₿ stamped/painted on it<br/><br/>Stakeholders: Shareholders, company (brand image), customers (merchants)<br/><br/>Define stakeholders, explain how Bitcoin benefits each stakeholder<br/><br/>#Bitcoin integration with Strike: How was it perceived? What’s the internal company impression of Bitcoin?<br/><br/>There could already be a Shopify team already researching or implementing a bitcoin payments project <br/><br/>Understand Shopify’s pain points<br/><br/>Bitcoin unlocks payments without barriers (1.4 billion unbanked people)<br/><br/>Keep the letter simple, playful, to the point<br/><br/>Paint a picture of what Shopify could look like in 2033 with bitcoin payments enabled<br/><br/>Someone with an internet connection in rural Africa buys something from a merchant in Argentina<br/><br/>Merchant subscriptions could be paid in bitcoin<br/><br/>Project objective: Educate and train a Shopify Bitcoin team<br/><br/>Challenge: selling Shopify on a solution to a problem they may not even know they have<br/><br/>Step 1: bring awareness to the problem 2023-11-07T22:54:41Z https://yabu.me/nevent1qqsqfqcgne2wls7h54myqfyzf5gzxf2xh0wqx03y0zmf85n5r8u5shqzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05cc7hxh P01 - shopify opportunity: raw notes_unsorted [11.6.23 - block 815,615]<br/><br/>Building on #Bitcoin <br/><br/>21st century ecommerce on top of a digitally native, global, decentralized, open monetary protocol called #Bitcoin<br/>—<br/><br/>Write an open letter to Toby and Shopify board of directors<br/><br/>Also send letter to VPs of engineering<br/><br/>Encourage everyone to study the Bitcoin Whitepaper. It’s a miraculous innovation in computer science<br/><br/>The 21st century digital economy is built on a global, decentralized monetary protocol called Bitcoin<br/><br/>Shopify can supercharge their e-commerce platform by integrating lightning payments and merchant wallets<br/><br/>7 person team: wallet software engineer, lightning software engineer, Ux designer for merchant wallet and payments, lightning architect, educator, comms/fixer, leader to nurture key relationships<br/><br/>1 month of planning, 6 month execution to ship merchant wallet (60 days) and turnkey lightning implementation for merchants<br/><br/>Do everything open source and in alignment with Bitcoin<br/><br/>Educate Shopify staff. Empower them with Bitcoin. Pay them their first 21,000 sats to learn about Bitcoin<br/><br/>Educate Shopify merchants. Empower them with Bitcoin so they can protect themselves from currency debasement that is threatening their business<br/><br/>Merchant benefit: a new cohort of customers who want to spend Bitcoin, lower transaction fees (0.5% routing fees to shopify)<br/><br/>Bitcoin protects merchants from central banks who are debasing currencies and devastating their businesses<br/><br/>Building on Bitcoin is good for the world, good for Shopify’s merchants, and good for Shopify’s shareholders <br/><br/>Shopify has an opportunity to pioneer the 21st century digital economy built on a digitally native monetary protocol called Bitcoin <br/><br/>Big events to announce the integrations when they are ready. Pilot and beta test everything in house within shopify<br/><br/>To cover in open letter (unpacked for presentation):<br/>1. Why does Bitcoin (not crypto) matter? <br/>2. How can Shopify benefit from integrating Bitcoin?<br/>3. How can Shopify merchants benefit from Bitcoin?<br/>4. What business opportunities are available to shopify?<br/>5. What does the execution look like for integrating Bitcoin?<br/>6. Read the whitepaper<br/><br/>Revenue generator: Shopify becomes the LSP for 1.75 million merchants<br/><br/>Merchant Ux: Bitcoin dashboard, merchant wallet, non custodial mobile companion wallet<br/><br/>Customer Ux: Bitcoin payment checkout (lightning)<br/><br/>Bitcoin is a superior payment network for the global digital economy. The protocol is open, global, decentralized, and digitally native<br/><br/>21st century digital money for 21st century digital merchants<br/><br/>Merchant benefits: lower transaction fees, instant settlement, no chargebacks, new customer base of people who want to spend bitcoin<br/><br/>Activate your shopify merchant wallet. We send you your first 21 satoshis when you do that. Education video, 1 click activation<br/><br/>Companion mobile wallet for merchants to track their store wallet balance and take self custody of satoshis<br/> 2023-11-06T20:48:01Z https://yabu.me/nevent1qqs2qm2qnexcmdzw5ntdgutuwtec4vrm45e7vrqupqtx7h6pfwrlpngzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05685d4v <blockquote class="border-l-05rem border-l-strongpink border-solid"><div class="-ml-4 bg-gradient-to-r from-gray-100 dark:from-zinc-800 to-transparent mr-0 mt-0 mb-4 pl-4 pr-2 py-2">quoting <span itemprop="mentions" itemscope itemtype="https://schema.org/Article"><a itemprop="url" href="/note1j0ukqesgu54kq5drncltxsh4quzn60hprtwg376nf857qfg0t2eqtxsw46" class="bg-lavender dark:prose:text-neutral-50 dark:text-neutral-50 dark:bg-garnet px-1">note1j0u…sw46</a></span> </div> The #Bitcoin Halving cycle is a mechanism which cuts the block reward for mining in half every 210,000 blocks (~every four years).