molefury

Sovereignty is not privacy. It’s power that does not ask.
This is not the end of sovereign Bitcoin. But it is the end of pretending.

[molefury @molefury1]

@mattkratter It's one thing to recognize a hard fork is inevitable, due to conflicting interests

The more interesting question is the timing

One can start with a more economically/reputationally viable chain by fighting on a different hill

Provoke 'Core' to over-react

[molefury @molefury1]

@James_Hawke1 +1

[molefury @molefury1]

@LukeDashjr @BitcoinMonk21 Coalition

Knots/Luke + OCEAN + another independent mining bloc + one reputable exchange + two major self-custody wallets + one hardware-wallet ecosystem + 10–20 economically significant Bitcoiners publicly committing not to abandon the chain

[molefury @molefury1]

@TheMarcitect The world is fucked up because you advertise shit like this as real

[molefury @molefury1]

@UnderCoercion The starting point is when you realize that the ‘news’ is a lie

[molefury @molefury1]

@BitcoinMonk21 What happens is then you actually have a successful hill to fight on...

...unlike BIO-110

[molefury @molefury1]

The emotional intensity suddenly makes more sense

Two factions weren’t really fighting over 80b vs 100KB

They were fighting over whether blockspace should remain monetary infrastructure or become infrastructure upon which an entire new financial industry can be constructed

[Jim @elkrun21]

A bitcoin-backed stablecoin has been in the works for years. For example:

Alpen Labs, founded in 2022, came out of stealth mode in 2024. They intend to enable a bitcoin-backed stablecoin called Bitcoin Dollar (BTD) on the bitcoin base layer ... by exploiting Taproot/tapscript and OP_RETURN. They're on Bitcoin SigNet now with plans to launch on mainnet.

IN LATE 2025 THEY DOCUMENTED THEIR INTENTION TO USE 100KB OP_RETURN. https://t.co/U5FGT4cc7S

I wonder if Strategy is talking with them, or perhaps thinking of doing something similar on their own.

BIP110 would have hindered this.

Also:

Wences Casares (co-founding donor of both Brink and LocalHost Research who fund Core) is an angel investor in Alpen Labs. https://t.co/EmmsRvBZ1o

John Pfeffer (the other co-founding donor of Brink) is also an angel investor in Alpen Labs. https://t.co/O6GF0XRMuw

Wences Casares is also known as "Bitcoin's Patient Zero". In early 2013 at a Private Retreat/Conference at the Ritz-Carlton in Tucson, Casares presented on Bitcoin to a gathering of tech/finance leaders. Attendees included Reid Hoffman, David Marcus, Marc Andreessen, Chris Dixon, Dick Costolo (Twitter), and others.

This spawned Blockstream, Xapo Bank and Lightspark, all significant funders of Core.

Blockstream has stated their desire to softfork Simplicity onto Bitcoin to support non-bitcoin assets, what they call Grantor Tokens.

And Lightspark recently announced their Grid Global Accounts, which supports stablecoins on the base layer.

A lot of this would have been hindered by BIP110.

More info here: https://t.co/0VtCpcTZoP

[molefury @molefury1]

@elkrun21 @Puncher522 The emotional intensity suddenly makes more sense

Two factions weren’t really fighting over 80b vs 100 KB

They were fighting over whether blockspace should remain monetary infrastructure or become infrastructure upon which an entire new financial industry can be constructed

[molefury @molefury1]

@flaming_hodl Imo, a hard fork is inevitable

But the timing matters

The current proposal forks in the face of weakness

[molefury @molefury1]

@_PyBlock_ @OrganicAnt @peterktodd If BTC Truth was smart, you’d provide the rope for this child’s views to hang by

[molefury @molefury1]

@ICOffenderII @hodlonaut @peterktodd Parody account or not…

…the smart move is to infiltrate Core to push this slop on a timeline

Sow the wind, reap the whirlwind

[molefury @molefury1]

@hodlonaut @FarsideInsights If BTC truthers are smart, they’ll play in to Doughboy Todd’s dereliction

Encourage Core to overstep

Then sovereigns are fighting on a better hill than BIP-110

[molefury @molefury1]

@mattkratter @BitcoinBombadil @saylor Saylor is asking:

What economic job is BTC actually best at?

Kratter is asking:

What economic job must BTC perform to remain BTC?

Saylor’s answer can be empirically pragmatic even if his Physics of Money presentation deserves exactly the mockery Kratter gave it

[molefury @molefury1]

@pete_rizzo_ The real sovereignty question was never whether everyone would buy coffee with base-layer BTC

It was whether underneath all the inevitable financialization there remained an uncapturable bearer asset that an individual could exit into without anyone’s permission

[molefury @molefury1]

The real sovereignty question was never whether everyone would buy coffee with base-layer BTC

It was whether underneath all the inevitable financialization there remained an uncapturable bearer asset that an individual could exit into without anyone’s permission

[The Bitcoin Historian @pete_rizzo_]

JUST IN: BILLIONAIRE MICHAEL SAYLOR JUST SAID #BITCOIN WILL NOT BE A "MEDIUM OF EXCHANGE"

"BTC IS CAPITAL, NOT MONEY. A BTC BACKED STABLECOIN COULD BE."

"WE NEED TO CREATE A BTC BACKED STABLECOIN THAT PAYS YIELD"

"DIGITAL CURRENCIES ARE THE WINNER OF MEDIUM OF EXCHANGE"

"THERE ARE FUNDAMENTALIST BTC OGs THAT WISH THAT WASN'T THE CASE"

"99.9% OF THE WORLD'S PRICES ARE IN USD" 👀

[molefury @molefury1]

@e_galv Many or most young age 'celebrity' deaths should be assumed to be fake; often a deeper move into 'Intelligence'

[hodlonaut @hodlonaut]

Got this shot of Consensus, just as it emerged organically (of its free will and not forced) out of its lair.

[molefury @molefury1]

@hodlonaut They are supposedly escaping captured, concentrated SHA-256 mining...

...by inheriting a much smaller pre-existing ASIC ecosystem whose owners could dominate the new chain even more easily

And it still doesn’t eliminate the prank-attack issue

[molefury @molefury1]

@Shireh0dl The strategy is to provoke Core into a self-inflicted wound

Their hubris is the predicate

[molefury @molefury1]

@Ben__Rickert The non-obvious wrinkle is BTC

Institutionalization may make BTC behave more like the top of Exter’s pyramid during the first phase of a crisis, not the bottom