chadlupkes
Chad Lupkes

Wealth based systems are the future. #Bitcoin is the foundation for wealth based financial capital. Critical thinking is required. Bitcoin class of 2017.

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npub1murdy8k20svu38g9f9jt9k0rqkjzt677x3qrev88je4gw2erqk8scwcnel

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nprofile1qqsd7pkjrm98cxwgn5z5je9jm83stfp9a00rgspukrnev6589v3strcpz3mhxue69uhhyetvv9ujuerpd46hxtnfduqs6amnwvaz7tmwdaejumr0dsscvg83

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npub1murdy8k20svu38g9f9jt9k0rqkjzt677x3qrev88je4gw2erqk8scwcnel

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Last Notes

2026-03-10 23:37:36 UTC

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What follows is meant to extend Kutukwa's diagnosis, not replace it. He identifies the symptoms with precision. What the framework below adds is a geometric explanation for why those symptoms are structurally inevitable, and what the architecture of a real alternative actually requires.
---
Kutukwa describes the BlackRock gate as a betrayal. It isn't. It is the system working correctly. That distinction matters enormously, because betrayal implies a deviation from intent, and what happened in March 2026 was not a deviation. It was a disclosure.
To understand why, we need a concept that doesn't appear in financial prospectuses but governs everything inside them: commitment density. Every act of borrowing against a future that hasn't arrived yet is a coordination cost deferred. That cost doesn't disappear. It moves forward in time, accumulates interest in the form of systemic fragility, and waits. When enough deferred costs arrive simultaneously, the system does exactly what BlackRock's board did: it asserts the priority of those at the top of the capital stack and manages the exit queue to protect that priority. The gate is not a malfunction. It is the system's immune response, protecting its own structural integrity at the expense of the people at the bottom of the claim chain.
The "claim on a claim on a claim" description Kutukwa offers is precise. What it describes geometrically is a system that has substituted velocity for stock. In any coordination system, whether financial, ecological, or social, durable capacity is built from two things working together: stock, meaning verified present resources, and velocity, meaning the rate at which that stock is activated to produce real output. The healthy relationship runs in one direction: stock enables velocity, velocity produces work, work expands stock. The system compounds because each cycle pays its own costs.
Debt-based coordination reverses the arrow. It generates velocity first, by issuing claims against future stock that doesn't exist yet, and assumes the stock will arrive later to justify the claims. This can work in the short term. It fails structurally when the gap between promised futures and present capacity grows wide enough that no realistic amount of future output can close it. At that point, what looks like a financial product is actually a queue management system for who bears the loss.
This is not a moral argument. It is a geometric one. Systems that pay coordination costs early compound. Systems that defer them accelerate toward collapse. The schedule of deferral varies. The destination doesn't.
---
Kutukwa's proposed alternative, Bitcoin and self-custody, is architecturally correct in the narrow sense. A UTXO cannot be rehypothecated. Your access to a private key cannot be gated by a board. These are real and important properties. But the claim that such a system requires "no trust at all" undershoots, and the undershoot matters.
Every coordination system requires trust of some kind. The genuine innovation in Bitcoin isn't the elimination of trust. It's the relocation of trust: away from institutional discretion and toward protocol-enforced provenance. Instead of trusting BlackRock's board to honor your redemption request, you trust that SHA-256 will keep working the way mathematics says it works. Instead of trusting a custodian's solvency, you trust that the network's consensus rules will remain what they were when you entered the system.
That is a profound architectural difference. It is not, however, trustlessness. The protocol itself requires community validation to remain what it is. A 51% attack is a trust failure at the protocol layer. A fork is a trust negotiation among participants. What proof-of-work accomplishes is grounding the trust relationship in physics and mathematics rather than in institutional incentives. That's not zero trust. It's trust built from below rather than granted from above.
This distinction matters practically, because it shapes how we think about the positive architecture Kutukwa gestures toward but doesn't fully describe. The goal isn't a world with no coordination institutions. Institutions that emerge from verified present capital, whose authority is bounded by provenance rather than granted by regulatory capture, can and do function. The goal is a coordination architecture in which authority derives from demonstrated capacity, costs are paid where they're incurred, and failures remain local and informative rather than cascading and catastrophic.
---
The inflation argument Kutukwa makes, that monetary policy manufactures the demand for yield-chasing and therefore for the entire apparatus of fees, gates, and compliance moats, is correct. But it needs one additional layer to be complete.
The inflationary pressure isn't accidental. It is the signature of a monetary system that requires debt for money creation. When money itself is issued as a liability against future output, the entire economy is structurally obligated to grow faster than the interest compounds, in perpetuity, or the system contracts. This is not a policy failure. It is the designed operating condition. Inflation isn't a side effect of bad central banking. It is the scheduled cost of a monetary architecture that would collapse without it.
This means that Bitcoin's most important property isn't censorship resistance, though that matters. It's the fixed stock. A monetary system with a supply ceiling doesn't require you to outrun inflation to preserve what you've already built. It allows saving to function as saving again, rather than as a guaranteed slow loss that compels you into yield-seeking behavior and, eventually, into the hands of funds with gated quarterly redemption windows.
The nurse and the teacher that Kutukwa describes aren't trapped because they made bad investment choices. They're trapped because the monetary architecture they were born into converts their stored labor into a depreciating liability the moment they stop chasing returns. That's not financial illiteracy. That's the designed output of a system whose incentives require their continued participation.
---
The door Kutukwa describes at the end, one that opens when you push it rather than at the board's discretion, is real. The architecture for it exists. But walking through it requires understanding what was actually wrong with the building, not just that it caught fire.
What was wrong is geometric: the building was constructed on deferred costs, with claim structures layered so densely that the people at the bottom were always going to be last in the exit queue when the costs finally came due. The alternative isn't a better building managed by more trustworthy people. It's a different construction method, one that builds from verified present foundations, pays coordination costs as they're incurred, and doesn't require you to trust a board of trustees with access to your own capital.
That method exists. Its earliest operational expression is a monetary system anchored in proof of present work. Its broader application spans every domain where coordination currently depends on institutionalized deferral: lending, governance, infrastructure, ecological stewardship. The geometry is the same in each case. Build from what is real now. Pay costs where they arise. Let failures be local. Let the system compound from strength rather than accelerate toward collapse.
The gate closed in March 2026. The door Satoshi built opened in January 2009. The difference between them is not which institution you trust. It is whether the architecture requires you to trust an institution at all.