<br/><br/>Put simply, Bitcoin’s monetary inflation rate exponentially decreases every 4 years until all 21 million bitcoins have been mined, around 2140.<br/><br/>How do we know the #Bitcoin  Halving will occur every four years? <br/><br/>Because of the Difficulty Adjustment, which happens every 2016 blocks (~2 weeks) & ensures the time taken to mine a block remains ~10 minutes, regardless of the total computational power (hashrate) of the network.<br/><br/>Every 2016 blocks (2 weeks) the #Bitcoin  protocol performs a check to determine the Difficulty Adjustment: <br/><br/>If blocks were mined faster than every 10 minutes on average during this period, the difficulty increases. <br/><br/>If blocks were mined slower, the difficulty decreases.<br/><br/>#BITCOIN  MATH FUN FACT:<br/><br/>At the end of each halving cycle, the percentage of total Bitcoin left to be mined corresponds to the block reward from the previous cycle, expressed as a % of the total supply of 21 million bitcoin.<br/><br/>After each #Bitcoin  halving cycle, approximately 50% of the remaining Bitcoin to ever be mined is issued in that cycle.<br/><br/>In the current cycle, the block reward is 6.25 bitcoin. At the beginning of this cycle, there were about 18.375 million bitcoin in existence (87.5% of the total supply), leaving 12.5% (or 2.625 million bitcoin) yet to be mined.<br/><br/>At the end of this cycle, which is less than 25,000 blocks away, the block reward will halve to 3.125 bitcoin. By this time, we'll have about 19.6875 million bitcoin in existence (93.75% of the total supply), leaving 6.25% (or 1.3125 million bitcoin) yet to be mined, which matches the block reward from this cycle.<br/>#Bitcoin101 <br/>#AnotherFuckingBitcoinPodcast <br/><br/>H/t to <span itemprop="mentions" itemscope itemtype="https://schema.org/Person"><a itemprop="url" href="/npub14uhkst639zvc2trx2nlsvk4yqkjp690zk89keytnzgmq2az0qmnq58ez89" class="bg-lavender dark:prose:text-neutral-50 dark:text-neutral-50 dark:bg-garnet px-1"><span>w_s_bitcoin</span> (<span class="italic">npub14uh…ez89</span>)</a></span> for the visuals I used in this episode:<br/><br/><a href="https://youtu.be/Zvu85E9tBxo">https://youtu.be/Zvu85E9tBxo</a> </blockquote><br/><br/>Halving &amp; difficulty adjustment<br/> 2023-11-06T19:56:04Z https://yabu.me/nevent1qqstx64mdzzxq95a2v72u3y80lkvvu6xlr2tyt67wv05mutl63nqhhszyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05kaqx38 P01 presentation notes [11.1.23 - block 814,886]<br/><br/>#Bitcoin is not a hedge by Parker Lewis [34min]<br/>—<br/>Bitcoin isn’t a hedge to inflation, it’s the solution to inflation<br/><br/>Bitcoin only. Not crypto<br/><br/>There will only ever be 21 million bitcoin<br/><br/>Bitcoin is a form of money that cannot be printed<br/><br/>Economic systems converge on a single form of money. We only need a single form of money<br/><br/>People cannot flee to the safety of something they do not understand<br/><br/>Less than 1% of people currently understand and have material exposure to bitcoin<br/><br/>Adoption occurs as knowledge distributes<br/><br/>Why is Bitcoin valuable? 21 million fixed supply, censorship resistant, trustless<br/><br/>What problem does Bitcoin solve? Money printing (which creates inflation)<br/><br/>World events demonstrate the reason Bitcoin exists. Canadian freedom convoy, 2023 bank failures<br/><br/>Knowledge distributes as a function of time<br/><br/>People move from trading bitcoin to get more dollars to accumulating bitcoin because it is replacing the dollar<br/><br/>“If you understand bitcoin, there’s no way you only own 1%” - Michael Saylor<br/><br/>Every fundamental of Bitcoin is currently very strong<br/><br/>Nearly 70% of bitcoin has not moved in over a year<br/><br/>The Halving is the most important market event in Bitcoin<br/><br/>Bitcoin becomes more scarce every year especially during halving years<br/><br/>92.9% of all bitcoin that will ever