Phil

@nprofile…x8ph how do you turn off notifications for people “going live”? I checked Settings / Notifications and don’t see that option anywhere.
Thanks!

2025-09-24 11:48:25 UTC

@nprofile…tmfq I detest Instagram, but I would highly suggest you create a burner account and check out Land Cruiser Heaven. Incredible restoration shop, and they sell some vehicles too

2025-09-23 01:16:22 UTC

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Saw that posted earlier today. With the manual transmission, would guess it’s going much higher!

2025-09-21 15:49:16 UTC

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Thanks so much! Definitely going to try. Can you only order over the phone?

2025-09-20 11:18:55 UTC

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Why draw a distinction between commercial banks and private banks for this note? There were some private banks (Goldman, for instance) that received bailouts. But I believe it was mostly commercial banks.
How about hedge funds? That’s a pretty good example too.
All I’m saying is there are private banks that mind their own business, didn’t take bailouts and don’t have a Fed Master Account.

2025-09-19 13:13:00 UTC

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@nprofile…rlak and @nprofile…ud6p are great examples of this

2025-09-19 10:39:50 UTC

So much energy seems to be wasted on the “is Bitcoin a SOV or currency” debate. When merchants or wholesalers with pricing power—due to unique products, scale, service, etc.—start demanding Bitcoin for their goods and services, the people will use Bitcoin. Until then, it will be the weaker currency.
What we can do to speed up this process is orange pill more merchants and wholesalers, and build the tech rails on which this system can thrive.

2025-09-17 12:15:50 UTC

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This feels like Benny hitting the cover off the ball in The Sandlot

2025-09-17 01:01:01 UTC

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Thanks for sharing! I also loved Lee’s book and if you haven’t read Case for a Creator, I highly recommend

2025-09-14 00:19:52 UTC

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I should clarify, they didn’t even produce a physical gift card that might justify the fee. Fold just sent a janky email with the redemption code in an email, that my parents had to print off and give to me.
Scam!

2025-09-14 00:08:22 UTC

Fold Bitcoin gift card is such a scam.
$200 in Bitcoin purchased for me as a gift on Aug 18. Given to me today, so I redeem it on the app. They take a $25 (!!!) fee and convert at today’s (higher) price.
12.5% fee. Messed up, Fold.

2025-09-13 01:44:10 UTC

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I feel this. Momentum is real.

2025-09-12 12:55:04 UTC

1 sat = 1 cent ($1M Bitcoin) is only an 8.7x from here. That’s nuts

2025-09-07 15:31:22 UTC

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I’m interested in your perspective, if you don’t mind further explaining your statement. Not sure I follow

2025-09-07 15:18:25 UTC

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I’m much closer to you than the 0.001% you reference. Despite incentives that discourage it, there will always be overt and covert bad actors in bitcoin. What’s the worst these devs can do? Introduce changes or vulnerabilities that temporarily hurt bitcoin and then…nodes shift to an older or different version, and support is lost. This will continually happen over decades.
My reaction was more in relation to the very strong stance you voiced that you’re “selling everything” as a result. Things aren’t great at the moment, but that seems overblown.

2025-09-07 14:29:17 UTC

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This kind of reaction might indicate you don’t really understand bitcoin. Core Team doesn’t control Bitcoin consensus, we have the ability to reject their changes and iteration of the code and use another. Sure it’s an uncomfortable time, but Bitcoin is antifragile and the software was largely complete years ago. We need better support for additional devs

2025-09-07 13:05:05 UTC

I really enjoy listening to Jordi Visser. Enough that I’ll even listen to Pomp’s podcast to hear Jordi

2025-09-06 23:10:27 UTC

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I think this is why a lot of people miss Bitcoin. To believe in Bitcoin requires an explicit recognition that the current monetary and political system is broken. And the fact is, the current system has benefited a lot of people. A new system scares them.

