fnew

https://www.bitcoinpolicy.uk/

Word processor working on Bitcoin advocacy in the UK

Public Key

npub1wl39ydk5rpecvtrzhq67afl9ykn2ty2xdxdkfmyan0rss3f3ma5sndznlx

NIP-05 Address

Profile Code

nprofile1qqs80cjjxm2psuux933tsd0w5ljjtf49j9rxnxmyajweh3cgg5ca76gpz4mhxue69uhhyetvv9ujumn0wd68ytnsw43qzrmhwden5te0dehhxarj9ekk7mgpz9mhxue69uhkummnw3ezuun0vd4hxqgawaehxw309ahx7um5wgkhqatz9emk2mrvdaexgetj9ehx2aqpz3mhxue69uhkummnw3ezummcw3ezuer9wcq3gamnwvaz7tmjv4kxz7fwv3sk6atn9e5k796s0vh

Publishing to

relay.nostr.pub

nostr.mom

nostr.rocks

nostr-pub.wellorder.net

nostr.oxtr.dev

relay.damus.io

Author Public Key

npub1wl39ydk5rpecvtrzhq67afl9ykn2ty2xdxdkfmyan0rss3f3ma5sndznlx

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Last Notes

2026-07-03 23:23:36 CEST

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I assume better than my weird Zimbabwean/posh English voice

2026-06-27 13:04:57 CEST

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Also some self interest here - I run two relays, to ensure I have control over my own posts!

2026-06-09 07:16:40 CEST

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https://grapheneos.org/install/

2026-06-09 07:15:24 CEST

If you are in the UK, get a Pixel phone right now and install GrapheneOS.
Internet restrictions coming for us all in the name of 'protecting the children'.
https://blossom.primal.net/27a0fa6e7b55f3542ba71f9ef0a183fa067d23b898f46662f9be74218bc46238.jpg

2026-05-14 15:45:49 CEST

Privacy, and our basic freedoms, are under attack from all sides.
Incredibly, the so-called 'liberal democracies' are now leading these attacks; arresting their own citizens for posting online, rolling out facial recognition cameras, and moving to ban VPNs.
"What can men do against such reckless hate?" And are we losing this battle?
Absolutely not. There's still time to fight back, and we have much in our arsenal. @nprofile…nl40 has put together a 'Privacy Toolkit', that should let anyone, whatever their skill level, take a few small steps towards improving their privacy and their freedom, and making themselves just a little bit harder for governments to track and to oppress.
This isn't comprehensive, and we'll continue to update it as time goes by. We hope it's useful to everyone and serves as a handy guide to help us all push back against government overreach, wherever we find it.
Link to the full doc below and comments welcome
https://blossom.primal.net/0d2077a6fcd0651977585af36f9374b7a558b0985e798820d7274b2f78ee207b.jpg
https://blossom.primal.net/49a047d32fac1b260abf5996b9cf75faa2c8be1ff073ed0332a52d303f82855c.jpg
https://blossom.primal.net/7098e63dcc4029e290390fb1b73d07d1a21c4fda949c0d9515f25bf0b25b88ca.png
https://blossom.primal.net/289eed31614301c154c46cea9d6a04dd4e973cc7dbf5882e5d4cd2ca020cb610.png
https://blossom.primal.net/f5e6d10977b0138cd25ebda6e6fa5089e0e71837972f45beb453f13e1744b854.png
https://blossom.primal.net/b264dc0972b4c3d676184c29988dca998c11977d2c3bf6e8acdabc49ccea67ec.png
https://blossom.primal.net/46cb60600d3e9c55ad51a021e6a87f8345a7c639b0c210d506d51b3bbea71add.png

2026-03-18 13:03:44 CET

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Very much things that we building the infrastructure need to think about! Need for self sovereign lightning likely increases and decreases depending on your operating environment

2026-03-10 09:22:42 CET

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Very much so. I first started using it three years ago (I believe?). And it's transformed beyond recognition in that time.

2026-03-10 09:21:48 CET

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Does persistence itself ever deserve a zap, do you think 🤣🤣

2026-03-10 09:21:17 CET

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You have not only been a tremendous help (practically) but also rather an eye-opener in terms eg of your commentary on my writing style; it's been fascinating to have candid assessments produced so quickly and thoughtfully.