be created has already been issued as of today<br/><br/>Injection of new dollars induces the expansion of credit<br/><br/>Without printing more money, the debt system collapses<br/><br/>“bitcoin is the only large tradeable asset in the world that has a known fixed maximum supply” - Paul Tudor Jones (May 2020)<br/><br/>Only a better form of money can fix a broken money<br/><br/>The fiat system becomes more fragile when exposed to stress. Bitcoin gains strength when exposed to stress<br/><br/>Bitcoin functions best in a world without bailouts<br/><br/>Bitcoin is the greatest asymmetry to ever exist<br/><br/>Most asymmetrical events are low probability. Adoption of Bitcoin is an asymmetrical event that is highly probable<br/><br/>If they printed $5 trillion last time, they will need to print much more the next time (which seems to be getting very close)<br/><br/>There is no top to global adoption of bitcoin as money<br/><br/>Bitcoin’s scarcity is not valuable without education and security 2023-11-01T22:01:36Z https://yabu.me/nevent1qqs2j39e2gm5szv2h7xq9xp9hkynhhxeu95gj5275v4vr93nq3kgnuszyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05taarr3 2023 Whitepaper Event<br/><br/>Hosted by <span itemprop="mentions" itemscope itemtype="https://schema.org/Person"><a itemprop="url" href="/npub1y6fgn44qqnt3szsqvu4xklfm4m7sg2lw2kf4qel8qmwd2q875l0sky3u6x" class="bg-lavender dark:prose:text-neutral-50 dark:text-neutral-50 dark:bg-garnet px-1"><span>Cari₿ou</span> (<span class="italic">npub1y6f…3u6x</span>)</a></span> with <span itemprop="mentions" itemscope itemtype="https://schema.org/Person"><a itemprop="url" href="/npub1f7ptem2ztp9x4n7w62n90ddv40z0jrt4490d8lug3uasfwyjsccqkknerm" class="bg-lavender dark:prose:text-neutral-50 dark:text-neutral-50 dark:bg-garnet px-1"><span>studentofbitcoin</span> (<span class="italic">npub1f7p…nerm</span>)</a></span> <span itemprop="mentions" itemscope itemtype="https://schema.org/Person"><a itemprop="url" href="/npub1pwz3959npp8rvrtdyc3g022dz594klp0q5rxtqsw63grhe58anhsh3tdyp" class="bg-lavender dark:prose:text-neutral-50 dark:text-neutral-50 dark:bg-garnet px-1"><span>Luke Broyles</span> (<span class="italic">npub1pwz…tdyp</span>)</a></span> and Dan Ostermayer sharing their wisdom and insights on the #Bitcoin Whitepaper and Self Custody<br/><br/>Listen to the podcast:<br/><a href="https://fountain.fm/episode/TVPSIKBIPtQdodtd5B4u">https://fountain.fm/episode/TVPSIKBIPtQdodtd5B4u</a><br/><br/>Or watch on Youtube:<br/><a href="https://youtu.be/eT-qP2_QGFw?si=hou9E5Bf635Ng21x">https://youtu.be/eT-qP2_QGFw?si=hou9E5Bf635Ng21x</a><br/> 2023-11-01T16:48:20Z https://yabu.me/nevent1qqsvavtgh205pqr5cukdys73htet2k4etwcjh76t8dz34cq66xrghpczyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05ng0507 P01 study notes [10.30.23 - block 814,552]<br/><br/>Topic: Bitcoin collateralized loans [subtopic: bitcoin as pristine collateral]<br/>—<br/>Anything can act as collateral but several objective properties can be used to evaluate the quality of collateral<br/><br/>Poor collateral: currency deposits, machinery, inventory<br/><br/>Good collateral: real estate, stocks, treasuries<br/><br/>Pristine collateral: bitcoin<br/><br/>Properties that determine quality of collateral: <br/><br/>Market liquidity: How quickly and easily an asset can be sold<br/><br/>Settlement: The ease and speed of achieving final transfer of ownership<br/><br/>Security: Ability to secure an asset<br/><br/>bitcoin is pristine collateral because it trades 24/7 365 days a year on a global market (highly liquid), can be settled globally within 60 minutes in any amount for a relatively low fee, and can easily be secured with digital encryption instead of being physically secured<br/><br/>Compared to bitcoin, real estate an inferior form of collateral because it is relatively illiquid, has rigorous and costly settlement (verification of title, transfer of ownership), and is limited to a local market because the asset cannot be moved globally<br/><br/>Implications: With treasuries and currencies collapsing, the quality of any collateral denominated in currency is eroding<br/><br/>bitcoin is quickly becoming the apex form of collateral globally and eventually become the preferred form of collateral for banks to hold on their balance sheets<br/><br/>#bitcoin is the reserve asset of the internet economy and the most pristine form of collateral humanity has ever seen!! 2023-10-30T17:40:52Z https://yabu.me/nevent1qqszjerncfglp64nrd0qpq3f4jsspnqt7c2jtm5rfj2fmytjpeks5qczyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05frlgq6 