Andy Scott

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Last Notes

2026-08-03 12:58:30 UTC

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Appreciate it. It's certainly humbling to be part of and I have the time to reflect.

2026-08-03 12:20:56 UTC

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I have been debating posting this, but here goes.
I'm currently halfway through a 3 week holiday of a lifetime with my entire family - kids, cousins, grandparents, spouses. A good few thousand miles away from home.
I found out like many others through nostr. Without wanting to give too much away, I'm in a very vulnerable position where the majority of my funds are likely already swept and I won't find out for another week and a half. I'm bearing the weight of this myself and don't want to tell my family while we're away. I'm not sleeping well and struggling to stay present here with the people I love. Not simply because I've lost my money, but my insurance for the future and my ability to help people financially, medically and through generosity.
I migrated most of my funds from ledger to Coldcard a couple of years ago, and actually paid to be handheld through the process by a well-known security focused podcaster. We spent an hour together and I felt a sense of relief afterwards knowing that I'd protected my future in the right way, gone above and beyond what most people would do and taken the time and money to do it correctly.
At no point was entropy mentioned. At no point were rice rolls suggested. I was firmly led to believe that this was the gold standard of security.
My issue is not that people have made errors of judgment. It's not that they've not verified code themselves.
My issue is that there are a cohort of people who have presented themselves as experts in the most crucial field in this industry. They've been paid to do so, not just in sponsorship from Coldcard, but in the very service they've offered.
So no, I'm not a dickless loser. I'm just not willing to brush it under the carpet lest this happens again to someone else.
I respect your opinion and agree with what you've said about @nprofile…vysa. You may feel differently about the rest if you'd lost significant funds, which I can only assume, maybe incorrectly, you haven't.

2026-08-02 02:33:07 UTC

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Fucking tone deaf.

2026-08-02 00:48:05 UTC

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Ok, I do like this one.

2026-08-01 23:41:29 UTC

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Maybe, but in the short to medium term, self-custody takes a massive hit and there'll be a cohort of people who leave for good.

2026-08-01 23:39:27 UTC

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I've verified that Coinkite are no longer trustworthy.

2026-08-01 23:37:52 UTC

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Yeah, which is the lesser of two evils if you have no other choice. But, the level of hypocrisy is off the scale. We're not pissed off enough.

2026-08-01 23:29:32 UTC

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The point is that we were told endlessly that Coldcard was the safest wallet to secure your funds. At no point was it said that a standard set up didn't generate enough entropy and would lead to this. And the 'as if you didn't roll dice 100 times' crowd need to remember they're dealing with normal people who have lost their life savings.
I personally paid $250 for a handheld tutorial and this was never mentioned. I thought I was the psycho going over and beyond.
The notion of mass adoption of self custody has been dealt a devastating blow.

2026-07-31 22:53:09 UTC

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You're clearly a good guy Derek, it's just that words matter.
This has been a damaging day for Bitcoin and there's been a litany of people who seem to have misread the room entirely. Most people thought that a hardware wallet was THE way to protect their life savings and they were told this endlessly by influencers and podcasters who were financially incentivised to do so. And specifically the Coldcard.
The main reason I didn't continue with my podcast was precisely because I felt imposter syndrome. I didn't want to wax lyrical about topics that I wasn't an expert in. It seems that there are plenty others out there who are quite happy to recommend actions and security set ups that they don't understand as long as they're paid to do so.
The only lesson to learn from this is that nobody is coming to save you and platitudes of 'sending you prayers ' or 'so sorry man' are not enough.
People have lost money yes, but that money represents your mother's health care, your son's inheritance, the family holiday you never took as a child, the retirement that allows you to look after your grandchild.
There's an increasingly large vacuum of integrity in this space that's growing bigger by the day.

2026-07-31 11:32:35 UTC

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? Silver linings? Have you honestly just said cheap sats?
You realise that people committed suicide over the Celsius scandal. There will be real people who have lost their entire life savings because they followed the advice of podcasters and respected contributors.

2026-07-13 17:21:27 UTC

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Appreciate this... I've read the first two (read Jeff's about ten times now I reckon, finally got it). Might be the perfect time to tackle the last one!