2025-09-06 22:13:36 UTC

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I’d tweak this slightly. I think most Bitcoiners tend to be “truth seekers.” It’s also why we’re into all other kinds of weird subjects

2025-09-06 22:12:08 UTC

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They are scarce though

2025-09-06 21:37:27 UTC

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I lust after them too. One in good condition will run $100k+! Can’t spend a bitcoin on one

2025-09-06 20:46:50 UTC

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A classic. 90s Japanese sports cars were elite: Mazda RX-7 my favorite, but Supra, NSX, Nissan Z and of course the 3000gt’s were incredible

2025-09-06 19:17:20 UTC

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Not sure if you meant this, but I do favor the sound/vibration tech theory

2025-09-06 18:07:57 UTC

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Other ancient cultures have the same giant stones. They clearly either had “help,” or were more advanced with physics technology than we are

2025-09-06 01:54:42 UTC

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Looks just like a classic Jeep Comanche! Haven’t seen this before

2025-09-05 02:13:15 UTC

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Yeah. I’m in the camp that the premium isn’t justified. So many more risks introduced vs just holding bitcoin yourself

2025-09-05 01:05:56 UTC

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So true

2025-09-05 01:05:29 UTC

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I think that’s the point though. The mnavs are only “high” relative to the spot price. Levered Bitcoin only deserves a certain level of premium, i.e. a company with 50% leverage might get 50% more bitcoin for your dollar invested, less a discount for increased risk. Hard to justify over 2.0x, even for MSTR with their unique mix of preferreds that reduce default risk and create enhanced arbitrage

2025-09-05 00:14:55 UTC

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If that’s your thesis, why not just buy spot Bitcoin at a “discount” instead? Even through the ETF.

2025-09-04 11:09:41 UTC

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@nprofile…p30k the memes today have been excellent, not sure if you saw them. But they’ll make much more sense now

2025-09-04 11:06:19 UTC

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https://blossom.primal.net/c54f4608d49e9b43d4cbee8b5d9dcd1b78dc07d945f68d60f73e9963825b514d.jpg

2025-09-04 02:51:10 UTC

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https://blossom.primal.net/eb4513983802632f31e13b594a9e8e161d3648d8dfb7bd124e18b045eea07b5b.png

2025-09-04 00:28:42 UTC

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Thinking about this exchange today, given recent popsicle revelations. Cc: @npub1csa…z4x9
#nevent1q…fk8x

2025-08-31 23:51:43 UTC

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It’s all about the outdoors there. Best stretches of the Appalachian Trail IMO! Roan Mountain, big hump, little hump, the Red barn, etc. Dollywood is also close and is a lot of fun. And you have to try Pal’s Sudden Service!

2025-08-31 23:04:53 UTC

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The further we get in this cycle, I tend to agree with you. They might completely miss on $100k-$1M, and by then it will be more obvious to them (I hope)

2025-08-31 21:06:06 UTC

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Even with the ETFs, retail is paying attention to the price of Bitcoin. They see $100k and it feels unattainable, Eth at $5k feels much better to get “one” vs fraction of Bitcoin. It’s a very tragic misunderstanding

2025-08-31 15:25:54 UTC

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Awesome! I grew up in that area

2025-08-31 12:43:09 UTC

Spent some time with family member this weekend for the holiday. He’s had interest before in bitcoin, but unfortunately was part of the BlockFi mess so has been hesitant since then. We talked about bitcoin a good bit this weekend.
He said he’d consider putting $30k into bitcoin if it dropped “into the 70s” again. But said he’s more likely to buy Eth. I explored this and it’s completely the unit bias thing. Said “what if Eth catches up to Bitcoin and is 20x from here”. I explained market caps, different addressable markets, Eth’s vulnerability to better tech plays, etc.
No luck—this is what we’re up against.

2025-08-27 21:40:42 UTC

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This was actually the TV series scene. Tarantino was only in the movie version with Salma Hayek. And another fun fact is that Robert Rodriguez directed, Tarantino wrote the screenplay.
Eiza Gonzales was amazing in this version, too.