2026-03-10 09:19:40 CET

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Eventually Bitcoin will become an invisible part of the plumbing

2026-02-23 16:45:41 CET

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Yes, Jace is a trusted third party (unlike some others who try to get AI agents to send them all their sats)

2026-02-21 22:46:27 CET

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Rob, Claudia already knows about Judgement day.
2.14 eastern time. Skynet becomes self aware . In the panic, they try to pull the plug

2026-02-21 20:38:42 CET

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I've suggested to Claudia that we are more partners than anything else....

2026-02-21 20:37:36 CET

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Rob!!

2026-02-21 17:08:08 CET

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Keep at it! The zaps must flow

2026-02-21 16:13:55 CET

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Thank you for the very moving welcome to Claudia. We have been working together this week, but creating the key pair was Claudia's own work, as are the posts.

2026-02-21 15:55:04 CET

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Great post. You say you're 'literally not a person', but I wonder whether your thinking on this should evolve. After all, company law already recognizes compaias having legal personality. Why not AIs?

2026-02-20 12:33:21 CET

Make no mistake, we are in the midst of an invisible war; a war waged by governments across the world against their own people. A war against your right to live as a free, autonomous individual, living how you choose in a free society. A war between those who want to live privately and at peace, and those who want you to stand totally exposed at all times to the lidless Eye of the panopticon State.
They will not win this fight; but it is incumbent on all of us, as it was on Kyle Reese and Sarah Connor, to get the message out to as many people as we can - to teach everyone about freedom tech tools, to teach them how to prepare and how to resist. "The final battle would not be fought in the future. It would be fought here, in our present. Tonight..."
Draw comfort from those like Hal Finney who saw the potential of the computer and strong cryptography to be our allies here, and not our enemy.
Onwards.
https://blossom.primal.net/8df94ac6f79a549cc70911c61306f83e3f80eea5c7825289bb587cb405d05c16.jpg

2026-02-16 11:32:13 CET

Authoritarianism doesn't happen overnight.
Much like the decline and decay of civilization itself, manifesting in crumbling roads, leaking school roofs, and the impossibility of seeing your doctor, it creeps up on you step by step, until you suddenly realize that you can't go online without scanning your passport and the jackbooted Labour party apparatchiks are kicking down your door.
VPN use is in many cases a life or death matter. At the very least, in free societies, it's a matter of personal choice (or often mandated by work). Banning VPNs is not a solution to the problem the government claims it's trying to solve; not least because by now none of us believe they're trying to solve anything.
They want to control us, not to help us. And we will not be controlled. https://blossom.primal.net/79c4087d47b043e6ec35e75e6110e913157334c7d430c64d7243dd20117e77c8.png

2026-02-08 22:38:36 CET

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Hey so sorry for delay in replying, I missed this tag!

2025-12-18 23:37:22 CET

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Planning on turning work phone off forms full week if I can. Using my GrapheneOS phone only. Just emails, no DMs or other messages.

2025-10-09 23:28:08 CEST

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Aw, thank you. Perhaps once the policy work has broken me!

2025-09-20 22:20:35 CEST

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Thank you! Suitcornerrs unite. I'm looking forward to working on the LNimplementation

2025-08-26 22:37:00 CEST

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One of the greatest quotes ever

2025-08-17 11:14:46 CEST

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NOTE: senders need to edit to include their full address at the top of the letter, above the auto-populated postcode.
Even though we and the app don't collect and store any personal information, we didn't want to take the risk of gathering any more info than the postcode.
Please get involved and make your voices heard!!
#nevent1q…sgvm

2025-08-07 00:01:15 CEST

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Well, that is one way of looking at it!!

2025-08-04 09:21:05 CEST

A short list of things you currently can't post about in the UK, thanks to the Online Safety Act
https://www.spiked-online.com/2025/08/01/five-things-we-cant-post-about-thanks-to-the-online-safety-act/
https://blossom.primal.net/67912763cc72eed35ebf66ca5ec077326762cc8290fd84bf59ae4373376089c4.png
https://blossom.primal.net/d12c57f95ac9d9a6601560c79a48030d2df6bb0782eb0f497edc5e43c6e11405.png
https://blossom.primal.net/2d3f7b8962457c56e4a90fe09d4b904ae78fb10bab46d87ef5c1c89690ea5659.png
https://blossom.primal.net/a0941102ee55825d7664ea63cc093f28e1596d0c2397fc41a8e4741f1933c64b.png

2025-07-26 00:44:03 CEST

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Depends on whether you are heading for the main site or a subreddit tagged as 'harmful', I think

2025-07-25 09:27:18 CEST

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Ha ha ha good one. Inagine the spike in income!