2026-07-12 21:10:52 UTC

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It makes perfect sense until you're required to put the ultimate hard asset up as collateral.

2026-07-12 21:08:10 UTC

I need some holiday reading... please shill me your best 3 bitcoin books and fiction books. Left field as you like.

2026-07-06 17:24:23 UTC

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Do you not think that in time at least, the two can't coexist?

2026-07-06 15:58:24 UTC

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I mean, he said what he said, and now he claims that's not what he said, but I really couldn't care less to be honest.
Of much greater importance is his stance on spending bitcoin being foolish. That's the red flag. Bitcoin is money, not pristine digital collateral to recapitalise the fiat system.

2026-06-26 20:41:30 UTC

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I forgot we were in a bear market 😅.

2026-06-26 20:35:50 UTC

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I honestly think this is a unit of account problem. 1000 sats feels like a lot more than a dollar.

2026-06-22 12:22:49 UTC

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He certainly has a habit of talking for half an hour without actually saying anything. And if I hear Chatham House Rules again, I'm gonna scream.

2026-06-18 19:57:00 UTC

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I was thinking of parallels to Anakin Skywalker and Michael Corleone, but this is much, much better.

2026-06-18 18:57:35 UTC

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This is why I'm here 😅

2026-06-17 09:49:43 UTC

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The biggest red flag for Michael is that he doesn't see bitcoin as money.

2026-06-12 17:24:51 UTC

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Has anyone ever suggested just staying humble and stacking sats?

2026-06-11 20:18:03 UTC

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Was a great listen.

2026-06-11 17:58:01 UTC

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At this stage, I'm considering going door to fucking door.

2026-06-11 17:47:05 UTC

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At this point, it could be one of many things. In my experience, most people are too busy raging at immigration to even know about legislative changes.
All the protests happening right now will just lead to a justification for the clampdown 'on the far right' through mass surveillance technology being rolled out.

2026-06-09 20:30:36 UTC

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True in many fields

2026-06-05 21:25:49 UTC

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Politely, 2 years is not low time preference. I do recall your previous frustration with Jeff's and others' thesis, but Bitcoin's value proposition has not changed.
I remain sympathetic to those that have one foot in each system - I'm one of them - but a debt-based monetary system built on ever expanding credit will be exposed by Bitcoin in time.

2026-06-05 19:33:22 UTC

After years of trying to orange pill my engineer brother-in-law, I actually succeeded today - without trying.
We were on a long journey and hike (the fan dance, check it out) and got to talking about money and the different schools of economics. He was asking about gold and I explained how it became money and it's flaws as a medium of exchange that led to its centralisation.
He started asking about Bitcoin again and I ended up explaining how fiat money was lent into a existence with interest charged on top that also didn't exist, and that the system had to continue to expand in order not to collapse. Against the backdrop of something truly scarce, he finally had his eureka moment.
I didn't have to fight him or convince him, he just came to the same conclusion in his own time. He asked all the right questions about security, the legitimacy of threats to ban it, cold storage, mining and even inheritance.
It's been a great day that has renewed my optimism that people will find it when they're ready. There's value in being the person they can come to to ask the questions.

2026-05-18 12:23:39 UTC

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I've been giving serious thought to being more like this.

2026-05-13 14:12:19 UTC

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Yeah, Marcus has always been a party-pooper.

2026-05-06 12:32:18 UTC

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I think the reason gold has larger market share is simply down to 5000 years of network effects against 17 years. Looking at it that way, the fact that it's even close is a major clue as to how the trend will continue.
Gold failed because it centralised. It centralised because it couldn't be used as an MoE. The speed of transfer of information became faster than final settlement of a rock. Bitcoin doesn't have that problem, but it will still centralise if we don't recognise this and use it as such.
Make no mistake, one of the biggest threats to Bitcoin is the over-emphasis of store of value. Those promoting it as an asset on which to recapitalise the existing system should be met with skepticism.
Just my two sats.

2026-05-03 12:02:02 UTC

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Jesus! That's a lot of water.

2026-04-16 19:33:31 UTC

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Yeah, this is how it should work from now on.

2026-04-16 19:31:00 UTC

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Without wanting to spoil it for those that have yet to read it, one of the things I enjoyed about it the most was that there was no explanation as to why Bitcoin failed. Almost like it's destined to win out.