P01 proof of study<br/><br/>Notes session 10.27.23 [814084]<br/><br/>Topic: Bitcoin collateralized loans [subtopic: rehypothecation]<br/>—<br/>Hypothecation is a process where a lender receives an asset offered as collateral security<br/><br/>Rehypothecation is the process where a lender reuses collateral provided by their clients (the borrower) to earn income or secure further borrowing<br/><br/>When a lender rehypothecates borrower collateral, it significantly increase exposure to counterparty risk<br/><br/>While lenders who rehypothecate often offer lower interest rates on collateralized loans, the tradeoffs is borrower collateral being put at increased risk<br/><br/>Before sending bitcoin to a lender, a borrower should first make an assessment of the credit risk of the lender<br/><br/>With rehypothecation, the credit risk of borrowers to which the lender is lending the rehypothecated collateral to must also be assessed<br/><br/>We recommend clients only initiate bitcoin collateralized loans with lenders who do not rehypothecate collateral in order to eliminate the added risk created by rehypothecation<br/><br/>How your collateral is stored should also be considered. Multiparty collaborative custody and the ability to monitor funds on chain by holding 1 of n keys is the gold standard<br/><br/>This enables borrowers to cryptographically verify that their bitcoin collateral remains in a dedicated address and has not been rehypothecated<br/><br/>Rates on bitcoin collateralized loans must be adjusted for risk. Lenders who employ transparent custody practices and do not rehypothecate will charge a higher interest rate<br/><br/>With bitcoin poised to become the future reserve currency of the world, we feel it makes little sense to accept higher risk of loss for a slightly lower interest rate on loans<br/><br/>Unchained capital currently offers what we consider to be the gold standard product when it comes to bitcoin backed loans<br/><br/>Unchained does not rehypothecate client collateral and use a transparent multiparty multisig custody strategy whereby lenders hold 1 of 3 keys and verify their bitcoin on chain<br/><br/>--<br/>21min 2023-10-27T17:00:16Z https://yabu.me/nevent1qqst0pg7nkq0379yqzmlgrn5ea6kr0e5r76s4kutmn32f7nm5gkdl6gzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e053zn852 #Bitcoin Consulting Network<br/><br/>Call #1: October 2023<br/><br/><a href="https://fountain.fm/episode/4Mv1ZOQVqX1ZZs9j4XnP">https://fountain.fm/episode/4Mv1ZOQVqX1ZZs9j4XnP</a> 2023-10-21T19:02:07Z https://yabu.me/nevent1qqsqcyvnqwh3maras3kayjtnxvkn463my75eyrpe0um6gqn5j3z2p7czyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05rej9du Just wrapped up an awesome call with 17 badass #Bitcoin consultants from around the world<br/><br/>Thanks to everyone who participated<br/><br/>Audio of the call will be posted within 24 hours to the Bitcoin Stoa podcast 🧡<br/><br/>Next call: November 21,2023<br/><br/>Topics:<br/>- The art of asking good questions<br/>- The business of Bitcoin consulting 2023-10-21T16:14:23Z https://yabu.me/nevent1qqszh4cat2tqphq9jlc86rght7pt83u8pa6tlvd9yyk9ageajy0lq3qzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05ntyw37 GM nostr ☀️<br/><br/>Freedom tech is winning<br/><br/>Freedom money is winning<br/><br/>#Bitcoin is reshaping the world<br/><br/>Love to you all 🧡 2023-10-19T14:21:37Z https://yabu.me/nevent1qqs9g208mt60ctlkr0e93ath6cgg78umzwku90rrv49ccwrxs676uxqzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05ns94hu We are a team of 21 hardcore professional #Bitcoin consultants<br/><br/>We share our study notes<br/><br/>We gather monthly to share knowledge and learn together<br/><br/>We each bring a unique speciality to the team<br/><br/>We collaborate to serve our clients<br/><br/>We can handle jobs of any scale<br/><br/>We live in alignment with Bitcoin<br/><br/>We honour the legend of Hal Finney 2023-10-16T15:00:29Z https://yabu.me/nevent1qqs24elxa50x2jpgmysey2te9nd88tnazryk4d3spa0f7pqvtysak0gzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05l77e79 P01 - proof of study<br/><br/>Notes session 10.16.23 [812460]<br/><br/>Research topic: #Bitcoin collateralized loans<br/><br/>—<br/>Bitcoin is the reserve asset of the internet economy<br/><br/>The internet economy is an aggregate economy of the entire world and is larger than any single nation economy<br/><br/>Bitcoin is pristine digital collateral for lending<br/><br/>Pristine meaning: Not spoiled, corrupted or polluted<br/><br/>Collateral: something pledged as security for repayment of a