2026-03-10 21:02:23 UTC

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I don't have the coding skills that I need, but I have the basic design of a protocol and application stack that could apply the same verification security made possible on the Bitcoin network to digital information.

2026-03-08 22:41:49 UTC

I just finished an update to my IPFS Sats repository.
IPFS-Sats v0.4 — White Paper Released
Content on the internet disappears. Creators don't get paid. Platforms control everything.
IPFS-Sats fixes this with three primitives working together:
SatSwap — pay sats, get content. Atomic. Trustless. No middleman.
Lightning Yield Wallet — your content funds its own persistence through Bitcoin yield. Deposit once, earn forever.
Per-Content DAO — you govern your work. Fork rights are unconditional. Rights are verified on Bitcoin.
No protocol fees. No token. No company. Released as a public good — the same way Satoshi released Bitcoin.
White paper + specs: https://github.com/chadlupkes/IPFS-Sats

2026-03-08 22:37:25 UTC

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Has anyone seen any shred of evidence that this was an unintended mistake? I have not.

2026-03-04 01:30:40 UTC

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It's not really a task thing, but then I don't have the capital and time to be able to explore what Calle is talking about. I'm working on the design spec for an entire application stack. It's far beyond vibe coding. 😉

2026-03-03 22:16:48 UTC

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If I had the skills to do that, I would have.