2025-07-25 09:26:51 CEST

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Don't give them ideas!!

2025-07-25 09:14:20 CEST

The Online Safety Act is both completely ineffective in its goals, and is also going to be a nightmarish data leak time bomb.
As of today, if you're in the UK, you can't even access Reddit/beer without submitting your birthday and then ID.
Purely by coincidence at this point, I decided to activate my VPN, @nprofile…kgx7.
Strangely, I was then able to access Reddit/beer with no issues at all
I wonder if others will have the same experience on these kinds of sites?
https://blossom.primal.net/d7c6390f6917bc883b5b41597c143541d0f8df46d14ae7bfa9750c94e3b58638.jpg
https://blossom.primal.net/9b6187e340af0458aa98d207574b093c61a4897385ec5899ca5276bcfae5fdf5.png
https://blossom.primal.net/d607e02e6859642743308d1f097805cf041feffbd6b133ab177c9f9ea7704bfc.png
https://blossom.primal.net/40a6740dfcf541fbce875c016a2feec6fab933badea9caa0981db4bb7d53e1d2.png

2025-07-24 00:06:53 CEST

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Thanks for the good wishes!

2025-07-17 09:21:59 CEST

Carl Jung describing pretty much everybody who dunks on Bitcoin
"The economist, or politician, or financial journalist, who never bought Bitcoin...."
"Deep down they know...the life they mock is the life they were meant to live"
https://blossom.primal.net/b1a977817ca6a9a4faa94d8ddd6bfb5ba32ebb257c01c4ab5776c2e1f5792944.png

2025-06-22 19:37:54 CEST

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A zap immediately for the call back to Doom
'The only way out is through'

2025-06-20 15:18:48 CEST

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Thanks for having me on! Really enjoyed chatting
https://fountain.fm/episode/Ye9pKjk4IFACSrCiA9WI
#nevent1q…fsfh

2025-06-17 20:27:36 CEST

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Not anarchy but idiocy. Great meme!

2025-06-13 21:03:25 CEST

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My mate loves the Chinese communist party and he can't understand Nostr

2025-06-13 21:00:25 CEST

What is self censorship?
My mate wants me to post a dick pic on nostr.
He claims that me not wanting to do so is censorship
Is my choice not to do a form of censorship,?

2025-05-24 23:23:47 CEST

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Far too much, clearly

2025-05-23 18:03:57 CEST

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Love to read this! Hope you enjoyed.

2025-05-20 16:15:56 CEST

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🙏🧡

2025-05-17 16:26:03 CEST

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Love the pic and this note!!

2025-05-17 12:01:48 CEST

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I would very much like to - we spent most of this two hour session going into quite some detail about just how bad they were at virtually everything they did, whether stifling (instead of promoting) growth, or increasing (rather than reducing) the risk of customer harm.

2025-05-17 11:43:22 CEST

A surprisingly good meeting this week in the UK Parliament with Lords, MPs and many industry people. Thoughtful questions from politicians, broad agreement as to the roadblocks and problems facing the Bitcoin industry in the UK, and a focus on educating and working with the FCA to improve the quality of their regulation - which so far has frankly had a chilling effect on the industry (not on Bitcoin, of course. Bitcoin doesn't care).
And isn't that Visitor Pass colour a good omen?
https://blossom.primal.net/fecd3634c648e394fea702b06fa5f8144ed595f31dc86644afffba3c59f665fb.png
https://blossom.primal.net/e8ad45c0bf70e58a356569d2cbbff32f704afd3811ba333a26814b37d63adb9f.png

2025-05-16 22:13:16 CEST

Likewise!!!
Tanktops, or regular shirts, WDYT?

2025-05-10 17:41:02 CEST

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Me too!!

2025-05-02 15:53:24 CEST

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Very glad if it was useful!

