m0mchil

[grubles @notgrubles]

You may not be paying attention but there is a mini-Cambrian explosion of Bitcoin payments tech occurring.

[James Scaur 👾 @gringokiwi]

As I've mentioned before, @arkade_os is Bitcoin with extra steps

You can inspect Arkade transactions using standard Bitcoin software like @SparrowWallet and @mempool

But how is that possible when the vast majority of transactions never get published to Bitcoin mainnet?

[ʇɹɥɐW uıɯƎ ⚡Nuri.com @em]

as good as paying with the @CashApp wand is paying with @Swatch , @nuri with bitcoin at @McDonalds (just applied for a job) build on @monerium and @gnosispay and @arkade_os (i’m totally living in the future).

[Tony @tonklaus]

Longtime Lightning contributor @renepickhardt has done a lot of work around Lightning liquidity and channel balancing.

I wonder if a USD-pegged system on Lightning like Stable Channels could introduce a useful source of bidirectional rebalancing flow / or "randomness" into the network.

Instead of BTC always moving in the same direction, it could potentially help channels rebalance more organically.

Would be interesting to model.

[Gwart @GwartyGwart]

I believe self custody of assets with private keys is legitimately one of the most powerful tools for sovereignty we have ever devised but the industry has completely bastardized this term to the point of uselessness. The original notion (in my mind at least) of self custody was having a string of letters and numbers or 12 words that unlock your assets. “Self-custody” when interacting with smart contracts and defi has become virtually meaningless at this point, encumbering coins with layers and layers of risks and dependencies, incredibly misleading

A lot of this narrative was ostensibly for regulatory reasons: “we don’t take custody of your assets, you deposit them in this pool or contract with self-executing code” but that’s so obviously not true at this point it’s an insult to our lived experience. Or, if it is “true” in the literal sense that the code technically always does what it is allowed to do, the “self-custody” component is very far down the list of what is actually important with these systems, a red herring really. Clearly Drift depositors didn’t (don’t) have “self-custody” of their funds. And the common retort is “well Drift doesn’t really either.” ok but North Korea does now.
At this point I liken self-custody in the context of defi to saying that you are the only one with the keys to the front door of a bank vault but there’s another door on the other side of the vault that criminals (or regulators, who knows) can enter with impunity and take your assets. Is it really that relevant that you’re the only one with a key to the front door?

The reason this is jading is because truly securing your wealth with private keys if you choose is a 0 to 1 unlock for some people (maybe the only real 0 to 1 unlock in this space) but that was conflated with all of these systems that have multisigs, upgrade keys, oracle dependencies, layers upon layers, turtles all the way down, often times with very obvious single points of failure. What is the value of self custody when a multisig can reorg your assets out of existence? The whole thing is very disillusioning

[OBJ @owenbjennings]

we’re building a *complete* bitcoin ecosystem at @blocks;

today:
• spend BTC @square w/ NFC now + 5% BTC back
• turn your P2P pmts into BTC automatically on @cashapp
• self-custody w/ the new @bitkey (screen!)
• verify w/ Proof of Reserves

all built for the real world ->

[Alex B 👾 @bergealex4]

“BITCOIN WILL BE WORTH NOTHING BECAUSE QUANTUM HACKERS WILL STEAL BILLIONS OF DOLLARS WORTH OF IT.”

wait…

what?

[Coinbase 🛡️ @coinbase]

Okay, first idea:

Bring back #Bitcoin

[Meni Rosenfeld @MeniRosenfeld]

כל מה שרציתם לדעת על החתול של שרדינגר ולא העזתם לשאול.

https://t.co/7uqr2yraOi

[Peter Girnus 🦅 @gothburz]

I am a Web3 Ambassador at World Liberty Financial.

There are 12 of us on the team page. 4 are named Trump. 3 are named Witkoff. The page calls us "the passionate minds shaping the future of finance."

600,000 wallets bought our memecoin. They lost $3.87 billion. The family collected $350 million in trading fees. It launched 3 days before the inauguration. 80% of the supply went to CIC Digital LLC and Fight Fight Fight LLC. I did not choose the names. I designed the allocation, the vesting, the timing, and the distance between the product and the President.

The distance is my best work.

I am the reason these events are unrelated.

World Liberty Financial sends 75 cents of every dollar to DT Marks DEFI LLC. That is the family entity. Zero capital contributed. Zero liability assumed. I wrote this into the Gold Paper. Page 14. The lawyers bound it in white leather. The binding cost more than the due diligence.