2026-03-03 20:29:41 UTC

Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. This world in arms is not spending money alone. It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children.
Dwight D. Eisenhower - Chance for Peace, 1953

2026-02-28 16:40:56 UTC

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Ok, and what were the answers given by gemini and deepseek? And why?

2026-02-28 00:16:27 UTC

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It does, and we could have gone down that road in the US if Truman had been allowed to push his national health insurance initiative back in the late 1940's. The Republican Congress wouldn't do it, so he added it to the Marshall Plan that was used to rebuild Europe, and it's part of the foundation of European health care. Canada began that path in 1947 in Saskatchewan, and the rest is history. We don't have that history in the US, we have our own path.

2026-02-27 20:25:13 UTC

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Waste, fraud and abuse are usually fractions compared to the need, but I agree that it is certainly the first legit target.

2026-02-27 19:38:16 UTC

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Let's not make the mistake of believing that any of these people have any clue whatsoever about what they are talking about. That said...
The question that you are asking is NOT ALLOWED TO BE ASKED within the circles that the people who support these platform planks hang out in. I know this for a fact, because I used to be in those circles.
The real answer to the question requires that we ignore all of the rhetoric in this pamphlet and look at the situation as it is. There is no path to just nationalizing insurance companies. It would not be allowed, and it would not work. Right now the only path forward in the direction that this candidate for elected office is ranting about is by offering a public option as an alternative to the private health insurance companies, and then ensuring that this public health insurance company provides the services that the private companies are currently offering. Good luck with that. It is possible to do, but not a viable business plan. Honestly at this point in time, doing this within a single State would just collapse the financial singularity and nobody would know what happened until diagnostics were done after the collapse.
Fundamentally, this cannot be done at the state level, because a state doesn't control their currency and the current medium of exchange in the US is another singularity extracting value from every transaction and expanding so fast and so far that there is no turning back. We know this, we're bitcoiners. Anything and everything built on that foundation is on the way to collapse, no matter how bright the red ink that is used in voter propaganda.
If and when any politician or candidate for office wants to get a clue about how to do something like this in the real world, they'll be asking that question here on Nostr. Not door to door with paid volunteers.

2026-02-27 16:08:13 UTC

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GM! When you rise, don't hold back.
https://blossom.primal.net/c3404e78052d4791a499267107db93e12b4d7e17002fef7c2ab7ef62c0549eda.png

2026-02-24 21:52:34 UTC

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I 100% agree with the idea that nobody should ever use the Bitcoin blockchain for anything other than financial transactions. There is plenty of space given the 100 bytes of the Coinbase and 83 bytes of the OP_RETURN to reference anything that anyone wants to do off chain.
That said, I also have a problem with the idea that anyone can come along and change that 'should' into a 'thou shalt' or 'thou shalt not'. Just because I believe something doesn't mean that I have the authority to demand and enforce anyone else to believe the same thing. People coming along claiming that they have that authority are usually people that I don't want to deal with very much. The entire concept of Bitcoin is built with the voluntary nature of the system at the forefront. Being able to do something is paramount, being denied the ability to do something is not.
Bitcoin provides the natural economic incentive layer that makes it the best way to conduct financial transactions in exchange for goods and services in the spatial world, or content in the metaverse. Those who can see the advantages are using it, those who cannot yet see it are not using it. What we need is an economic incentive layer for using Bitcoin transactions as a time stamp on the immutable blockchain, referencing content off chain. If that incentive is strong enough, all of the other options fall away as the opportunity cost reveals itself.
Financial transactions on an immutable provenance record is the first corner of the foundation of a wealth based civilization. But it's only one corner. Let's build the rest.

2026-02-24 21:15:03 UTC

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Would love to get your review of a way to potentially expand that beyond Nostr, if you have time.