2026-04-16 19:12:05 UTC

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If I zapped you 1 sat, I would expect you to acknowledge it - preferably with a GFY.

2026-04-16 19:00:08 UTC

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I've just finished reading Mandibles. The only thing that could have made it better would have been if there was a seed phrase cryptically hidden in the book.

2026-04-16 06:30:01 UTC

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Word it how you want, it's an awful idea .

2026-03-30 15:07:07 UTC

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To be fair, I think his message here is more about geopolitics than money. A rules based international order based on a system without rules will fail.
If someone is understands that fiat is based on theft, then it should also follow that anything built on top of this will also suffer from the same manipulation.
We shouldn't expect anything other than chaos and obfuscation from our 'world leaders' and their media. There is no saviour from within this lens.

2026-03-04 19:36:34 UTC

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Bet you Larry Silverstein wins again.

2026-02-19 20:01:14 UTC

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I took my family to The Sycamore Inn in Matlock in the UK today. It's about an hour's drive, but is the closest place to me that serves food and real ale and accepts payment in sats. Great food and proof it's a medium of exchange, even if we're a long way behind over here.

2026-02-11 21:17:10 UTC

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Thanks Daniella, I look forward to watching it.

2026-02-03 21:06:18 UTC

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I think it's opened my eyes to Bitcoin being under constant attack, and from multiple vectors.
It's easy to get carried away with clickbaity content that satisfies the hopium, and I've certainly been guilty of succumbing to that. But, we've got to be mindful of hero-worshipping and the cult of personality.
Bullshit needs to be challenged and there's a lot floating around right now.

2026-02-03 15:26:42 UTC

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Interested to know how this affects your opinion on the importance of Core/Knots.

2026-01-26 13:32:46 UTC

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Hope to see more of you on Nostr. The talk between yourself and @nprofile…tkhj was one I'd hoped of for a while. Appreciate @nprofile…4sn7 for putting this together.

2026-01-16 06:42:00 UTC

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Yeah, to have that amount of time away from a sport, particularly boxing, and to be able to make the levels he did when he returned is underappreciated. Then throw in the weight loss and the psychological barrier.
I think peak Fury was 2020/21 though.

2026-01-13 21:37:51 UTC

#boxstr
follows is one of the most iconic moments in modern boxing history. A true case of life imitating art.
Tyson Fury had been out of the ring for 2 and a half years following his victory over Wladimir Klitschko, a fight in which he became unified heavyweight champion against the odds. He battled alcoholism and depression and ballooned to 400lbs, before shedding 150lbs after reigniting his career with new trainer Ben Davison.
After two warm up fights, he went straight in against the most feared puncher in the division, WBC champ, Deontay Wilder. The Bronze Bomber had won all 40 fights, 39 by knockout. In fact, the only bout he went to points in was against Bermane Stiverne, who he later recorded a 1st round knockout of.
Many thought that it was a mismatch, and some even believed that it wouldn't go ahead. Fury boxed on the back foot, and, despite hitting the canvas in the 9th, onlookers believed he was on course to record a points win. Until the 12th round, when Wilder uncorked a typically devastating right hand.
There are two videos below, the first being the round in its entirety, and the second, a short which shows Wilder's Apollo Creed style reaction at what unfolded. The fight set the stage for arguably the greatest modern day heavyweight trilogy, one to rival any in history.
https://youtu.be/48kKhJdZ6jw?si=rSqJK_YiDhyzXzF7
https://youtube.com/shorts/zxT4jvRCJl0?si=Npv-v8tg2oSU_0ox

2026-01-13 17:57:02 UTC

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No, but I got woken up by my daughter while on the first night of a Mexican holiday at 4am, leaning over me while whispering 'is it swimming time?'

2026-01-10 10:19:45 UTC

I'm about halfway through The New Confessions of an Economic Hitman.
It's the book I think I needed. I'd urge you to pick up a copy if you've not done so already.
It uncovers how the modern US empire was shaped and comes straight from the horse's mouth.

2026-01-09 13:25:26 UTC

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The only accurate price prediction is infinity at some point in the future.