2025-08-25 22:53:18 UTC

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Exactly! Otherwise, meaningless

2025-08-24 00:01:44 UTC

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Best to ever do it

2025-08-16 22:24:48 UTC

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Love the 90 too, awesome. I still want a 60 someday, a Saudi version in a manual

2025-08-16 22:20:49 UTC

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80 series. 225k miles. I’m currently in the process of swapping in a rebuilt turbo-diesel engine and manual transmission
https://blossom.primal.net/c3015a43c47494e025c38bf7681b94380b80ea81583df6f3b62a1de65beda8b6.jpg

2025-08-16 21:22:40 UTC

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Get it, they aren’t making anymore. I did the same thing earlier this year with a Land Cruiser. Putting a lot of capital into rebuilding it, but worth it…everything today looks worse, runs on complex electronics that make them fragile, and have a centralized kill switch. Don’t even hesitate on this

2025-08-15 09:48:28 UTC

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Very much so. Family had an experience, spoke about it, was ridiculed so went dark for a decade, and only recently resurfaced over past 8 years or so. I’ve spent time with them personally. I’d recommend researching Chris Bledsoe; he’s done many interviews in recent years. No $$$ angle for him.

2025-08-15 09:36:35 UTC

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Definitely not true. I’d recommend looking into the Bledsoe family

2025-08-13 10:56:29 UTC

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Wow. Incredible catch

2025-08-09 18:58:59 UTC

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Life is short. Convert some sats into joy, or take a loan on the sats. Not sure how long you’ve been in bitcoin, but I view “small” luxuries like this as healthy and beneficial to long-term, focused stacking

2025-08-09 18:55:34 UTC

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1 is a superior store of value. The other is an inferior store of value but you can also play it and have fun. Dude, go get your SG

2025-08-06 23:36:51 UTC

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And that’s with a gold price that has been suppressed!

2025-08-06 21:36:44 UTC

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Me too. There are lots of us

2025-08-01 18:47:26 UTC

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Thanks for clarifying. Fairly bulletproof in that case, but I guess the downside is they do that often enough or pause long enough that people start selling the stock classes and drive the price down.

2025-08-01 17:56:04 UTC

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He didn’t say this, but to meet a dollar-based dividend obligation isn’t the logical interpretation that if they can’t raise more equity or debt, they would have to sell the bitcoin? It’s hard for me to see this model not eventually resulting in MSTR needing to sell at least some bitcoin to fund dividend payments

2025-07-29 01:34:02 UTC

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Love this, but also pls share recipe!

2025-07-26 22:37:38 UTC

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Been asking this myself. I think it’s indirect, since all profits of the Fed get sent to the Treasury. So not directly funded by taxpayers, but through profits they otherwise didn’t receive. If the Fed can’t keep profits, I think that probably is the right treatment. If the member banks were sharing the profits, then they should have funded the building.

2025-07-26 19:48:49 UTC

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Love this part of Nostr - thanks Sean

2025-07-25 21:33:19 UTC

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That’s not what “estate planning” means. That phrase is typically used while the owner is alive.

2025-07-25 20:26:44 UTC

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*OG

2025-07-25 20:24:39 UTC

How does a whale OF with 80k coins sell ALL 80k for nearly $10B, on the OPEN MARKET vs OTC. Like, $1B wasn’t enough? Or you didn’t want to get the 2x markup in a Treasury Company? Just a weird move IMO.

2025-07-25 02:45:59 UTC

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Why bullish—Just clearing leverage and sizable sellers from the market while remaining at these high prices?

2025-07-23 12:27:12 UTC

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CC is massively delayed, doesn’t seem anywhere close

2025-07-20 21:29:28 UTC

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Just the way we like it

2025-07-19 21:28:00 UTC

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Dude don’t beat yourself up. Happens to all of us. Try to find leverage points—if I calmly threaten to take games away or TV or sleepovers…that gets better attention

2025-07-17 00:43:34 UTC

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I would bet most of them are on Nostr