2026-02-23 01:41:27 UTC

Nostr might find this interesting. https://blossom.primal.net/ffafd66f97364b2304afa65431feb5029bdbc4fa53fe5817b9871f190d5c92e6.png
I have the full Analysis here: https://docs.google.com/document/d/1IFmeV5Q0ToeE75qw4HSFdk69WrYVRSY3HxX2ui6a18g/edit?usp=sharing

2026-02-20 23:15:21 UTC

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The problem has been two fold. First, we were not made aware of these aspects of our history. Second, we have been taught that this is the only system possible. That there was no way to enable value transfer without middle men being the financial gatekeepers, that there was no way to verify information without licensed journalists being the gatekeepers, that there was no way to iterate experiments without permission and gatekeepers making sure we were safe, that the only way to trust each other was to believe what we have been told and to not ask the wrong questions.
This has been proven to be a lie, and every effort is being made to hide this from people. We're not pretending this isn't happening, we're just not yet loud enough to rise above their bread and circus distractions.
Get louder.
This is what I describe as field capture propagating across pillars. When the Capital pillar captures the Information pillar, the first thing that gets suppressed is the knowledge that alternative capital systems are possible. When the Information pillar captures the Innovation pillar, the first thing that gets suppressed is the ability to experiment with alternatives. When all three capture the Trust pillar, the boundary between legitimate authority and manufactured consent dissolves. People do not obey because they believe. They obey because they cannot conceive of anything else to do.
The four captures you list, monetary creation, foreign policy, military deployment, and media integrity, map almost perfectly onto the four pillars of a Living Civilization (Capital, Information, Innovation, Trust). The Federal Reserve is Capital capture. Media compromise since the 1950s is Information capture. Corporate enforcement through military is the Economic field colonizing the Jurisdictional field. Lobbying capture of foreign policy is Tribal capture of Jurisdictional authority. You are describing field merger without the geometric vocabulary.
Let me adds what you are missing: the proof of falseness. It has been demonstrated, not theorized, that peer verification is possible without licensed intermediaries, that value can transfer without financial gatekeepers, that information can be verified without credentialed journalists. The argument from necessity collapsed the moment Bitcoin produced a block and the moment a Nostr note reached someone without a platform's permission.
Get louder. But louder with precision, because noise without framework gets absorbed. The bread and circus distraction works not because people are stupid but because the alternative is invisible. Our job is to make it visible. That is the torch.

2026-02-20 22:36:26 UTC

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"Normal" is now impossible. clicking buy on an app caused me to start asking questions. it made me search for answers. Those answers gave me more questions, and the loop continued until I looked up and realized that 'normal' meant allowing the extraction of the debt based systems to cause the extinction of humanity and all life on Earth. We can't afford normal anymore. We need people to understand what is happening before it is too late.

2026-02-20 00:53:25 UTC

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Well said! Here's how that translates in the framework that I'm building.
The intermediary is a geometric pathology.
Every layer inserted between two nodes changes the structure of the network. The peer bond between the person who creates and the person who needs weakens as both bonds to the intermediary strengthen. The central bank, the licensing board, the platform, the regulator: each one is a hub that converts what was once a direct edge into two mediated connections. And every hub in that position extracts rent from every transaction that passes through it. This is not corruption. It is the predictable physics of hub-dependent topology.
Peer-to-peer exchange is not primitive. It is the atomic unit of the Metaverse. Two forms recognize each other, exchange intent, negotiate terms, and produce output: a completed transfer and a strengthened bond. That bond carries information about both parties directly, without distortion. You see the grain. You know the farmer. Reputation accretes through repeated triangular reinforcement rather than through a credit score calculated by a hub that has never witnessed an exchange at all.
We have not built civilization on top of peer coordination. We have replaced peer coordination with hub dependency and called the result civilization.
Structural healing requires restoring the geometry. When the farmer knows the family eating his food, that is a direct edge carrying verified information at low coordination cost. When the builder lives in the neighborhood he builds, his stake in the outcome is present-state and observable. When value flows node to node without passing through a toll-collecting hub, the network distributes resilience across its edges rather than concentrating fragility in its centers.
Nostr and Bitcoin are not primarily technical achievements. They are geometric ones. They embed verification into the protocol itself, making the protocol the intermediary while ensuring no single party controls it. The peer bond strengthens because it no longer depends on a hub that could fail, censor, or extract. This is not ideology. It is a return to the coordination structure that human exchange has always used when hubs have not yet captured the field.
The edge-distributed geometry is available again. The door is open.