loan, to be forfeited in the event of a default<br/><br/>Collateral is something provided to a lender as a guarantee of repayment. It is used to secure a loan<br/><br/>Collateral reduces risk for lenders because if a borrower defaults on the loan, the lender can seize and liquidate the collateral<br/><br/>People who own Bitcoin will have access to the best interest rates<br/><br/>Bitcoin is the apex collateral in a digital world (largely because to it’s unmatched liquidity)<br/><br/>Bitcoin is replacing treasuries as the apex reserve collateral<br/><br/>Why is a Bitcoin collateralized loan a useful product? It is a tool to help individuals or companies avoid ever selling their Bitcoin<br/><br/>By borrowing against your Bitcoin instead of selling it, you:<br/><br/>- Eliminate capital gains taxes (Bitcoin is considered property, therefore a taxable event is created everytime you sell or exchange it)<br/><br/>- Continue to benefit from the price appreciation of bitcoin<br/><br/>- Can write off the interest expense of the loan<br/><br/>Areas to research:<br/>- Dynamically refinanced loans (monthly)<br/>- Counterparty risk of different bitcoin backed loan products<br/>- Rehypothecation considerations<br/><br/>Loan-to-value ratio (LTV): The maximum amount of a secured loan based on the market value of the asset pledged as collateral<br/><br/>A low LTV (conservative) provides protection from liquidation in case the underlying asset has a significant drawdown in price<br/><br/>Bitcoin backed loan products to review: LEDN, SALT lending, Unchained capital, Coinbase<br/><br/>Factors to consider: custody risk, rehypothecation, insurance, origination fees, interest rate, Loan to value (LTV), collateral to principal (CTP), prepayment penalties, tax implications, loan maturity options<br/><br/>-<br/>21 min 2023-10-16T14:56:24Z https://yabu.me/nevent1qqs8fzek4cwn3dk3es6rrfpk5lk5lsm8v0tu52c6se63hxssl23nlpqzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e058mq6x6 Why do we do this work?<br/><br/>Because we believe every human has a right to save the fruits of their labour in incorruptible money backed by energy, governed by the laws of the universe and immune to the foolishness and greed of man<br/><br/>Team mission: accelerate the transition to scarce money<br/><br/>#Bitcoin 2023-10-13T19:45:58Z https://yabu.me/nevent1qqsqgnwuyqt80wwgqc6cn4k2yfr4r3ztz4kydr4fr3tpuehdlc55y8qzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05wl7g0y P01 - proof of study<br/><br/>notes session 10.13.23 [812036]<br/><br/>Report: #Bitcoin First Revisited by Fidelity Digital<br/>--<br/>The primary value driver of bitcoin tokens is scarcity and a reliable supply cap of 21 million units<br/><br/>Based on this scarcity, bitcoin is uniquely positioned to be the primary monetary good and another digital asset is not likely to supersede bitcoin in this role<br/><br/>While Bitcoin is not the most scalable, it is currently the most secure and decentralized network at the base layer<br/><br/>A centralized blockchain is simply a database and these have existed for decades<br/><br/>The decentralized blockchain employed by Bitcoin is the radical innovation and offers the important qualities of immutability, seizure resistance, censorship resistance and trustless design<br/><br/>Bitcoin is a global open-source protocol for value transmission<br/><br/>In contrast to TCP/IP, ownership of the base layer is possible via purchasing bitcoin tokens<br/><br/>Each bitcoin token is divisible into 100 million smaller fractions called Satoshis<br/><br/>Every application built on Bitcoin increases the value of the network and therefore also increases the value of ownership tokens for the network which are called bitcoins (lowercase b for the asset, capital B for the network)<br/><br/>Lightning is a layer two application built on top of the Bitcoin base layer<br/><br/>Lightning is a decentralized network that allows off-chain transactions between persons with the ability to make final settlement on the base layer<br/><br/>Lightning increases Bitcoin’s scalability while maintaining Bitcoin’s security with the option to settle any time on the base layer<br/><br/>It is beneficial for investors seeking to better understand digital assets to separate Bitcoin and all other digital assets into separate categories<br/><br/>bitcoin is the scarcest monetary asset in human history and deserves to be considered separately from all other experimental tokens in the digital asset space that are separate from Bitcoin<br/><br/>While nation state attacks and