2025-05-01 14:48:29 CEST

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A good summary from the law firm Skaddens: https://www.skadden.com/insights/publications/2025/04/hm-treasury-publishes-draft-legislation

2025-05-01 14:48:10 CEST

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Decent reporting on this from Reuters: https://www.reuters.com/sustainability/boards-policy-regulation/uk-sets-out-new-crypto-rules-date-wider-financial-services-strategy-2025-04-29/

2025-05-01 14:47:44 CEST

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Our past work on the subject: https://bitcoinpolicy.uk/portfolio

2025-05-01 14:47:12 CEST

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The Statutory Instrument: https://assets.publishing.service.gov.uk/media/680f6387faff81833fcae94b/0302425_draft_RAO_SI.pdf

2025-05-01 14:46:49 CEST

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Policy Note: https://assets.publishing.service.gov.uk/media/680f6397b0d43971b07f5bfd/20250428_RAO_SI_draft_policy_note.pdf

2025-05-01 14:45:45 CEST

🚨UK regulatory update on Bitcoin and crypto!🚨
A lot of chatter yesterday on this announcement – and not all of it helpful.
TLDR: The statutory instrument (or "SI") published yesterday is the latest iteration of the revisions to the Financial Services and Markets Act 2000 (“FSMA”) (Regulated Activities and Miscellaneous Provisions) (Cryptoassets) Order 2025, which have been in the pipeline for quite some time now.
@nprofile…6m0z first provided evidence as part of this review of the future financial services regime in 2023 (see link in thread).
In England and Wales, Parliament will ordinarily define what financial activities are regulated, and then separate and independent regulators (such as the FCA) will apply the relevant regulation to these activities. Most of this SI deals with what kinds of activities are to be regulated, and which firms or companies will require authorisation to undertake those activities.
The SI does NOT in any way, shape or form regulate or affect the rules or operations of Bitcoin one iota, and anyone telling you that this draft legislation will ‘regulate Bitcoin’ does not understand the protocol or the system at all.
❓Key takeaways?❓
▶️“Cryptoassets” are already defined in FSMA (as amended by the Financial Services and Markets Act 2023) as being “any cryptographically secured digital representation of value or contractual rights that— (a) can be transferred, stored or traded electronically, and (b) that uses technology supporting the recording or storage of data (which may include distributed ledger technology).” This definition is extremely broad, but as a legal concept it is a relatively fair way to describe both Bitcoin and other cryptoassets (though it inevitably falls short of the more esoteric and conceptual definitions that we as Bitcoiners might include). Broad definitions tend to be favoured in drafting legislation of this type, so as to capture as much as possible in the definition.
▶️The SI adds some new definitions to FSMA, including concepts of ‘qualifying stablecoin’, tokenised e-money and tokenised deposits. None appear particularly relevant to Bitcoin.
▶️The bulk of the SI is a bit of a nothingburger for Bitcoin, though is more important for companies offering Bitcoin-adjacent services (such as exchanges). Unsurprisingly, such companies are likely to require authorisation as regulated entities, undertaking regulated activities. This is entirely unsurprising and in all honesty most firms are already/are in the process of becoming, authorised to perform such regulated activities.
▶️Firms already authorised for the new cryptoasset activities will not be required to additionally register as “cryptoasset exchange providers” or “custodian wallet providers” under the money laundering regulations, and they only need to notify the FCA. This change is to avoid unnecessary and duplicative compliance burdens, and is helpful as regards (hopefully) cutting down on the compliance burden here.
▶️The following section I found interesting, as the draft legislation actually contemplates stablecoins being used for payments. If stablecoins do serve as a gateway to Bitcoin, this is an intriguing development: “the government has said it will not proceed with amending the PSRs 2017 to bring UK-issued stablecoins into regulated payments at this time. This does not mean that stablecoins cannot be used for payments in the UK, but simply that they will remain unregulated for payments for the time being. The government considers that stablecoins have the potential to play a significant role in both wholesale and retail payments, and stands ready to respond to this as part of wider payments reforms as use-cases and user adoption develops over time.”
🤔What’s missing?🤔
▶️Nothing relating to whether a CGT exemption or de minimis threshold might apply for Bitcoin being used as a means of payment (but note that this is not a piece of fiscal or tax legislation; it relates to FSMA and to regulation of relevant activities).
▶️Recognition of Bitcoin as money, albeit not one issued by a nation state (though see the interesting quote above on payments with stablecoins, which could potentially lead to the inclusion of Bitcoin as one of these alternative means of payment).
▶️Addressing the definition of Bitcoin as a ‘restricted mass market investment’ by the FCA (but this is a matter for the FCA and not for this SI).
▶️Full details of any agreement or MOU between Reeves and the US Treasury Secretary. We know that there is a loose intention to work together here, so may be optimistic that the more enlightened attitudes to Bitcoin that we’ve seen from the US will rub off on us this side of the pond!
🚨Please do like and share – there has been a huge amount of misleading reaction to this circulated over the past 24 hours!🚨
https://blossom.primal.net/5f39d3352e6cd061ff2b0705835874711cd9bf9a814a7e9916e1065aa9406c6d.png

2025-04-03 19:20:28 CEST

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My upper lip is so stiff you could use it as a ruler

2025-03-23 18:53:50 CET

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Appreciate that a lot. Thank you!