2026-02-18 22:11:50 UTC

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We would want to launch the MarsCoin blockchain when we launch ships to head to the Red Planet. They would run the hardware locally.
Transactions between Earth and Mars would require a value exchange, like currency exchange today.
By the time we actually start launching, I think/hope/dream that BTC will be at $2M per coin, so it will be enough to get them started.
Star Trek ceased needing a unit of account and medium of exchange for capital when they invented the replicator. When all it takes is energy to create any object we can program the design for, costs fall to zero and are covered by entropy itself. But that's beyond our tech capabilities, basically Clarketech.

2026-02-18 22:00:50 UTC

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Let's seed MarsCoin with 1 BTC. That would give them 100M sats as a financial capital foundation, and they would create their own currency layer with 100M units, self-contained with a fixed supply. Any additional sats sent to the wallet on the Bitcoin base chain would not change that initial 100M, but would slightly reduce the purchasing power of MarsCoin vs. Bitcoin so it would be discouraged unless the trade balance back and forth between Mars and Earth could be maintained. That would encourage balanced trade from the start.
MarsCoin would flux in value, but would have the advantage of starting at 100% adoption instead of 0% adoption like Bitcoin did. Miners would not be releasing new coins into the system, just processing transaction fees like the Bitcoin miners will be doing after 2140. But the efforts to keep the system rolling would pay the costs.
Minerals, water, organics and other goods and services that are bought, sold and traded in the Martian markets would all be priced in MarsCoin. There's actually a game out there, Mars Tomorrow, that shows how the system would work.

2026-02-18 20:05:43 UTC

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And then we have this F'n Crap:
https://blossom.primal.net/fc6857f8d66d8a28685a5e642c46dea754008937d00e6cf2e9765bc4cc7ad81f.png

2026-02-17 18:48:34 UTC

BIP-110 violates the epistemological clarity Bitcoin provides. Bitcoin's purpose is verification of present state. Loading extra data treats blockchain as general-purpose database instead of provenance layer. That's category error. Like using a calculator as a hammer because it's solid. Wrong tool for wrong purpose.
People keep trying to make Bitcoin do everything instead of recognizing it does ONE THING perfectly.
Bitcoin verifies present state of who holds what.
That's it. That's the revolutionary contribution.
Everything else (smart contracts, NFTs, decentralized storage, whatever) should be BUILT ON TOP of that foundation, not crammed into the base layer.
The epistemological clarity Bitcoin provides is its value. Diluting that for feature bloat is the exact mistake debt-systems made: trying to make money do everything (medium of exchange, store of value, unit of account, credit creation, policy tool, etc.) instead of recognizing each function requires appropriate substrate.

2026-02-17 00:42:35 UTC

It is annoying to live in a world that devalues the medium of exchange currency intentionally, prevents verification of information without gatekeepers, locks down innovation behind paywalls and limits participation in governance unless you are one of the chosen few.

2026-02-15 18:43:00 UTC

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Yes, they don't automatically keep capital without permission, they just drain it from us through inflation. And whatever capital they collect through this pay.gov website doesn't do anything to pay down the debt. It's just an insult to our intelligence.

2026-02-14 00:47:21 UTC

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psst, you do know you're thinking out loud, right? You don't have to do that.

2026-02-13 22:12:55 UTC

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OP_RETURN does not need to allow more than 83 bytes. We can do anything we want, build anything we want, and we don't have to exceed that. That's what I meant by "little".

