This directly inverts causality and ignores Biblical teaching The Word teaches us that even a slave is capable of virtue, in fact virtue is demanded of the slave Freedom is not a perquisite for virtue, freedom is the rare and precious fruit of virtue

This is satire, for now. But entirely possible. Credit spreads on bitcoin backed loans may eventually go negative, as this satirical risk becomes more and more real, while the market continues to understand that over collateralized loans are literally risk free, when done right.

“You guys can create any scary stat you want.” @jvisserlabs on the wall of worry around corporate debt: why cash matters, and what he thinks rising credit-default-swap prices are actually telling us.

Friends, Fulton Sheen was a fierce voice against communism, recognizing its threat and its essential atheism. He would be deeply troubled by its comeback in our country. While in St. Louis, I shared with Fox why we need that voice again today. Read it below:

SHIELDED MAINNET BITCOIN TRANSACTION How much did I send & where to? can't see! article & repo soon

When assisted suicide has a higher mortality rate than Peak Covid an event where you shut your country down to save the lives of old people you are now killing. We live in such a clown world its unreal.

It’s funny that OpenAI and Anthropic models are the ones “attacking the Internet with agentic swarms” and yet we’re being led to believe that we should hand them total control over model production when open source models haven’t done anything like this yet. Hegelian dialectic.

Her comments are not random. This is part of a well funded and carefully organized campaign to demonize open models and our civil liberties in DC. Multiple Senate staffers have told me that outside groups are requesting meetings to provide “demonstrations” where open source models are used to attack simulated hospital websites and demand bitcoin as ransom. These are cheap scare tactics funded by groups seeking to control open systems. In reality, cyber defenders rely on open models daily to find critical vulnerabilities before attackers get there first. If these groups are successful, we will all be poorer, less free, and more vulnerable to adversaries with increasingly capable systems.

These are devastating charts. Europe is cooked. The European tech industry has always lagged America’s. But AI turbocharged the gap, and it’s growing by the day. As AI starts displacing white-collar labor (in other words, as opex on token spend replaces opex on humans), a growing share of European GDP that used to get reinvested in EU economies will instead flow to US frontier labs and hyperscalers. Euros that used to go into the pockets of the continent’s top-quartile workers will instead be converted to dollars and accrue to the retained earnings of Anthropic, OpenAI, NVIDIA, Google, and Meta. For European tech companies, there’s no catching up. They’re not even playing the same game, let alone competing on the same field. US hyperscalers are projected to spend over $1 trillion on capex every year for the next three years; OpenAI and Anthropic are going to raise—and burn—hundreds of billions of dollars each. Meanwhile, the EU—with its onerous regulatory burden, high barriers to entry, weak capital markets, and entrepreneurial brain drain—has: - zero prominent frontier labs (no, Mistral doesn’t count) - no organic hyperscalers - minimal data centers construction, much of it owned by US companies simply trying to comply with EU data regulations - a startup ecosystem comparable to that of a tertiary US market, at best The continent that once gave the world steam engines, steelmaking, automobiles, synthetic fertilizer, X-rays, aspirin, nuclear fission, jet engines, and even the World Wide Web isn’t even on the map for the most disruptive technology innovation of our lifetimes. An entire continent’s economy doomed to the permanent underclass. It’s tragic. And it’s a tragedy entirely of their own making.

“Friction is fiat. It's the intermediaries slowing things down as much as possible.” @jvisserlabs on why he wants to invest in speed, not a financial system built around intermediaries.

Great time meeting everyone and presenting at Freedom Tech the last three days in DC. While there, Marty and I got a chance to sit down at Pubkey and go through the AI plus Crypto connection and why tokenization changes everything in the macroeconomic and investing landscape. Thanks Marty and Freedom Tech and the community.

If I ran a hot wallet, I’d go offline for week(s) to do full sweeps, or greatly reduce hot wallet liquidity/exposure and do aggressive sweeps.

It looks like @bitget hot wallet might’ve just been hacked… $174M across multiple chains and cold/hot wallets sent to 0x770b10b273fC44Fe9197D6bF20F145c2e98463Ee over the past hour.

“For your job, I don’t think you have any more time.” @jvisserlabs on how companies can fund AI by hiring fewer people, and why workers should learn the tools to compete with their employers.

Arlington’s Commonwealth’s Attorney testified that her office has a DUI policy specifically for DACA recipients. In a small number of cases, prosecutors have considered changing a DUI to a different first-degree misdemeanor so the defendant can renew DACA status. (We don’t have first-degree misdemeanors - they are called Class 1 misdemeanors - surprised an elected prosecutor doesn’t know that). She says the defendant is still held accountable and the original DUI charge remains visible. But DACA status is a factor in the plea resolution, one that an American citizen charged with the same offense cannot invoke. Should immigration status affect which crime appears on a defendant’s record? Source: Dehghani-Tafti deposition, p. 89, lines 6–22.

Bitcoin privacy will evolve with layered protocols Just as HTTP evolved to HTTPS by adding an SSL encryption layer - not by changing from HTTP

Hope Kyle Juszcykyzck is happy with himself. My 4 year old son Chris saw this demanded that I only fill his sippy dinosaur cup with Bud Light, the official beer sponsor of the NFL

Shielded Bitcoin: Private Transfers on Bitcoin L1