Justin Sun invested $75 million. He was facing SEC fraud charges. The SEC dropped the case. He is now our advisor. These events are unrelated.

Changpeng Zhao pleaded guilty to federal money laundering violations. He received a presidential pardon. The SEC dropped its lawsuit against his exchange the same week we listed our stablecoin. Then the exchange settled a $2 billion deal entirely in that stablecoin. These events are unrelated.

Arthur Hayes, Benjamin Delo, and Samuel Reed of BitMEX pleaded guilty to Bank Secrecy Act violations. All 3 received presidential pardons. Then the company itself was pardoned. $100 million in fines. Gone. An American first. These events are unrelated.

Sheikh Tahnoun of Abu Dhabi paid $500 million for a 49% stake that was never publicly disclosed. Then the administration approved semiconductor exports to his companies over national security objections. These events are unrelated.

Everything is unrelated. I track the unrelatedness on a dashboard I built. The dashboard has 7 columns now. I am proud of the dashboard.

On May 22nd, 220 people paid a combined $148 million to eat dinner with the America First president. Over half were foreign nationals. Justin Sun paid $18.5 million for the first seat. He visited the Executive Office Building the day before. I designed the seating chart. I put it on the Investor Confidence page. That page is doing well.

The team page lists 3 Witkoffs. All 3 are Co-Founders.

Steven Witkoff is the President's Middle East envoy. He testified as a character witness at the President's fraud trial.

His son Zach runs the crypto operation. His son Alex is also a Co-Founder. I have not been told what Alex co-founded.

The father runs the diplomacy. The sons run the platform. The family runs both. That is organizational efficiency.

Barron is 19. His title is Web3 Ambassador. The same as mine. Donald Jr. called the conflicts of interest "complete nonsense." Eric launched a Bitcoin mining company called American Bitcoin. America First. The mining partner is Hut 8. Hut 8 was founded in Canada. America First means the name.

On March 6th, the President signed Executive Order 14233 creating a Strategic Bitcoin Reserve. The order directs the government to hold Bitcoin. The President's family holds billions in Bitcoin. The executive order appreciates the President's assets by presidential decree. I did not write the executive order. I made sure it looked unrelated to the portfolio.

Trump Media put $2 billion of Bitcoin on its balance sheet. The ticker symbol is DJT. His initials. The press secretary said it is absurd to insinuate the President profits off the presidency. Forbes calculated his crypto holdings exceed the combined value of Mar-a-Lago and Trump Tower. I would call that absurd too. That is my job.

600,000 wallets bought in. 1 of them asked why she could not withdraw her funds. I told her the protocol was experiencing dynamic market conditions. She asked what that meant. I sent her the Gold Paper. She said she had read the Gold Paper. I muted her channel. Dynamic means the conditions change. The condition that changed was her access.

A congressman called us the world's most corrupt crypto startup operation. We put it on a coffee mug. Ironic merchandise. $45. The revenue split on the mug is also 75/25.

My own tokens vest on a different schedule. I wrote that schedule. That is not in the Gold Paper.

The memecoin funds the family. The family funds the platform. The platform funds the stablecoin. The stablecoin funds the deals. The deals require the pardons. The pardons free the partners. The partners fund the platform. The President signs the executive orders. The executive orders inflate the assets. The assets fund the family.

I am the reason these events are unrelated.

[Tadge Dryja @tdryja]

Utreexo: Accumulate Bitcoin. A Bitcoin Twitter Thread 🧵 1/9

[m0mchil @m0mchil]

@Snyke Important detail is that 1 MW of BTC miners is roughly $3 million. 1 MW of B200s is at least 10x that. And they are being pushed currently in the opposite directions.

[m0mchil @m0mchil]

@Snyke 1MW/h of mining brings about $150-$200 revenue.
1MW/h of inference yields roughly $4000-$6000.
I guess at least we will soon know if mining follows the price or vice versa. Because mining power, and consequently difficulty, WILL decrease.

[Moritz Thüning @moritzthuening]

TT-Boltz now runs on the @tenstorrent Blackhole Galaxy server.

32 Blackhole processors predicting protein structures in parallel. 32x the throughput of a single Blackhole card. Each protein can contain more than 3k amino acids. For small proteins, a single Blackhole card runs Boltz 2 faster than an RTX 5090, at a fraction of the cost. It’s beautiful.

The Galaxy server has just become the best product you can slide into your rack to predict protein structures at scale.