2026-02-13 21:47:45 UTC

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keyword: little

2026-02-13 20:16:44 UTC

too good not to share.
https://blossom.primal.net/ab2460137ab4e8c60db435ffd79b6b20736c4e05941ba4af217e563e5b11c85d.png

2026-02-12 15:07:57 UTC

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A server side service that gathers data and presents actionable intelligence about how to build our networks and how to grow the overall Nostr ecosystem would be a service worth paying for.

2026-02-12 14:53:10 UTC

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Jack, the fact that a Bitcoin company is offering loans of any kind is an insult to everything that Bitcoin stands for. It's bending the knee to the debt based systems that hold our entire global civilization in chains.
It doesn't matter how honest you are as a person, and I believe that you are a GOOD person who has been fed a bunch of lies about what makes a person wealthy, and you've designed your business with the intention of taking advantage of those lies instead of confronting them and building a real alternative.
Strike's model introduces debt-based coordination mechanics into what should be wealth-based infrastructure.
Let me map the geometric issue here:
Here is Strike's business model based on your description:
Strike borrows fiat (debt-based position: future obligation)
Customers pledge Bitcoin as collateral (wealth-based position: verified present asset)
The transaction converts wealth-based collateral into debt-based liquidity
Liquidation events transfer Bitcoin ownership to cover fiat debt obligations
The framework problem:
Jack's model creates a field merger between debt-based fiat coordination and wealth-based Bitcoin coordination. When customers pledge Bitcoin for fiat loans, they're not using Bitcoin as money, they're using Bitcoin as collateral within a fiat debt structure. This inverts Bitcoin's intended function.
The temporal direction matters: Jack's customers are borrowing from imagined future positions (fiat debt they must repay) secured against verified present positions (Bitcoin they already own). This is geometrically identical to traditional debt structures, just with different collateral.
What Strike misses:
You are correct that your business incentive is to keep loans healthy and customers solvent. But this doesn't change the fundamental geometry. Your model requires:
Customers believing fiat liquidity is worth more than Bitcoin ownership (It's not, nothing is)
Debt relationships with external fiat lenders (The chains that bind us to the past)
Liquidation mechanisms that convert Bitcoin to fiat under stress (The debt based singularity that is holding us back)
All three operate from future-oriented positions rather than present-verified positions.
There is an alternative: Lightning Yield Wallets (a true wealth-based model).
Stock: Bitcoin in Lightning channels
Velocity: Transaction routing frequency
Work: Network coordination improvement (faster, cheaper payments)
This alternative does four things:
Operates from present position (Bitcoin already in Lightning channels)
Creates value through network function (routing transactions)
Returns come from actual work performed (routing fees earned)
Field separation: Bitcoin stays Bitcoin, Lightning operates on Bitcoin rails
The compound dynamics:
Lightning Yield model creates compound growth:
More liquidity → better routing → more usage → more fees → more liquidity
What Strike could offer:
Lightning channel management services (helping users optimize channel positions)
Routing fee distribution (sharing returns from facilitating network transactions)
Liquidity pools that earn from network improvement rather than debt interest
Tools for users to become Lightning infrastructure rather than fiat borrowers
You've built incredible Lightning infrastructure. But you're using it to serve the fiat debt system instead of letting it demonstrate Bitcoin's wealth-based alternative. Lightning Yield Wallets would show what Bitcoin coordination can do when it operates on its own principles rather than bending to legacy financial mechanics.

2026-02-11 14:44:40 UTC

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https://dailyblockchain.github.io/

2026-02-11 14:34:42 UTC

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First google search sows something like this:
https://blossom.primal.net/1799c30041ab8d719db95cd68e02ba12f01fcecae0b832cc56280c50d20a4f85.png
So if you select a person on the list you would see who you both follow, and who else they follow that might lead to an increase connection coefficient.
Lots of ways to do the visualization, either static or dynamic. Network topology is a new science, but Obsidian has some of the best data graphs that I've seen.