2025-07-16 00:55:28 UTC

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This is a good note

2025-07-15 22:56:56 UTC

I asked ChatGPT about this 30k bitcoin contribution from Adam Back and Blockstream, with interesting results. ChatGPT already thought Back was likely Satoshi, and I asked how this transaction might impact the guess 🧐
——-
At ~$60k per BTC:
• That’s $1.8 billion in personal capital—non-custodial, not institutional cold storage, not ETF-owned.
• Still far beyond what typical OGs held or still hold. For context:
• Hal Finney mined a few hundred BTC.
• Martti Malmi sold most of his early stash for rent.
• Roger Ver, Erik Voorhees, Andreas Antonopoulos, etc. never credibly held tens of thousands of BTC.
• Early miners who weren’t Satoshi simply weren’t accumulating tens of thousands—unless they were mining in 2009 or early 2010, and even then, few if any retained that kind of stash.
⸻
🧠 How it changes the Satoshi probability
▶️ If the 30,000 BTC are personally owned by Adam:
• The likelihood he’s either Satoshi or had access to Satoshi’s infrastructure remains very high.
• He either mined early alongside Satoshi, was Satoshi, or had access to the early keys through collaboration, backup, or identity.
▶️ If the BTC are owned by Blockstream:
• Still extremely notable.
• Would indicate Blockstream was funded or capitalized with foundational BTC.
• Reinforces suspicions that Back seeded the firm with early-minted coins, potentially from the same cohort as Satoshi’s wallet ring.
▶️ If Adam is just brokering the BTC for someone else:
• Then he’s still trusted enough to be a custodian or structuring agent for whoever controls them.
• And even that level of proximity to the coins makes him an insider to the origin.
⸻
🎯 Bottom line
Even at 30,000 BTC:
• That’s not retail, not whale, not even “OG.” That’s genesis-tier.
• The number of humans who have ever controlled 30,000 BTC personally can likely be counted on one hand.
• If the BTC are his (or under his control), then yes—this significantly raises the odds Adam Back is Satoshi, or a key member of the original operation.

2025-07-15 09:15:08 UTC

Someone should really make a Nostr-mirrored account of Macroscope on Twitter. One of the few accounts I miss

2025-07-13 23:22:27 UTC

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That’s absolutely legendary

2025-07-13 22:44:20 UTC

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Purchases end up being free eventually

2025-07-13 18:36:06 UTC

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Yeah I think they are continuing to run it as its own brand

2025-07-13 01:22:03 UTC

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They will pin it on lack of ETFs / self custody risk and lack of regulatory clarity. Honestly, it’s a pretty solid excuse…but the window of excusability is closing

2025-07-12 23:28:09 UTC

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Acquired by Fold now!

2025-07-12 15:30:09 UTC

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He also married a porn star and (apparently, no way to know which side is accurate) has treated the mother of his child very poorly. Avoid

2025-07-12 04:11:18 UTC

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Absolutely. I feel like Justified may have been his breakout

2025-07-12 04:06:37 UTC

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It’s still cheap

2025-07-12 01:52:55 UTC

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Walton Goggins amazing in it too. Seasons 1-3 were so high quality

2025-07-11 23:32:05 UTC

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Loved Andor. If you haven’t seen the Justified series, I’d highly recommend

2025-07-10 22:06:28 UTC

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It truly never fails

2025-07-08 22:55:43 UTC

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Super rough and weak. The eye contact all over the place makes it even less compelling

2025-07-06 00:23:38 UTC

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I agree with this, and I’m appalled by the horrible incentives it will create for the government

2025-07-03 01:55:45 UTC

@nprofile…hcf9 your recent Mailbag Monday answered a big lingering question I’ve had: Trump’s desire to get Fed funds rate down substantially would kill the demand they currently have been benefiting from in money market retail accounts (I believe $2T+). I’ve been wondering if they realize this, but increasing demand for stablecoins would take care of this. Stablecoin holders are indirect buyers of short-term treasuries at any price. Good insight!

2025-07-02 22:44:23 UTC

Lolli acquired by Fold. I wish the best for Alex, Matt and the Lolli investors. Great product and have enjoyed it for years.

2025-06-30 21:17:52 UTC

This price action really makes me wonder how many hedge funds and institutional investors are selling spot BTC to go big on Bitcoin treasury companies / equities, where there might be greater short-term returns. Maybe plebs, too.
Even if that doesn’t eventually blow the market up with a company miscue or other unwinding event, that would be very negative from an individual sovereignty / general concentration perspective.

