#bitcoin. Co-founder @LookingGlassEDU Co-Author of B is for Bitcoin
Australia
Joined February 2020
- Tweets18.7K
- Following2.3K
- Followers5.2K
- Likes39.2K
Pinned Tweet
I was asked by some friends recently why I thought bitcoin was the only undervalued asset left. The answer while long and complex can be broken down by understanding the fundamentals behind how everything is valued. That is from the treasury bond market and the risk free rate 1/
Ever wondered how bitcoin really works?
We break it down here and I share some of the technical aspects behind blockchain, cryptography, private and public key pairs and what’s in the engine room of this phenomenal technology.
youtu.be/0Mp06PxHNTQ?si=cPV9…
Hope you got some #Bitcoin
And yes, this can (and does) happen in your neck of the woods
🇵🇾 Paraguay’s Ueno Bank has been shut down after regulators discovered its capital had fallen below half the legal minimum.
Nearly 3 million customers affected.
Hundreds of millions in public funds, including pension money, exposed.
Now watch how the losses are distributed.
They can socialise the losses through deposit insurance, a taxpayer-funded bailout, or a bail-in imposed on creditors and uninsured depositors.
Then transfer the viable assets and customer deposits to a larger bank.
The losses can be absorbed by depositors, creditors, insurance funds or taxpayers.
The surviving Financial Industrial Complex (FIC) players can acquire the assets and customers.
Socialise the losses.
Privatise the gains.
Consolidate the banking system.
Wash.
Rinse.
Repeat.
Remember.
When you deposit money in a bank, you generally become an unsecured creditor of that bank.
You have effectively lent the bank your money.
The bank becomes the legal owner of those funds.
In return, you hold an IOU, a legal claim against the bank, protected only to the extent applicable deposit guarantees and recovery rights allow.
Your bank balance is the bank’s liability.
Not your money sitting in a vault.
Daz ₿ retweeted
the rba is raising fucking interest rates as we approach the ai singularity.
bunch of kunst
today they raised their cash rate to 4.85%. rate settings at two decimal points of absurdity.
they cite the middle east oil shock and, astonishingly, the inflationary effects of ai investment.
yep. ai. the same technology that might be about to make vast quantities of human labour economically redundant.
and they're worried about the price of computers. i'm worried about the price of human beings.
think about the sequence. first comes the extraordinary spending on data centres. shortages of chips. rising electricity demand. inflation.
but what happens when the machines start doing the work?
what happens to wages when employers discover they need fewer people? what happens to consumption when the mortgage is still there but the salary isn't?
that's the deflationary carnage i'm trying to imagine.
and the grey suits in australia are staring at today's inflation print and raising the price of time.
to be fair, they've got an argument. domestic capacity is tighter than they thought and inflation expectations have risen. i understand that.
but house prices are already falling. unemployment is rising. three of the nine board members wanted to hold.
and now they're tightening into what could become the greatest labour-displacing technological revolution in human history.
perhaps ai delivers a productivity miracle without the unemployment catastrophe. i'd love that.
but imagine the alternative.
a country drowning in household debt discovers that the value of human labour is falling just as the central bank makes servicing that debt more expensive.
they're fighting the inflationary cost of building the machines.
i'm terrified of what happens when they switch them on.
🌴🏴☠️
🤖 Made with AI
“The climate should be repeatable and follow trends….. it should follow my model”
Also:
We were taught that Earth orbits the Sun in a closed circle. In reality, Earth has never returned to the same point in space once in 4.5 billion years.
Right now, the Sun is carrying Earth and every planet around the center of the Milky Way at 230 km/s (828,000 km/h), more than 18,000 kilometers every 80 seconds.
Because the Solar System is tilted 60.2° to the galactic plane and bobs up and down through the galactic disc roughly every 30 million years, the planets trace open 3D corkscrew helices across deep space rather than flat loops.