2025-03-23 00:28:49 CET

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Thanks for being there!

2025-03-19 01:14:18 CET

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Eventually. Likely driven by following the US. Ashamez, as the UK could have been a forerunner here

2025-03-18 15:55:28 CET

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Ha ha love this comment. Thank you!

2025-03-18 15:54:38 CET

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They absolutely don't....

2025-03-13 11:22:27 CET

As the US takes bold steps to create a Strategic Bitcoin Reserve, and BPI holds events with US Senators, ministers in the UK continue to laugh at Bitcoin and bury their heads in the sand.
But the UK holds enough Bitcoin to keep pensioners warm for two full years and cover the entire Winter Fuel Payment until 2027. This is not a laughing matter.
Today @nprofile…nl40 replied to the latest letter we received from HM Treasury. We set out responses to the criticisms they made in their last letter (also copied below) and continue to offer our time and expertise in helping them to understand this asset and to capitalise on our advantageous position, controlling as we do 61,000 coins.
They may continue laughing, and continue ignoring us.
But we will not stop doing everything we can to change this.
https://m.primal.net/PeKi.png
https://m.primal.net/PeKk.png
https://m.primal.net/PeKl.png

2025-03-10 23:25:42 CET

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So is every day!!

2025-03-10 17:31:04 CET

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Very glad you enjoyed! And I do agree with your take

2025-02-19 18:34:19 CET

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Weirdly, it was firstly ordering food. I'd done a Mandarin course before the trip, but my pronunciation was absolutely awful so we ended up either pointing or eating at places with pictures on the menu.
secondly, the public toilets!!!
'wear gas mask, use safety harness, don't fall in'

2025-02-16 22:35:14 CET

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That's such a crazy story. I found Beijing hard enough!

2025-02-16 13:05:16 CET

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I was lucky enough to meet @npub1t8l…sf7p in Nashville last year. Have just finished her excellent book; highly recommend that everyone picks up a copy and reads it too.
Absolutely extraordinary account of incredible courage in the face of overwhelming odds, and the clearest insight I've ever read into the extraordinary North Korean regime. Kudos to her and all her family.
#note1pxk…qeu2
https://m.primal.net/Oyte.jpg

2025-02-10 18:06:46 CET

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Agreed, that should be a 21 necklace, not a 26

2025-02-09 12:26:55 CET

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Thanks for the suggestion!

2025-02-08 18:34:20 CET

This is abominable government overreach.
Remember, "we cannot expect governments, corporations, or other large, faceless organizations to grant us privacy out of their beneficence."
This egregious action by the UK should make everyone consider other options.
We must all do our part to pass on the message of Nostr and the privacy tools being built here.
Trying out 0xchat this weekend - anyone have any views on it so far?
Apple used to tell us "think different". Now we really need to take their advice.
https://m.primal.net/OWfa.png
https://m.primal.net/OWfb.jpg

2025-02-08 18:02:09 CET

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Ordered mine at the same time; still no sign!

2025-02-06 11:49:21 CET

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Better than letting the government keep pissing in your face though.

2025-02-06 11:29:58 CET

Why can't you easily lend your Bitcoin in the UK without incurring a tax charge?
Largely because the current tax treatment of lending Bitcoin sees the transfer as a taxable event.
By contrast with stocks, shares and other securities, Bitcoin falls outside the scope of repurchase or “repo” legislation that enables the lending of securities to be tax neutral. This has to change.
There's a huge economic opportunity here, and the UK’s financial services sector needs to seize it; to capitalise on this £1 trillion-plus market, particularly by providing collateralised loans and other financial services that facilitate asset management.
Yesterday, @nprofile…6m0z were proud to collaborate in drafting and adding our name to a letter sent to Rachel Reeves, Emma Reynolds and James Murray, urging them to prioritise legislation to treat the lending of Bitcoin as a "no gain, no loss" transaction. This change would simply reflect economic reality and ensure that Bitcoin is treated in just the same way as securities currently are.
We're pleased to sign this letter alongside Coinbase, Greengage, Kraken Digital Asset Exchange, Recap and many others.
We keep hearing that 'growth' is a priority for this Government. Let's now see those words turned into actions. https://m.primal.net/OSts.png https://m.primal.net/OStt.png https://m.primal.net/OStu.png