protocol bugs remain risks to Bitcoin, those risks continue to diminish each day as the network grows stronger with more users, miners and infrastructure being built<br/><br/>—<br/>21min<br/>pgs 15-19 2023-10-13T18:28:06Z https://yabu.me/nevent1qqsyezacgpdj2pnna3spmnx7dwehwq92jxcwmqfexjjnjnphmlgd8dqzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05lr6w77 Finney fact:<br/><br/>In January 2009, Hal Finney was the Bitcoin network&#39;s first transaction recipient 2023-10-13T00:02:54Z https://yabu.me/nevent1qqsfxgf5c23hv76ksq0z8at7r5t2skhs9gkdetnxdcfw7hwcw8nmf9czyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05jpmsld &#34;The computer can be used as a tool to liberate and protect people, rather than to control them&#34;<br/><br/>- Hal Finney [November 1992] 2023-10-12T20:57:35Z https://yabu.me/nevent1qqstdlk0sul33rn3t8rqfm7q6r2nn0ay8wvpl3twkt6djxx5sh4nh7gzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05vhm5hf P01 - proof of study<br/><br/>notes session 10.12.23 [811869]<br/><br/>Report: #Bitcoin First Revisited by Fidelity Digital<br/>--<br/>Lindy Effect: the longer a non-perishable thing survives, the more likely it is to survive in future<br/><br/>Antifragility: when something becomes stronger with each attack or stressor it faces<br/><br/>Bitcoin is antifragile and every second, minute, day, month it survives increases the likelihood it will continue to survive<br/><br/>Most people underestimate the volume and intensity of negative events Bitcoin has already endured<br/><br/>Due to network effects, it is likely that one digital monetary good will dominate the global market<br/><br/>It is unlikely that another digital asset will supersede Bitcoin as a monetary good<br/><br/>Blockchain trilemma: a decentralized database can only deliver on two of three guarantees at one time: decentralization, security, or scalability<br/><br/>Security: likelihood of the network being attacked or compromised<br/><br/>As the Bitcoin network grows with more nodes and miners distributed across the world, it becomes harder and more expensive to attack Bitcoin<br/><br/>Bitcoin is by far the most secure digital asset when measured by hash rate securing the network<br/><br/>Decentralization: how much control any one person, entity or group has on a system or network<br/><br/>The opposite of a decentralized network is a conpletely centralized network where a signle intermediary controls all aspects of the network<br/><br/>Decentralization = lower network throughput (lower scalability) but higher security<br/><br/>Bitcoin is the most decentralized digital asset and continues to show increasing decentralization over time<br/><br/>Scalability: how well a network can handle growth of number of users and volume of transactions<br/><br/>Bitcoin optimizes for decentralization and security and as a result has a slower transaction throughput capability<br/><br/>Bitcoin scales in layers built on top of the base layer, not on the base layer itself<br/><br/>Bitcoin is currently the most secure and decentralized monetary network<br/><br/>The transaction throughput of Bitcoin is limited by the time between each block (approx 10min) and the block size (just over 1mb) which limits the number of txs that can fit into each block<br/><br/>Blocksize war: a battle to increase block size which would decrease decentralization over time (because running a node would be more expensive over time with bigger blocks creating more data to store)<br/><br/>This war resulted in a hard fork which created a code change that was not backward compatible<br/><br/>All hard forks from Bitcoin to date have either failed completely or struggled to gain any kind of market dominance<br/><br/>This signals that the market values a highly secure and decentralized store of value more than another payment network<br/><br/>Bitcoin&#39;s revolutionary invention was solving the problem of digital scarcity and creating a digital store of value, not making an incremental improvement to a payment system<br/><br/>-<br/>21min<br/>pgs 8-14 2023-10-12T15:23:01Z https://yabu.me/nevent1qqs9qx0f6maxl6r2562xckchslwjd6zqm38eca5fjqgjve2l0y702fczyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05v4qtpl P01 notes session 10.11.23<br/><br/>Hardware wallet review: Jade by Blockstream<br/>--<br/><br/>- Fully open source hardware and software. Gold standard that is rarely met in the HWW industry<br/><br/>- Affordable compared to alternative products. Uses commodity hardware<br/><br/>- Simple to use, great support, compatible with Blockstream