Bitcoin Weasel

📈 Bitcoin & Strategy Investor | 📊 Data Analyst | 💼 Personal Finance Enthusiast $BTC $IBIT $MSTR $VOO $SGOV $IAU $SLV $VBR

[Bitcoin Weasel @BitcoinWeasel]

Satoshi’s coins are already economically frozen unless proven otherwise, and trying to formally freeze them is far more dangerous than just leaving them alone.

My view:

Do nothing to Satoshi’s coins. Ever.

Not because Satoshi deserves special treatment, but because Bitcoin should not have an admin layer deciding which coins are legitimate, abandoned, stolen, dangerous, or politically inconvenient.

That is the whole point.

There are three separate issues getting mixed together:

1. Dormant Satoshi coins

Satoshi-linked coins are probably lost, voluntarily untouched, or controlled by someone who has chosen never to move them. But “probably” is not good enough to change consensus rules.

The moment Bitcoin says:

“These coins have not moved in a long time, so we can freeze them.”

…it creates an awful precedent.

Because then the next question becomes:

“How long is long enough?”
“Which coins count?”
“Who decides?”
“What about dead people’s coins?”
“What about cold storage?”
“What about coins held for 30 years?”
“What about politically sanctioned addresses?”

That is exactly the kind of social/governance creep Bitcoin is supposed to resist.

2. Quantum-risk freezing

The more sophisticated argument is not “steal Satoshi’s coins,” but “old exposed address types may eventually be vulnerable to quantum attacks.” That is a real long-term technical concern. Recent debate has focused on whether dormant coins should someday be protected, sunsetted, or forced into safer address types. Paradigm’s Dan Robinson proposed PACTs as a possible way for holders to privately prove control before any future quantum-migration scenario, without freezing coins today.

That is the only version of the debate I take seriously.

But even there, I think the bar should be extremely high. A quantum migration path should be broad, neutral, opt-in where possible, and not targeted at “Satoshi coins.”

The rule should never be:

“We are freezing these coins because we think they belong to Satoshi.”

It would have to be more like:

“Certain cryptographic formats are being deprecated after a very long public warning period because the signature scheme is no longer safe.”

Even that is messy.

3. Stolen Mt. Gox coins

The Mt. Gox angle is emotionally sympathetic but philosophically toxic.

Former Mt. Gox CEO Mark Karpelès reportedly proposed a Bitcoin hard fork to redirect about 79,956 BTC from a stolen/frozen address to a trustee recovery address, and the proposal was quickly rejected. (CoinDesk)

I understand why creditors would want that. But Bitcoin cannot become a court system. Once the protocol starts deciding that these coins were stolen and those coins should be reassigned, it stops being neutral money and becomes a governance token with judges.

That is a death spiral for the monetary premium.

Because today it is Mt. Gox. Tomorrow it is FTX. Then exchange hacks. Then sanctions. Then estate disputes. Then governments. Then “dormant whale coins.” Then political pressure.

Nope.

My clean framework

Lost coins: leave them alone.

Satoshi coins: leave them alone.

Stolen coins: track them socially/legalistically, but do not rewrite Bitcoin.

Quantum-vulnerable coins: research migration paths, but avoid targeted confiscation/freezing.

Fork coins/eCash: they can do whatever they want on their own chain, but that is not Bitcoin.

Satoshi’s coins are already functionally frozen. That is part of BTC’s scarcity story. Lost coins make everyone else’s coins slightly more valuable. Formal freezing does not improve that. It damages the property-rights guarantee.

The market should want this norm:

If you have valid keys, your coins are yours.
If you do not have valid keys, nobody can help you.
If your coins sit untouched for 100 years, they are still yours.

That is brutal, but it is clean. And Bitcoin’s value comes from being clean.

So my take is:

Freezing Satoshi’s coins would be far more bearish than Satoshi’s coins moving.

If Satoshi’s coins moved, the market would panic, but Bitcoin would survive.