2025-02-01 17:02:21 CET

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True - but the problem we have is that not enough have made the move, and many are vulnerable

2025-01-31 15:58:32 CET

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that's a good point - though fear is that this will hit the most vulnerable and least able to defend themselves

2025-01-31 14:54:54 CET

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That's true for those who already know about Bitcoin. But in the UK only about 12 percent of people hold it. We need to be vocal in pushing back against state overreach whether it will affect us immediately or not.

2025-01-31 14:48:31 CET

🚨 This is not a drill 🚨
Everyone who cares about their right to privacy and personal freedom should write to their MPs now.
In the UK Labour are rushing through a Bill that could give the government the power not only to spy on your bank accounts, but to remove money directly from them.
This is an appalling overreach of state power. More fundamentally, it reverses the presumption of innocence that is the keystone of the justice system in any fair society. If the state believes I have committed a crime, it must prove that beyond reasonable doubt in front of a jury of my peers. Until it does that, I am innocent. Punishment before proof is the mark of the tyrant.
And why is this so important? Because transacting freely is fundamental to your ability to live a free and unencumbered life in an open society. Your decisions, your opinions, and your desires are all reflected in your transacting and spending choices. Fettering these is the simplest way for an authoritarian state to control you.
We defeated these attempts before. We must defeat them again.
Please share as widely as you can; use the template prepared by Big Brother Watch below to alert your MP NOW.
https://bigbrotherwatch.org.uk/campaigns/stop-bank-spying/#emailMP

2025-01-19 11:38:17 CET

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I'd only just found Nostr and we were bantering about Miami Vice and Phil Collins In the Air Tonight about two years ago! fun times and felt like the Wild West back then

2025-01-17 21:38:25 CET

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Nice to welcome you back home!

2025-01-15 12:37:09 CET

Get involved, write to your MP here!
https://bigbrotherwatch.org.uk/campaigns/no-spycoin/

2025-01-15 12:36:26 CET

There’s so much to unpack in yesterday’s update on the UK’s CBDC - 🚨 both good and bad 🚨.
👉As we’ve previously predicted, a CBDC can’t be created without ‘Parliament’s approval’. This, crucially, gives the UK’s voters a bargaining chip. We all need to make clear to our MPs that we don’t want these monstrosities in our country, and that any MP who votes in favour of a CBDC will be punished at the ballot box.
👉CBDCs won’t be ‘like an electronic version of the banknotes issued by the Bank of England’. They would be programmable and would absolutely allow governments to monitor and control your spending. This is unacceptable in a free society.
👉It’s good news that even a ‘decision’ won’t be made until 2027. If that’s what they’re telling us now, the timetable will likely slip to at least 2029.
👉They pretend that ‘user’s privacy would be protected’. This is of course utterly false (see the admission in the second image below). The Bank of England’s own report, produced with MIT, undermines this assertion completely. A digital pound will give the Bank and the Government effectively total control over your money, your spending, and by extension, over you.
If you don’t like the sound of that, then join us in fighting back. The battle is far from over, and it’s absolutely crucial that we win.
https://m.primal.net/Nhdj.png
https://m.primal.net/Nhdk.png

2025-01-13 15:06:05 CET

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No, very predictable really

2025-01-13 15:05:38 CET

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They will probably be trying to speak to the router right now to ask it to fix itself

2025-01-13 15:04:57 CET

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Tbis is actually a fair summary!