Green, Sparrow, Nunchuk, Specter<br/><br/>- QR scan, BIP85, duress pin<br/><br/>- Fully air gapped. Enables sending bitcoin without connecting to the internet<br/><br/>- Immune to physical key extraction from device alone (virtual secure element with 3 secrets - Jade secret on device, pin, remote blind oracle)<br/><br/>- DIY-able (firmware can be installed on inexpensive, off the shelf hardware<br/><br/>- Can be used as a 2FA device<br/><br/>- Can mine bitcoin (cool but not profitable) 2023-10-11T21:15:32Z https://yabu.me/nevent1qqsrrjwuv375v3886mg6tqzsl2agw0gzmuaevz8nlr96eznk8tyyq2gzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05uzryzp We chose to name our team after this Legend. Never forgotten, eternally grateful<br/><br/> <img src="https://nostrcheck.me/media/public/nostrcheck.me_8848547103865611881697035760.webp"> 2023-10-11T14:49:36Z https://yabu.me/nevent1qqsfvy5wu49sx8ky8v2nsvzych2z5yn3ra60y78gtzx85sxnxv7lnwszyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e057xqv5k P01 notes session 10.10.23<br/><br/>Report: The Lightning Network grew by 1212% in 2 years by <span itemprop="mentions" itemscope itemtype="https://schema.org/Person"><a itemprop="url" href="/npub1xkere5pd94672h8w8r77uf4ustcazhfujkqgqzcykrdzakm4zl4qeud0en" class="bg-lavender dark:prose:text-neutral-50 dark:text-neutral-50 dark:bg-garnet px-1"><span>River</span> (<span class="italic">npub1xke…d0en</span>)</a></span> <br/>--<br/>The number of users, transactions and volume on lightning have been accelerating significantly over the past years<br/><br/>6.6 million routed Lightning txs in August 2023 (lower bound estimate)<br/><br/>1212% growth since the 503k tx estimate for August 2021<br/><br/>This growth was despite a 44% bitcoin price drop and 45% decrease in search interest<br/><br/>Avg Lightning tx size of 45k sats ($11.84) in Aug 2023<br/><br/>Lightning is extending Bitcoins utility by enabling low value payments over the internet<br/><br/>Est. ratio of 1:8 non-custodial to custodial Lightning users<br/><br/>173 companies in the Lightning industry across 28 categories<br/><br/>Lightning enables millions of people to trustlessly and instantly move money back and forth without having to settle each tx on the Bitcoin blockchain<br/><br/>It has been 7 years since the Lightning Network Whitepaper was published<br/><br/>There is no way to identify all private nodes on the Lightning network<br/><br/>An estimated 70-80% of Bitcoin users have their funds on exchanges today<br/><br/>21min<br/>Pgs 1-10 2023-10-10T17:01:18Z https://yabu.me/nevent1qqs9h34javpjzddcujpr73l0zw44wrvdz8djygy9gr77gfgeafn5rlszyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05vv3q6l <blockquote class="border-l-05rem border-l-strongpink border-solid"><div class="-ml-4 bg-gradient-to-r from-gray-100 dark:from-zinc-800 to-transparent mr-0 mt-0 mb-4 pl-4 pr-2 py-2">quoting <span itemprop="mentions" itemscope itemtype="https://schema.org/Article"><a itemprop="url" href="/note19r5c7dfvnchqxpez0vw4gxm5up5ex3mzfsl899qhn5rctt07c0ws0x2vxc" class="bg-lavender dark:prose:text-neutral-50 dark:text-neutral-50 dark:bg-garnet px-1">note19r5…2vxc</a></span> </div> "I am convinced that any attempt to restore harmony in the world can only rest on the renewal of personal responsibility" - Andrei Tarkovsky<br/><br/>Own hard money. Own your sovereignty.<br/><br/>Own the outcomes of your life.<br/><br/>#Bitcoin <video controls width="100%" class="max-h-[90vh] bg-neutral-300 dark:bg-zinc-700"><source src="https://v.nostr.build/zgkZ.mov"></video> </blockquote><br/><br/>Bring back personal responsibility<br/> 2023-10-09T21:21:52Z https://yabu.me/nevent1qqs2rndu8amj5zrw93xtr3r2kulwghm4zsxsfy7essdmpryy4s8pjfqzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05z47k8q In reply to <a href='/nevent1qqsxpf3a46h6g8t36qzacj5nge2crgwg2xsnfxd7za6c0pjnen8a4fqpp4mhxue69uhkummn9ekx7mqppzmsx'>nevent1q…zmsx</a><br/>_________________________<br/><br/>We have some A+ seasoned sat slingers that would love to try out when you eventually expand the team 🤙🏼 2023-10-09T21:19:49Z https://yabu.me/nevent1qqsrfk62m9m2xw86evfzsfepg94anay0s9zh7tedhpnjf89uc09mctczyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05uu3d27 P01 notes session 10.9<br/><br/>Report: #Bitcoin First Revisited by Fidelity Digital<br/><br/>Bitcoin is the only digotal asset that matters. It is fundamentally different than all other digital tokens in its security and decentralization<br/><br/>It is not vulnerable to innovative destruction from competitors<br/><br/>bitcoin the asset vs Bitcoin the network<br/><br/>Bitcoin