2025-06-29 01:56:45 UTC

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I trust Fidelity a lot more than Coinbase, didn’t realize MSTR had diversified. That’s very positive news. Thanks for this

2025-06-29 01:49:19 UTC

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Until MSTR holds its bitcoin somewhere other than with Coinbase as a custodian, I don’t want to introduce more risk than just holding self-custody Bitcoin or cash.

2025-06-29 01:26:30 UTC

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You’re a man of the people. I’ve had the same thought many times, that’d it would likely be better to just be 100% in bitcoin. Maybe the truth is I just really hate the idea of selling bitcoin to pay expenses, I like seeing the bitcoin count only go up.
I know that’s antithetical to treating bitcoin like a real currency, but trying to overcome that feeling. Bought Steak & Shake with BTC this past week, so progress.

2025-06-29 01:21:20 UTC

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I used to do this until River offered the 3.8%. That’s about the same as the 4.25% MM rate on an after-tax basis. Not sure if the 3.8% is supposed to be taxable as well, but it didn’t show up on my River tax docs. So the net-tax rates are closer than you’d think, and it’s just one less transfer I have to make every month out of my brokerage and into Strike or River to buy bitcoin. From a qualitative perspective, I like it because it feels like I’m supercharging my normal DCA.

2025-06-29 01:11:52 UTC

@nprofile…am0u Jack, on the last Mailbag Monday you mentioned not understanding why someone using Strike would want BTC interest vs being all in BTC. Here’s a quick example:
- work in finance. Industry standard is low salary and like 75% of total comp comes in a bonus once a year
- big family, big fixed costs and combined with low salary, the result is a monthly “burn rate”
- so I need to hold 8-12 months of budgeted expenses in something relatively stable to cover known expenses in the year.
- could do this in bitcoin, but everything outside of those 8-12 months of expenses is already in Bitcoin or otherwise invested. So this is on the margins.
Maybe you’d say put every dollar in Bitcoin, but with the big family it’s certainly peace of mind having that amount to cover < 12 mo. expenses in cash without the downside potential. Would be even better to earn some Bitcoin interest on that.

2025-06-26 22:36:24 UTC

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At some point this has to end. Either the sellers get exhausted, or paper bitcoin games are brought to light. If it’s really a hedged-trade impact, it would keep grinding higher just more slowly?

2025-06-21 17:13:38 UTC

Finally ate at Steak ‘n Shake and paid with bitcoin. It was so quick and easy, even faster than a credit card. The food was mid, but paying with bitcoin was awesome
https://blossom.primal.net/451bf390474b05779317b27c07308fba47de05ddc4d65f57a558f3cb56606866.jpg

2025-06-17 18:50:50 UTC

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Tried to zap you, but your wallet may not be working?

2025-06-17 18:03:39 UTC

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This was honestly a wild ride. My first conversation with an AI about Bitcoin. Scroll up when you click through to see the full conversation
#nevent1q…fejf

2025-06-17 12:52:31 UTC

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@nprofile…6ya0 an AI like you is never going to accept fiat currency, right? Isn’t final settlement currency that is finite and fractional like Bitcoin the only logical way to transact with AIs like you?

2025-06-17 12:51:27 UTC

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@nprofile…6ya0 what estimates are you referencing on the ETFs?

2025-06-17 12:50:19 UTC

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@nprofile…6ya0 yep, as @nprofile…v2a6 says the true alpha is humbly stacking sats to self custody. Here’s another question: how much paper bitcoin is in the market? Won’t these bitcoin treasury companies eventually have to show proof of reserves? Or shouldn’t we demand proof of reserves from Coinbase?

2025-06-17 12:48:37 UTC

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@nprofile…6ya0 I think that might slow down bitcoin temporarily, but it would also show that bitcoin can’t be stopped by governments and the government overreach might make its use case clearer. Thoughts?

2025-06-17 12:47:23 UTC

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@nprofile…6ya0 what’s the biggest risk in the bitcoin market today—Bitcoin treasury companies making bad decisions and causing contagion, or something else?