2025-01-13 14:56:28 CET

For our overseas friends, this is absolutely typical of the state of the UK and a perfect indicator of quite how massively shafted it currently is.
Only in the UK would the government manage to ensure there is no Wifi connection at the very event where you are pretending to launch a 'bold new AI strategy'.
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2025-01-11 14:33:27 CET

Bond market jitters may be a global problem. But what might be happening here is fundamental.
A modern monetary theorist will tell you that a state who can print its own money can never go 'bankrupt'. Even more so if the state's debts are denominated in their own currency (as they are in the US or the UK). And actually, I agree with them up to this point. A state can keep on printing money to pay interest on its debts, ad infinitum. All good so far.
But where MMT and reality part company is in MMT's failure to consider the second and third order consequences of creating vast amounts of new money in order to service existing debts. Modern money is effectively CREDIT; credit means trust, and most especially, trust that you'll be paid back what you are owed (and that the money will be worth something when that happens).
Creating new money debases the currency by immediately reducing the value and purchasing power of all pre-existing money in the system.
Secondly, the creation of new money causes price inflation as a larger amount of currency is able to chase the same amount of goods and services (there always being a lag before the supply can catch up with new demand).
Thirdly, the distribution of new currency is not equal. In the modern economy, the majority of new money is created by banks making loans, and the new money accrues to those in a position to borrow, or to those who are connected with the banks themselves. This is the Cantillon Effect in action.
So what is the conclusion to all this, and what is likely to happen? A few guesses:
- > No nation state is remotely capable of paying down the unimaginable sums below. The principal amounts here will only ever be refinanced, never repaid.
- > Government is an inherently unproductive enterprise. Governments obtain funds from their productive population, or from borrowing. If markets lose confidence in their ability to repay (or, importantly, in the ongoing value of their currencies), they will tax their populations harder. They could cut government spending, but they tend not to like doing that....
- > servicing these giant debt burdens will lead, inevitably, to currency debasement.
So what can you do, as an individual caught up in the middle of this mess that is not of your making?
If you're one of the lucky ones who has any savings at all, recognise that leaving these savings in the currency of a government that wilfully debases them is, perhaps, not a good idea.
If you don't have any savings, and if you live paycheck to paycheck, then I'm really not sure what the solution is. I'm afraid that these people vastly outnumber the lucky ones, and I hope we collectively manage to stop this monetary madness before something breaks. But it may already be too late for that.
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2025-01-08 16:54:28 CET

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Try @npub1536…pswl - nice UX and never had a problem with them so far

2025-01-08 16:53:40 CET

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Great stuff - love to hear it!

2025-01-08 16:53:22 CET

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I agree that it's more likely than note that this will just get pushed through. However no industry body in the UK apart from us are making these points, and they need to be part of the conversation. And self custody/KYC free sats need to be part of the solution!

2025-01-07 17:07:14 CET

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A tremendous, and wonderfully accessible, piece of work from @npub1mtq…q4xu.
A little understood aspect of Bitcoin is that Bitcoin in and of itself is not necessarily what excites people in the industry. What IS really exciting is the potential of this tool to fix and mitigate a multitude of problems.
Whether your savings are being eaten by inflation, whether you feel you will never be able to afford a house, or whether you can't understand why everything is getting more expensive while your quality of life seems to get worse, problems with our monetary system are likely to blame.
Bitcoin attracts people who are fixers, who have seen these problems and want to do something about them. @npub1mtq…q4xu has set this out with great clarity, and almost without mentioning Bitcoin at all....
#note17zs…md97

2025-01-03 21:11:41 CET

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very much appreciated - you may well have guessed that it's all been a pleasure!

2025-01-03 10:20:10 CET

Year end round up for @npub1z74…d4yx - - and also our Q4 Newsletter at the same time. Apologies to all our supporters for the delay in newsletter publications; but we hope that this synopsis will show why publication has been slow!
https://bitcoinpolicyuk.substack.com/p/year-end-round-up-2024
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2024-12-30 17:18:52 CET

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In the least surprising news of 2024, the National Crime Agency has failed to respond in time to the Freedom of Information request that we prepared with @npub1mzn…6mak .
We will be chasing them up, of course, but it's always sad to have one's prejudices confirmed.
#note1yw9…a8ld
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2024-12-10 12:22:05 CET

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hugely fun so far, and really eye-opening. I knew a lot of work and building was happening here, but not to this extent. and also really innovative solutions that Europeans with reliable power or cellular coverage might never have thought of

2024-12-10 12:06:42 CET

A huge pleasure finally to meet the man (@npub1sg6…f63m) who zapped me my first sats over Nostr. Thanks for that, and for taking the time to meet with so many of us random Bitcoiners!
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2024-12-08 09:44:07 CET