2026-01-08 20:55:05 UTC

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I've just read Robin Sharma's 'The Monk who sold his Ferrari'. I'd recommend it as an enjoyable and lighthearted way to explore this.
Everything starts with your thoughts, and you can control them.

2026-01-08 17:24:32 UTC

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I like to think you can encourage it by stirring people to ask questions, but it ultimately comes down to a yearning for truth. That can only come from within. Most people are content with their granola-fuelled illusion.

2026-01-08 17:16:48 UTC

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My then pregnant wife once vomited after mistakenly eating margarine. She put it down to nausea brought on by pregnancy. I told her it was margarine.

2026-01-08 16:34:28 UTC

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It will be largely dismissed and hugely politicised. RFK will be accused of being in cohoots with Big Steak, Big Chicken and Big Eggs and a new generation of people will attach their identity to the defence of margarine.

2026-01-08 16:28:59 UTC

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It represents a wider problem with people's inability to critically think for themselves.
We should stop theorising in place of practising. And stop delegating our opinions in place of forming them through our own experiences.
I've known for a long time that eggs make me feel better than bagels and never needed a doctor to give me permission to think this way.
I too am pissed off. Wait till they do a money pyramid.

2026-01-08 14:58:05 UTC

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I'm going with disingenuous over dumb.

2026-01-06 21:34:40 UTC

I barely watch TV these days, but sometimes stick something on when on the treadmill. Aside from an obsession with stories of survival, I've always loved SAS - Who dares wins.
I'd not seen the recent series until today and it startled me. It was like an infomercial for war. Every few minutes there were none too subtle references as to why UK civilians might be called up to fight in a seemingly imminent world war. At times it was unwatchable. Propaganda for conscription.

2026-01-06 07:49:32 UTC

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Froch was underappreciated for much of his career, but gained the recognition he deserved later on. He was a proper throwback fighter. I'd recommend watching the bouts against Pascal, Kessler 2, Bute and Groves 1 and 2.

2026-01-05 21:33:07 UTC

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People do make sandwiches...out of bread.

2026-01-05 21:23:21 UTC

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My contribution to #boxstr...
This was the fight that got me into boxing properly. Going into this, Carl Froch was a British Super-middleweight who had just won the WBC title in a thrilling contest with the tough and durable Jean Pascal.
This, his first defense, was seen as a step too far for Froch, who was widely expected to come unstuck against the superior boxer in Jermain Taylor.
Taylor was a former undisputed titlist at Middleweight and had beaten both Bernard Hopkins and, more recently, Jeff Lacy.
Taylor started well and dropped Froch for the first time in his career in the third round. Though the rounds were close, Taylor had a decent lead going into the final round, which left Froch likely needing a stoppage if he wasn't to fail in his debut defense. This is that final round....
https://youtu.be/o8rdW0b7jPU?si=HwPV7l2rf69-Q03x

2026-01-05 16:03:17 UTC

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As a Brit, I find this deeply offensive. Fortunately for you, I'm far too polite to bring it up.

2025-12-19 08:42:32 UTC

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And this is exactly why I'm sympathetic to your viewpoint. I did a pod last year with Jeff and have written articles using the Titanic as an analogy for this very position.
You can recognise Bitcoin as the lifeboat, but if you're underwater on the bottom deck of the Titanic and you can't breathe, then a lifeboat won't save you in time.
That's why I'm a big believer in reading the likes of 'Rich Dad, Poor Dad' and 'The Richest man in Babylon' as a starting point. You've got to pay yourself first and save something (in bitcoin) for your future self. It's existential. You'll then start to see the polarity of the two systems, as one gets worse and the other gets better.
And clearly, fiat inflation will make life more and more difficult in this system, but Bitcoin will reflect this, literally like a mirror image. It has to.
Both paragraphs you've written are absolutely true. And it will get worse and worse. So the question should be which system are you going to give more of your energy to if you know this?
Honestly, I tread a horribly fine line in my day to day life and have witnessed it as a small business owner getting progressively more difficult for several years. But transferring what energy you can into Bitcoin, both literally and financially, is the only thing I believe you can do. I just see it as a priority, not as something to do at the end of the month.