If Bitcoiners seriously accepted targeted freezing/reassignment, that would attack the core thesis: credible neutrality, immutability, and property rights.

[Aaron Cannon @AaronLCannon]

I started talking to my co-founder like Claude

[Bitcoin Weasel @BitcoinWeasel]

@uncledoomer I’m sorry I can’t condone these actions

[Bitcoin Weasel @BitcoinWeasel]

@XHabib I’d buy the hell out of this. I play in a band and I need cargo space. I’m not in love with the cybertruck look, but a van or suv would be dope.

[XHabib @XHabib]

If Tesla released a classic SUV it would probably outpace the Model Y in sales

Would you want this?

[zerohedge @zerohedge]

Tesla Design Chief Says EV Supercar Roadster Is Coming "In A Few Weeks" https://t.co/swqAyVgxOs

[Jaynit @jaynitx]

Elon Musk reveals why he believes the cheapest place to put AI will be space within 36 months

"The availability of energy is the issue. Everywhere outside of China, electrical output is more or less flat. The output of chips is growing exponentially, but the output of electricity is flat"

"How are you going to turn the chips on? Magical power sources? Magical electricity fairies?"

"Space is really a regulatory play. It's harder to build on land than it is in space. It's harder to scale on the ground than it is to scale in space"

"It's always sunny in space. You don't have a day-night cycle, seasonality, clouds, or an atmosphere. The atmosphere alone results in about a 30% loss of energy"

"Any given solar panel can do about five times more power in space than on the ground. You also avoid the cost of having batteries to carry you through the night"

"My prediction is that it will be by far the cheapest place to put AI. It will be space in 36 months or less. Maybe 30 months"

"The only place you can really scale is space. Once you start thinking in terms of what percentage of the Sun's power you are harnessing, you realize you have to go to space"

"Solar cells are already farcically cheap. In China they're around 25-30 cents a watt. Now put them in space, and it's not five times cheaper, it's 10 times cheaper because you don't need any batteries"

"The moment your cost of access to space becomes low, by far the cheapest and most scalable way to generate tokens is space. It's not even close"

"Those who have lived in software land don't realize they're about to have a hard lesson in hardware. It's actually very difficult to build power plants"

[Possum Reviews @ReviewsPossum]

Last night, I read the entirety of C.S. Lewis' The Screwtape Letters. It's a novel told in the form of letters written by a demon to another demon instructing him on ways to manipulate his "patient" to do evil.

This one quote sounded familiar.

[illuminatibot @iluminatibot]

If your country has enough money to give money to other countries, your taxes are too high.

[Strategy @Strategy]

Digital Fortress. $MSTR

[Bitcoin Weasel @BitcoinWeasel]

@velo_xyz This is satire right? Please be satire.

[by @beyoumf]

Instagram: where average people pretend to be millionaires.

Twitter: where millionaires pretend to be average people.

[Bitcoin Weasel @BitcoinWeasel]

@CoachDanGo i might have to mute the word potato. my whole feed has been nothing but potato worship for 2 weeks now.

[Bitcoin Weasel @BitcoinWeasel]

@n_zappala4 the amount of potato related content on my feed lately has been astounding.

[Officer Frenkly (Not High IQ) @FrenklyOfficer]

btw this is how the average Midwestern American woman of reproductive age looked prior to the introduction of the Immigration Act of 1990

[Sahil Bloom @SahilBloom]

Everyone needs to hear this:

Effortlessness is earned.

[Jay Yang @Jayyanginspires]

A wise mentor once told me: "Before you play the game, study the winners. If you don't want their life, don't play their game."

[Charlie Bilello @charliebilello]

With $1 trillion, Elon Musk could buy all...
32 NFL Teams ($227 billion)
30 NBA Teams ($165 billion)
30 MLB Teams ($95 billion)
32 NHL Teams ($67 billion)
30 MLS Teams ($23 billion)

And still have more than $400 billion left over.

[naiive @naiivememe]

crypto bros right now

[AlgoFlows @algoflows]

Berkshire management ever since Buffett retired