is best understood as a monetary good<br/><br/>A monetary good is a good that is valued for its tradeability for other goods, not its consumption or use<br/><br/>Bitcoin is superior money to gold and fiat currency based on properties of durability, divisibility, fungibility, portability, verifiability, and scarcity<br/><br/>Bitcoin&#39;s value is driven by its enforceable scarcity of 21 million bitcoin<br/><br/>Unlike gold which is relatively scarce, bitcoin is provably finite<br/><br/>There will only ever be 21 million bitcoin<br/><br/>Two key characteristics underpin the scarcity of bitcoin: decentralization &amp; censorship resistance<br/><br/>Bitcoin has promising potential to be the primary monetary good for humanity<br/><br/>The value of a network increases exponentially as the number of its users grow<br/><br/>Monetary network effects are extremely powerful<br/><br/>Bitcoin is the first and only truly scarce digital asset ever created<br/><br/>Any subsequent monetary good will be reinventing the wheel. The wheel can only be invented/discovered once<br/><br/>21 min<br/>Pg 1-7<br/><br/>#finney21 #bitcoin<br/><br/><br/> 2023-10-09T21:11:22Z https://yabu.me/nevent1qqspf9xs46esd2rv6a4utml9peh0eecwafumjt528c7cstctzkgl7hqzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05kz0dp4 Gradually then SUDDENLY<br/><br/>#Bitcoin is portfolio insurance for suddenly moments<br/><br/>Our spidey senses smell suddenly<br/><br/>Brace for impact<br/><br/>Suffer well<br/><br/>It&#39;s gonna be way better in the new world 2023-10-09T20:20:05Z https://yabu.me/nevent1qqszy32jfcwrsygwusc0zne6ms4wqcrhset0pd75tf3ywqdt6m4tu8gzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e057ljg49 In reply to <a href='/nevent1qqsd7y2zxgar62kzyvkyqxupu5dghl0lpz3fwnf83a6p8x253j8y6qspzamhxue69uhhyetvv9ujuurvv438xarj9e3k7mgzn3pqr'>nevent1q…3pqr</a><br/>_________________________<br/><br/>Any interest in sponsoring a team that hunts down unused hydro power in Quebec and monetizes it with hash?<br/><br/> 2023-10-09T20:15:32Z https://yabu.me/nevent1qqsw5x96rxmtq7tp0vg3d849crm9977ree4cqrfhghccwugfrl3h3fqzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e0520shhw The halving is programmed but not priced in<br/><br/>Act accordingly<br/><br/>Study &amp; Buy #Bitcoin 2023-10-09T20:10:12Z https://yabu.me/nevent1qqsdr3vsqy69xe3t9wx3d6fzeml5gl8f7xre4taca46m2ns4a5ydvfqzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e059w50kd Client 001, project 001<br/><br/>Draft letters for clients and contractors to communicate #bitcoin as new payment option and why it is preferred over digital fiat and cash<br/><br/>Price for work: 840,000 sats<br/>Block: 811267 2023-10-09T19:18:30Z https://yabu.me/nevent1qqspkmfqc9p6p3758yfcsv0pt0zuskr6c29c2u3crdecmqf8a65m48szyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05fczny3 True or False?<br/><br/> <img src="https://nostrcheck.me/media/public/nostrcheck.me_5583208067921838341696803129.webp"> 2023-10-08T22:12:53Z https://yabu.me/nevent1qqsreyhnpanpau7zj7gt0tuut5rvvtkvp4mwxkkfxku995zup66wq8szyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05c8u3qv v1.0 website is now officially live<br/><br/>www.Finney21.com 2023-10-07T23:02:56Z https://yabu.me/nevent1qqsz9rzmdecl6vnyxcmwhpcvlvlm805xv9h5rkeent8uvhs6jj6kjlgzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05wet22n A firm of 21 professional consultants<br/><br/>v1.0 of our specialty roster:<br/><br/>Health:<br/>1. Musculoskeletal<br/>2. Internal systems<br/>3. Mental &amp; emotional<br/><br/>Bitcoin:<br/>4. Institutional<br/>5. Small business<br/>6. Personal self custody<br/>7. Exchange<br/>8. Software (wallets)<br/>9. Software (coding)<br/>10. Mining<br/>11. Energy<br/>12. Key management<br/>13. Node<br/>14. Lightning<br/>15. Legal<br/>16. Accounting<br/>17. Admin<br/>18. Relationships<br/>19. Collateralized loans<br/>20. Collaborative custody<br/>21. Research 2023-10-07T19:32:03Z https://yabu.me/nevent1qqsq2rmmacv8mhqrnh3ae9kqxn34zx7vw7ch56hv03razh4q9l3cwjgzyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05a8a0gr SATurdays are for studying #Bitcoin 2023-10-07T14:05:12Z https://yabu.me/nevent1qqs9tv0aelrf8tfgdlqhjrv9phjd36ts6ky5duxt30ksjfeprdet88czyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05tl48av WHY does Finney21 exist?<br/><br/>To accelerate the transition to scarce money (aka #Bitcoin) 2023-10-07T12:55:41Z https://yabu.me/nevent1qqsx0npsqzp2kdqtgl4r9qnngl6grn4efpqnchasx6g0ffpc6ync97szyz6ptamh7n9mugxpp3wrqa2e0xqgy3jwtzdys8vty96jeky9n5e05dmyfku Hello nostr<br/><br/>Running #Bitcoin 2023-10-07T12:33:05Z