2025-12-18 17:36:06 UTC

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I'm sympathetic to your perspective and held the same one for a long time. I consistently have to check myself even now.
Those who are struggling, and I'd include myself in this, are not struggling because of a failure of Bitcoin, but because of personal finance. Spending less than you earn is the only place to start. Only then can you invest the difference in a new system that will measure deflation and reward a low time preference.
Bitcoin will always 'go up' when measured against pieces of paper over a long enough timescale.

2025-12-15 20:03:26 UTC

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Honest yes, but for $97 a month, I'd want better guidance than this. It never ceases to amaze me how people can claim to have been around since 2013 and still treat it like a tradeable asset within the fiat system.

2025-12-15 19:27:49 UTC

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This is awesome - I'm from the UK, but still, this is awesome.

2025-12-13 10:47:54 UTC

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Reposts?

2025-12-11 15:18:22 UTC

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The point is that it greatly reduces the friction points to do so. Yes, it's true that governments can pressure commercial banks to restrict access, but a CBDC would eventually remove the intermediary and give them absolute control.
It's mission creep towards a system whereby the issuance, usage, access and activity are all under one umbrella.

2025-12-10 16:27:19 UTC

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My take would be that commercial banks are gradually disintermediated. So, we don't all immediately have accounts directly issued by the central bank, but perhaps access via products issued by commercial banks at first.
If this happens, I'd say it's a decent bet that the end goal would be for everyone to have direct CBDC accounts with the central bank, perhaps on the premise of financial inclusion for everyone.
Once commercial banks lose their status, there's nothing between the customer and the central bank issuing and, most important, programming, the currency. They can then do what they want (link access, rates, privileges, to your social credit score).
Like I say, I'm not overly concerned either, but I think this is the gist of most people's fears.

2025-12-10 13:34:48 UTC

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Thanks for your reply, but I'm not sure I agree.
Negative interest rates for example. It's true that they could be employed now. But this would be through commercial banks. If this happened, people would rush to withdraw their money, a run on the banks. Through a CBDC, the commercial banks would be disintermediated. The policy would be set and implemented by the central bank directly.
It's true that there's already a net surrounding us, but CBDCs allow that net to be tightened further. For what it's worth, I don't particularly fear this, as I think attempts to employ it would push more people into Bitcoin. There are two systems we can choose from. A CBDC just makes the choice even more stark and obvious. It's an act of desperation from a failing system.

2025-12-10 11:22:48 UTC

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When it's digitally created by the central bank, it gives total control to the central bank.
The threat is not that it's digital, we already have that. It's that it becomes programmable with it.
Imagine a money whereby your access to it can be turned off. Where negative interest rates can be issued instantly and personally to individuals based on behaviour.
It's a totalitarian's wet dream and Bitcoin is the antithesis.

2025-12-04 22:03:31 UTC

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It was a fantastic conversation Daniella - just what I needed at the time, and one I'll return to again. I listened to your previous audio only interview with Jeff a while ago (I think you were under a different name at that time), and that was always one that stuck with me. Best of luck moving forward.

2025-12-04 20:25:43 UTC

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I didn't actually realise that until the end of the film, but will definitely check it out, thanks.

2025-12-03 21:23:36 UTC

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Peaceful Warrior and Secret Life of Walter Mitty were both enjoyable for similar reasons. Life only ever happens in the current moment, yet we spend most of our time guilty of the past or anxious of the future.

2025-12-01 20:45:54 UTC

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I'll follow...
"Quality memes, 1-sat zaps"
@nprofile…qmsh

2025-12-01 17:55:42 UTC

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The real question is will you still be using terms like 16% CAGR top in 2033?

2025-12-01 17:11:46 UTC

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Respectfully, I disagree. He's been an incredible spokesperson for Bitcoin, but it's a new paradigm, not an asset within the fiat system.
This whole rebranding of Bitcoin as digital gold or digital capital is the threat to Bitcoin. It's a store of value yes, but his reluctance to embrace it as a medium of exchange of unit of account is telling.
I prefer not to speculate on individuals, but he will ultimately have some decisions to make. It may well be that he's the one wheeling in the Trojan horse, but this phase is accumulating massive amounts of bitcoin in centralised, corporate hands.
What do you think?