The last time the Sun stood where it stands today, one Galactic Year (230 million years) ago, the very first dinosaurs were only beginning to appear on Earth. Since forming 4.6 billion years ago, our Sun has completed only 20 laps.
You can have your cake and eat it too…
Wicked is right about the problem, but not the conclusion.
Expecting families to manage complex multisig arrangements themselves is unrealistic. But that’s an argument for collaborative security, not against multisig.
Independent keyholders, no single point of failure, documented inheritance and rehearsed recovery.
Your family shouldn’t need to become Bitcoin security experts to inherit your Bitcoin.
The goal isn’t simply to secure your Bitcoin for your lifetime. It’s to make sure it survives you.
thebitcoinadviser.com/collab…
Daz ₿ retweeted
🇦🇺 Australia has the worlds most expensive passport $422. Strewth crikey dingo mate. 🪃 🍺
Daz ₿ retweeted
I'm still not over the BTCPay Server hacks from August. And I don't think I ever will be.
Nine years of coding, building community and creating value with others, only for a lot of that value to be stolen by thieves and AI hackers.
When I look back, the only thing I feel good about is how fast our community reacted, and how many more people were saved from catastrophic losses.
As a FOSS project, we responded better than governments, big corporations and most for-profit companies did. Everyone who contributed should feel proud of the part they played in the response.
What remains is the realization that we are in a new era. The people who robbed us only managed it because they got access to frontier AI models faster than we did. AI has fundamentally changed software development.
So our job now is to build better ways for humans to work with AI while it writes the code.
Developers were already being tortured. The boss wants it yesterday. Sales sold it last week. Product changed it this morning. Everyone in the company wants it faster, and the end users want it perfect. Your backlog has a backlog.
Now add attackers running frontier models that read your entire codebase overnight. It's literally impossible to keep up.
If you're still coding by hand, you're bringing a keyboard to a drone fight. You will not make it.
In this brave new world it's all about having AI running your development and defense, ensuring it's as close to frontier as possible.
And that you are connected with other humans who share your morals. Those who will not only refuse to steal from others, but actively fight thiefs, sharing lessons they learned.
A world where those who create value get to keep it. That's the only world I want to live in.
I’m really really tired boss
CryptoBilis update
We've been made aware, through responsible disclosure, of a single hardware implant in a Trezor Safe 5 device bought from the reseller CryptoBilis in August 2026.
No CryptoBilis buyer has reported a loss of funds to us.
IMPORTANT: If you bought a Trezor from CryptoBilis from March 2026 onwards, we know this is unsettling. Here’s what to do:
Already using it?
Move your funds to a newly created wallet with a new seed as soon as possible. Do not reuse the old seed in any wallet, hardware or software. If you don’t have another secure hardware wallet available, we recommend temporarily migrating your funds to a software wallet or an exchange you are familiar with.
Not set up yet? Don’t set it up, and never enter your existing wallet backup on it.
We haven’t received the device to confirm this report, but based on the customer’s description, we’re treating it as credible and sharing it now so customers who purchased a Trezor via CryptoBilis can secure their funds as a precaution. Our security team will examine the device as soon as it arrives.
On October 9, 2026, we removed CryptoBilis as a reseller following reports of tampered Ledger devices sold through it. Since then, we have been inspecting Trezor devices that customers bought from CryptoBilis and have found no signs of tampering on any of the four devices we’ve received so far.
NEVER share your wallet backup (recovery phrase) with anyone. Trezor Support will never ask for it.
If you are affected by this incident, please keep your CryptoBilis device and contact Support to receive a new Trezor hardware wallet: trezor.io/support#open-chat
We're investigating and will post updates here as soon as we know more. Thank you to the customer who reported this through our responsible disclosure program, and to @SEAL_911 for working alongside our teams on the response. Reports and engagement like this help us protect everyone else.
For more information, visit our blog: trezor.io/blog/news/implant-…