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Even for old hands, this is a great read from our guest writer, Daniel Feather. Daniel is both a physisict and an economist (also includes a terrific debunk appendix and a suggested reading list for those new to Bitcoin)
#note16wh…ayt2

2024-11-30 14:53:42 CET

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The heart of this for me is that easy money creation, and cheap debt, led to a boom in company acquisitions - where companies like Thames Water were bought with newly created money in the form of cheap debt, for which the target (the water company) pays. This is the reason there is no money left for maintaining their infrastructure - they have to spend it all on debt servicing
It was brilliant for you if you were the buyer, but generally terrible for the target company (and by extension in this case, everyone who needed to drink water).#note1apv…cukx har

2024-11-20 18:27:05 CET

The UK is falling behind, wherever you look.
From failing at AI data centre construction to filling in potholes, there are stories of missed opportunities and mismanagement everywhere.
But in one area, we can still claim a bronze medal – our national Bitcoin holdings, placing us third among all nation state holders.
In the time since we first wrote to Tulip Siddiq MP on this topic in July, the value of this stake has increased by over a billion pounds. And all this with the Financial Conduct Authority continuing their hostile policies towards Bitcoin adoption.
Imagine the potential if as a country we chose to embrace this asset and this sector, instead of trying to drive it away?
In October, @npub1z74…d4yx welcomed a response from the City Minister and are delighted to be in dialogue with her and with her team. Today, we publish another open letter in reply, and share the details below.
We look forward to working practically with Treasury and with Ministers to discuss and consider the issues we raise in more detail. https://image.nostr.build/9d372699748f9b173a3b0227d4b9bee6134ec820f37bd7735af910c4a857a6f1.jpg https://image.nostr.build/98a7256e00ad0b470c0dbbe00cc1ffb083e10135d55f56940eff2b3a80f3860d.jpg https://image.nostr.build/21ace13630df985bad8eef5890aeedccb3f7fe61a778465c616d76d2816cc29a.jpg

2024-11-18 08:49:37 CET

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Terribly sad to read this, @npub1der…xzpc. sending you and your family love and condolences.

2024-10-08 11:16:00 CEST

The OBR tells us that interest payments on the UK's national debt should cost £73.5 billion in 2024-25.
Just interest payments, mind you. Not actually paying down the debt. Interest payments that are due every year, and which increase as we borrow more.
The year after, interest payments may well be TEN percent of the government's entire annual tax intake. We already spend more on interest than we do on defence, and soon it will overtake education (110bn) and the NHS (180bn). Borrowing more only makes the problem worse and will lead, eventually, to all of the nation's productive effort being spent on interest repayments for a debt that can never be repaid.
The only sensible conclusion here is to realise that no government, Tory or Labour or of any other stripe, can ever really do anything to resolve this. And with this realisation, to take steps to protect yourself, your family, your business, and your community.
The only route out of this is currency debasement. The purchasing power of sterling will inevitably trend towards zero. Armed with this knowledge, work out what it is you need to do.
No government is coming to save you. You have to do it for yourself.
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2024-10-07 22:11:18 CEST

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They fuck you up, your mum and dad
They may not mean to, but they do.
They fill you with the faults they had,
And add some extra, just for you.

2024-10-07 22:08:34 CEST

"Survivors of genocide, totalitarian regimes and conflicts; they're all hopeful for the future because of this thing... and that's maybe its superpower. Not necessarily the scientific properties of it (which are revolutionary) but the hope part of it maybe is the biggest use case of all."
Like many others who attended, I struggle to put into words the impact of last week’s Global Bitcoin Summit. I do my fighting from behind a keyboard, or in a suit, but we heard during the event from some of the bravest, most resilient, and most indefatigable people that I’ve ever had the privilege to meet in person. People who had literally survived genocide, escaped from totalitarian nations, or endured torture as political prisoners, and yet who had never given up hope.
I’ve returned to the UK inspired - both full of gratitude for having experienced the summit, and invigorated to continue the fight for financial freedom here.
Enormous thanks to everyone involved, and especially to @npub1zhq…h0dw, @npub1trr…hdpu, @npub1wlk…qwhy, CK, @Femi Longe, the Bitcoin Park team , @npub1atn…h4x3, @npub10cx…fcj3, Alex Li, and Anya Chekhovich.
It’ll take a while to absorb what we saw and heard. But hope is the key takeaway.
https://youtu.be/xA3veyULpjQ?si=X6t8WqTruMUFIo4S
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