2025-12-01 13:12:05 UTC

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1-sat zaps are engagement farming for tightarses.

2025-11-20 06:45:41 UTC

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The 'take some off the table ' crowd are the worst. Most people, even the ones you think truly do, just don't get it .

2025-11-18 07:33:55 UTC

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Always appreciate your consistent and succinct messaging.
I'd recommend now as a good time to read When Money Dies by Adam Ferguson as well.

2025-11-14 06:05:30 UTC

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'orange tie dry-cleaning ' 🤣

2025-11-11 16:52:44 UTC

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My wife says that my obsession with Bitcoin has made our relationship impossible to continue with. I've suggested we give it two weeks to see if the difficulty adjusts.

2025-11-10 20:55:23 UTC

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I credit Farage with being one of the people who made me realise many of the opinions I held were not my own. Rather, they were the opinions of others that I subconsciously believed were mine.
I was probably slightly repelled by him back in 2020, but found myself watching a YouTube advert for his newsletter after going down the inflation rabbit hole. Imagine my surprise when I found his financial insights and commentary, much of which centered around gold, quite in line with my own. I read it for a while before moving on, but vowed that I would always be a practitioner rather than a theorist from then on.
A few years on and I realise that much of what I thought I knew, particularly when it came to opinions on individuals, was actually subconscious programming formed from the habits of my consumption. A few thousand pages of David Icke later and I definitely have my own viewpoints, not always right and certainly open to change, but my own nonetheless.
I don't believe the answers necessarily lie within the political sphere, but Reform and Farage have done plenty to bring debate into the mainstream. He's Diet Trump at best.

2025-11-08 07:08:01 UTC

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Try explaining that your family's financial future is largely dependent on the insights of someone called Fartface2k.

2025-11-06 17:16:02 UTC

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Really enjoying your content, thanks.

2025-11-06 09:50:48 UTC

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Maybe. Honestly, I've got more questions than answers at this stage. The two systems are fundamentally incompatible. These products use bitcoin as an asset within the current financial system, rather than recognise it as something completely new, freestanding and independent.
I appreciate @nprofile…za3a. He's one of the best orators on these topics in this space. I fully believe he's a good actor and simply creating things in response to customer demand. He's a prolific contributor and we're lucky to have him. I'd like that to be completely clear.
I just can't square the circle of using bitcoin as collateral within the debt based fiat system, when I see it as a replacement. Perhaps it's part of the bridge to get there, hence why I ask the questions.

2025-11-06 07:42:54 UTC

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Appreciate the suggestions. @nprofile…ddf9 was kind enough to speak with me in my second episode. His books are some of my absolute favourites.

2025-11-05 20:07:50 UTC

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To be fair, Daniel didn't name you or Strike specifically - I brought Strike into the conversation simply because I'm a customer of yours, and a happy one at that. I'd rather tag you and engage than post without giving you a right to reply.
For the most part, I don't think this counts as mob or cancel culture, rather bitcoiners who have valid questions who are trying to navigate a new emerging system.
My issue has been with the framing of how these products work in principle, not in theory. Newcomers ought to be very clear that bitcoin's CAGR is not a steady 50%. Bitcoin is freedom money and people can do exactly as they please with it - they should be fully informed however, and asking questions will always be a vital component of that.
A 5% price drop is hardly big news, but a true bear market like we've seen before could trigger margin calls and I don't think continuing to make people aware of this is encouraging mob behaviour.

2025-11-05 11:20:31 UTC

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Agreed. But they will know full well that many people will gamble with larger portions of their stack.
My brother works in finance and he's always seen 2008 as a result of irresponsible borrowing. But there are two sides to every coin. Predatory lending is the enabler of irresponsible borrowing.