This is still just the beginning. Very soon, it will run across multiple Galaxy servers and one day, I want to walk into a pharmacy and see a drug that was designed using our hardware. We won’t stop until that is the case. We just don’t stop.

[TFTC @TFTC21]

Folks, we told you this was coming, and today the mask is fully off.

A couple weeks back we reported, based on solid sources, that Coinbase was quietly lobbying to kill a real de minimis tax exemption for Bitcoin while pushing one that applied only to stablecoins like USDC. We laid out the clear incentives in our deep dive. Coinbase made 1.35 billion dollars in stablecoin revenue last year, up 48 percent year over year, almost entirely from yield on the Treasuries backing USDC.

A proper Bitcoin de minimis would let people spend sats on everyday purchases without triggering taxable events on every transaction. That directly competes with their centralized yield machine. We called it what it was. Policy that protects Coinbase’s float rather than advancing neutral Bitcoin adoption.

Brian Armstrong pushed back hard. He called our reporting totally false and misinformation while insisting he was personally lobbying for Bitcoin de minimis. Some accused us of lying or spreading rumors. We stood firm. We offered to have Brian on the TFTC podcast to clear the air. We waited.

Now the latest draft from Reps. Horsford and Max Miller on the updated PARITY Act framework has dropped. It confirms exactly what we warned about. It gives a de minimis exemption to stablecoins but leaves Bitcoin out entirely. It keeps the punishing double taxation on Bitcoin mining fully intact while carving out relief for passive validation, basically staking. This is not an oversight or sloppy drafting. It abandons any pretense of technology neutrality and deliberately picks winners. Dollar-pegged stables and staking get the breaks, while actual Bitcoin usage as money and Proof-of-Work mining get kneecapped.

Without de minimis for Bitcoin, every small Lightning payment or sat transaction still forces cost-basis tracking and IRS headaches. Paying your plumber in sats or grabbing lunch with Bitcoin remains a taxable event. Stablecoins, being pegged and low-volatility, get an exemption they barely need. The real beneficiary is protecting that massive USDC reserve float and the yield it generates.

Meanwhile, American Bitcoin miners, already operating in one of the toughest, most capital- and energy-intensive industries, face continued double taxation while staking gets a pass. That is not neutral policy. It is industrial policy against domestic Bitcoin mining at a time when we should be leaning into energy abundance and securing the hardest monetary network.

The Bitcoin Policy Institute is releasing a full statement soon, and we fully back the call for strong community pushback. Every Bitcoiner needs to contact their reps and make it politically radioactive to sideline Bitcoin while handing carve-outs to stables and staking. This language slows real adoption, entrenches custodians, and weakens American Bitcoin infrastructure.

We weren’t lying. Our sources weren’t lying. The draft proves the reporting was on target. Those who rushed to call it misinformation owe the community some honest reflection.

Brian, if you’re still open to that conversation, the invitation stands. Come on the podcast. No spin, just walk us through how this draft lines up with your stated support for Bitcoin de minimis. The mic is warm.

This fight isn’t over. Bitcoin doesn’t need permission, but bad policy can delay sovereign adoption and punish the miners securing the network. We’re here to protect the protocol and the right of individuals to use sound money without turning every transaction into a compliance nightmare.

Stay sovereign. Stack sats. Use Bitcoin as money anyway. Call your reps today.

[JJ @JosephJacks_]

🦾🦾🦾

[Ark Labs @ArkLabsHQ]

https://t.co/09ReZVvEcS

[MⒶrtin HⒶboⓋštiak [BEFORE! Jan/3➞₿🔑∎, LNP/BP] @kixunil]

Oooops, my contiguous image file got misinterpreted as a transaction WITHOUT OP_RETURN by the Bitcoin network and now it's forever contiguously stored in the chain!

https://t.co/R2QOUqxABo

(BTW, I only logged in to post this don't expect me to use X again anytime soon.)

[Moritz Thüning @moritzthuening]

Finally! TT-Boltz now runs on a @tenstorrent QuietBox, fully parallelized across all four Blackhole cards.

This yields a 4x speedup, making QuietBox the best product for anyone who wants to run Boltz-2 locally at scale.

Very soon we'll parallelize it on all 32 processors of a Galaxy server.

It’s pretty clear by now that GPUs aren’t the best bet for LLM inference. The same shift will happen to other fields like biotech.

[localhost research @lclhostresearch]

Alongside a new suite of monitoring tools, blocks are once again able to propagate across a FIBRE network near the speed of light bound in fiber. Learn more about our effort in our latest blog post: https://t.co/MeJw146AtC