VanHodl

#bitcoin

[VanHodl @VanHodl]

@hodlonaut @saylor You should eat the humble pie and shut up for a few weeks now

[Not that Elon. @Eggplant_Elon]

Orange pilled my mate down the pub last night.

Honestly, it’s so simple once you explain it properly.

I told him Bitcoin is just money you hold yourself.

He liked that. Then he asked how you hold it.

So I explained you buy a hardware wallet, but obviously not that one, and not that one either.

Then I said don’t trust its randomness, you’ll want to generate your own entropy with dice.

He said “like Monopoly dice?”

Bless him.

No, mate. Casino-grade precision dice, and verify they’re fair first, because a biased die is a biased seed.

Then I said roll it 99 times.

He asked why not fewer.

I explained that anything less than 99 rolls gives you less entropy, and while 50 rolls and 12 words is technically unbreakable by every computer that will ever exist, we don’t do technically round here. We do 256 bits.

He asked what a bit was. I told him not to worry about it.

Then I explained you do this in a room with no phone, no smart speaker, no camera, ideally soundproofed, because the acoustics of a dice roll and your keystrokes are a side channel.

He’d gone quiet by then, so I gave him a minute.

Then I said you’ll want 3 seeds, not 1, because single points of failure are what wiped out 500 people last week. So that’s 297 dice rolls.

Then multisig, 2-of-3, and you’ll need to back up the descriptor as well as the words, because 3 seeds alone won’t rebuild the wallet, and yes, that’s a fourth thing to lose.

Then I said store the 3 backups in 3 separate locations, because if a burglar or a house fire gets two, you’ve achieved nothing.

He asked where.

I said somewhere fireproof, ideally stamped in steel, definitely not the loft.

Then I mentioned the Faraday bag.

And the airgap.

And that you sign transactions by waving QR codes at a Raspberry Pi you built yourself.

And that you should rehearse the whole thing on a parallel test network with fake coins first, obviously.

He asked what happens if he gets it wrong.

I said you lose everything forever, and nobody is coming to help you.

Anyway, that’s another one onboarded. 💪

[VanHodl @VanHodl]

Kind of crazy that the 110'ers found a block

[VanHodl @VanHodl]

@benvhodl Only on X though. In bitcoin meetups I went to nobody was talking about 110, they all thought it was rediculous and didn't spend time

[Ben @benvhodl]

In hindsight, BIP-110 wasted a lot of valuable time.

[VanHodl @VanHodl]

@vanbiervlietcar Werkende mensen worden gewoon in klaar daglicht bestolen

[Matt Corallo 🟠 @TheBlueMatt]

Block security folks absolutely killed it yesterday.

[VanHodl @VanHodl]

@prevotmaxime Luckily we can always count on our politicians to monitor the situation

[Les Mileistes Français 🦁🇫🇷 @Mileistesfr]

Milei choque le monde avec une première mondiale!

Désormais, si l'Etat entre en déficit et que ce déficit n'est pas résolu en quelques semaines, alors ne seront plus payés les salaires:

- du président
- des ministres
- des principaux fonctionnaires du pays
- des députés
- des sénateurs

Et toutes les dépenses non-essentielles de l'Etat seront purement et simplement gelées.

Une mesure forte, brutale mais tellement logique.

Avec ce système, les dirigeants et les bureaucrates n'auront plus le choix que de maintenir un budget à l'équilibre.

Il est temps qu'ils arrêtent de jouer avec notre argent et notre futur en nous endettant sans limites.

[Matt Cole @ColeMacro]

BIP-110 made me even more bullish on Bitcoin.

Why?

Because of how decisively and publicly it is failing.

Every large, successful institution or network will continually attract people who want to reshape it. That’s inevitable. The test isn’t whether bad ideas appear. It’s whether the institution or network has the strength to reject them.

Over the last decade, we watched a relatively small but extraordinarily loud minority push much of corporate America to adopt ESG and DEI. Those policies weakened companies, distracted management from creating shareholder value, politicized corporations, and ultimately destroyed enormous amounts of shareholder value and public trust. The activists weren’t the primary problem. Weak leadership was. Too many executives, boards, and institutions lacked the conviction to say “no” to ideas that should have been rejected from the beginning.

At Strive, we quickly learned something in 2022 that surprised many people. The ESG/DEI “consensus” was far weaker than it looked. Once we began challenging it publicly, directly, and unapologetically, the entire narrative began to unravel. What had looked inevitable turned out to be remarkably fragile.

Bitcoin’s response to a similar test was very different.

A proposal to change Bitcoin without broad consensus was put forward by a small but vocal group of holders who dramatically overestimated their ability to influence Bitcoin’s direction. And it was rejected overwhelmingly and unapologetically throughout the Bitcoin ecosystem. Perhaps most encouragingly, Bitcoin leaders who often disagree on important issues found themselves overwhelmingly united in rejecting BIP-110.

That has been incredibly encouraging to observe.

Bitcoin doesn’t have a CEO who can be pressured. It doesn’t have a board that can cave to activists. It doesn’t change because a loud minority demands it. It changes only when ideas survive open debate, technical scrutiny, and earn broad voluntary support across the network.

BIP-110 didn’t.

What gives me even greater confidence isn’t simply that the proposal is failing. It’s that Bitcoin’s governance model is working as intended. The network demonstrated that bad ideas don’t become consensus simply because they’re loudly promoted or because a few influential people support them. They still have to persuade the people who secure, build, review, run, and use the network. Gaining consensus to change Bitcoin is intentionally difficult, and the network is passing yet another test in its journey.

This should make Bitcoiners even more bullish about the network and its future.

[VanHodl @VanHodl]

I am pretty sure that over half of 110'ers can't properly talk about the different implications of policy vs. consensus

[VanHodl @VanHodl]

@LukeDashjr @Bitbello 😂😂😂 come on Luke

[PurelyFootball ℗ @PurelyFootball]

The talent in Barcelona’s youth system is ridiculous.🔥

These kids are 11/12 years old.🤯🔵🔴

[Mandrik @Mandrik]

Mike Hearn, Gavin Andersen, Roger Ver, Jeff Garzik, Craig Wright, and now Luke Dashjr.

All people who thought they could control Bitcoin in some way.

All failed spectacularly.

[VanHodl @VanHodl]

@hampus_s @Cryptotea Or satoshidice transactions, or 2017 era Ver spam...

[VanHodl @VanHodl]

@LukeDashjr @MD_ata21 Your BIP does not prevent that and does a huge amount of damage in the process. That's why it does not have consensus.

[VanHodl @VanHodl]

@LukeDashjr @MD_ata21 You must be in a serious echo chamber. BIP 110 does certainly not have consensus. Lightyears from it.

[VanHodl @VanHodl]

@JoestarJokic What's the issue?

[Dathon Pwn @DathonPwn]

They block, because they do not seek the truth.

@LukeDashjr @dathon_ohm @mattkratter