2025-11-04 21:38:23 UTC

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We need more boxing content on here...#boxstr

2025-11-04 21:31:33 UTC

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I'm a Strike customer and have a huge amount of respect for @nprofile…8sjr , but the borrow against your bitcoin narrative has been something I've struggled to reconcile in my own mind. I've tagged Jack as a Strike user, but it could have been any number of people really.
As I understand it, Strike have partnered with financial service companies like Nydig to offer the funding for their loan products. That's Nydig led by Ross Stevens, who was interviewed by Saylor at the MSTR world conference in 2021. I reference that because Nydig clearly understand bitcoin deeply.
Amongst that understanding will be that, if measured in dollars, as an asset within the current system (which it's not), it has a CAGR of roughly 50%. It begs the question then, why would they sacrifice this return for an interest rate of 10% on capital lent out to bitcoiners? Particularly if they understand this at a fundamental level.
The play here is to amass bitcoin and it seems clear to me that they will have run the probabilities and come to the conclusion that enough people will get overstretched, under-collateralised, and ultimately margin called.
They're always 12 month terms, which is not a safe investment period given bitcoin's volatility. Jack and Mark Moss have both given examples of how these products could work, but always with a 12 month loan, whereby magically, at the end of this period, bitcoin's price will have risen 50%.
I find it totally misleading and, given that bitcoin is perfect collateral and doesn't require credit checks, people will be able to enter into these loans very easily.
I'm sure I'm getting something wrong along the way, maybe with how the funding process works behind the scenes, but I'm old enough to remember 'not your keys, not your coins'. This message seems to have been lost in the name of 'collaborative custody'.
I can't help thinking that a lot of people are going to have to eventually make a choice between defaulting on their loans or continually posting more and more of their stack as collateral.
I'd love to hear a response as to why I'm getting this wrong.

2025-10-23 14:08:01 UTC

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Stay humble, stack satchels.

2025-10-23 13:51:32 UTC

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Agreed. It's becoming increasingly clear that Saylor sees Bitcoin as something that will revolutionise the current system, whereas Jeff sees it as a replacement and fundamentally incompatible. Saylor's interviews were a key component in my initial understanding of Bitcoin, but it's hard to see how the path he's forging doesn't lead to precisely what Jeff has guarded against. It's not an asset within the credit based system, it's a new system entirely. It's not a store of value, but new money that satisfies all criteria as money, including medium or exchange and unit of account.

2025-10-23 10:46:02 UTC

@nprofile…tkhj . I hope you're well. I wondered if you'd take a moment to read the article below and give me your thoughts.
https://open.substack.com/pub/anotherbitcoinpodcast/p/jeff-booth-ruined-my-podcast?utm_source=share&utm_medium=android&r=1nivjq

2025-10-23 10:43:38 UTC

https://open.substack.com/pub/anotherbitcoinpodcast/p/jeff-booth-ruined-my-podcast?utm_source=share&utm_medium=android&r=1nivjq

2025-10-16 20:14:08 UTC

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Now do the same keeping 12 words in your head and it's absolutely mental.

2025-10-13 20:01:38 UTC

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Written by the podcasters right?

2025-10-13 08:19:02 UTC

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Just playing devil's advocate here, but do you not think that point 2 is exactly his point?
His concerns around Knots seem to be centred around Luke being the only lead maintainer. As far as I'm aware, he's certainly never recommended upgrading to version 30.
What we need is to keep all aspects of bitcoin as decentralised as possible - mining, ownership and node software.
As a prominent voice in the space, if he were to give put his full weight behind Knots it could have a large impact. Maybe it's correct that he's cautious with his opinion and guarded about what he recommends.
For what it's worth, I recommend Knots. But not to everyone. Multiple node implementations are what's required and people should have more than one choice. Not upgrading is still a vote against version 30.
To be clear though, Core version 30 has been a shit show and is an open arms gesture to spam and non-monetary transactions.

2025-10-10 20:34:15 UTC

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We went there on our honeymoon, beautiful place. You should try La Tagliata if it's still there.

2025-10-04 14:39:34 UTC

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That's an insurance write-off in my house.

2025-10-02 16:27:09 UTC

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Freudian typo?

2025-10-01 10:17:13 UTC

If there's ever a case that reminds you of the need for self-custody, it's this below. The Bitcoin wasn't seized from criminals, it was seized from legitimate owners of property who had their money stolen by criminals. The money should be returned to its rightful owners, not in a different currency, but in it's original form. I have to be careful what is say as a UK citizen, but the UK state can go fuck itself in its corrupt, inept asshole.
https://www.ft.com/content/9b01336e-fb87-4d7e-be86-69e1acb405c1