Nostr notes by ZacG

Vancouver's @nprofile…2k4m conference makes Global News for ...

2025-08-21T23:38:41+02:00

Vancouver's learningbitcoinfdn (nprofile…2k4m) conference makes Global News for a panel proposal of heating Kitsilano Pool with #Bitcoin miners, allowing the pool to stay open year round while also generating new revenue for the city.

Epic. Thank you for all your support Jarrett👏

2025-08-18T19:26:54+02:00

In reply to nevent1q…taua
_________________________

Epic. Thank you for all your support Jarrett👏

Nostr onboarding at @nprofile…2k4m led by @nprofile…k6al from ...

2025-08-17T23:07:00+02:00

Nostr onboarding at learningbitcoinfdn (nprofile…2k4m) led by WillCasarin (nprofile…k6al) from damus (nprofile…sq8x)

Freedom is only a workshop away!

#learningbitcoin

Bitchatting in Vancouver, BC 🇨🇦 during the My First Bitcoin ...

2025-08-15T23:38:21+02:00

Bitchatting in Vancouver, BC 🇨🇦 during the My First Bitcoin Unconference and learningbitcoinfdn (nprofile…2k4m)!

2 years into my econ degree I discovered #Bitcoin. I pulled the ...

2025-06-26T17:42:15+02:00

2 years into my econ degree I discovered #Bitcoin.

I pulled the thread and everything unraveled. Learning about Bitcoin teaches you to ask the right questions. And along the way, it reveals how the world really works.

This is a big inspiration behind learningbitcoinfdn (nprofile…2k4m): to help others have that very same awakening.

https://bitcoinnews.com/interviews/canada-learning-bitcoin-zac-guignard/

Arsshh🔥

2025-06-26T17:37:03+02:00

In reply to nevent1q…qy74
_________________________

Arsshh🔥

Thank you, Frank!

2025-06-14T01:59:18+02:00

In reply to nevent1q…nu8w
_________________________

Thank you, Frank!

A true pinch me moment: my first ever article for #Bitcoin ...

2025-06-13T22:30:36+02:00

A true pinch me moment: my first ever article for #Bitcoin Magazine.

Returning from Oslo too inspired to not put pen to paper. The result is a reflection on brave dissidents, harsh repression, and the tools defending freedom at the Oslo Freedom Forum.

https://bitcoinmagazine.com/featured/the-30000-foot-view-of-the-oslo-freedom-forum

If you took the time to actually read the report, you would ...

2025-06-13T18:14:34+02:00

In reply to nevent1q…pctt
_________________________

If you took the time to actually read the report, you would realize Israel is literally in it.

Sounds like you need to join us in Oslo 🇳🇴 next year!

2025-05-30T17:47:46+02:00

In reply to nevent1q…7d8g
_________________________

Sounds like you need to join us in Oslo 🇳🇴 next year!

As I stepped onto the plane leaving Oslo 🇳🇴 the weight and ...

2025-05-30T17:42:49+02:00

As I stepped onto the plane leaving Oslo 🇳🇴 the weight and warmth of the last few days settled into my chest.

The Oslo Freedom Forum is not a conference. It's not a summit. It’s something harder to name. A convergence of courage, truth, and defiance that burns through the noise of the modern world and gives you no choice but to listen, feel, and act.

For the second time, I’ve walked away from OFF more convinced than ever that the tide is turning. That amid the censorship, surveillance, and state repression, something unstoppable is rising.

The Forum doesn’t trade in empty optimism. It delivers a different kind of hope: forged from lived experience, stitched together by people who have been in the dark and still chose to build the light.

The stories shared were hard. At times, devastating. But they weren’t offered for pity. They were calls to action.

You don’t leave Oslo feeling defeated. You leave reminded that truth is more powerful than propaganda, that code can protect life, and that resistance isn’t just possible, it’s already happening.

This year, there was a noticeable pulse of momentum around freedom tech. Human rights defenders from the front lines spoke not only about the oppression they face, but about the tools they’re using to push back. #Bitcoin, nostr, privacy protocols, open source AI models, and uncensorable VPNs.

These are the instruments keeping movements alive, getting money to dissidents, and protecting voices at risk. And behind every tool is a quiet builder, a pseudonymous contributor, or an open-source developer who may never take the stage but is just as much a part of the story.

Being part of the financial freedom team at HRF only deepens this sense of purpose. I couldn’t ask for a more principled, talented group of allies.
gladstein (nprofile…lwjj) ck (nprofile…xsde) arshmolu (nprofile…6hga) ayelen (nprofile…cd98)
AnnaChekhovich (nprofile…fh3z) nprofile1qqsrjp40qtt73860r6ptfgr0ejwgl58s499egfvlvs49zszy4u2unaqpp4mhxue69uhkummn9ekx7mqpr3mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmq3jzqf4nostr (nprofile…ostr):nprofile1qqsgpq7lvzqajx6zhncsggs4ujlu39903y7dql4ywt5qr0q8jndrjdqpzamhxw309a6k6cnjv4kzumr0vdskcw358q6rstcpz9mhxw309a6k6cnjv4kr5dpcxsuz7j9w6wc winkokoaung (nprofile…pk4j)

These are people who care deeply, work quietly, and show up every day to make sure those fighting for their rights and freedoms aren’t left alone.

It’s easy to feel overwhelmed by the scale of the problem, but being in this team reminds me that change starts by standing with those who share a vision and mission for a more free and just world.

I’m leaving with a head full of names and projects, and a heart that feels cracked open in the best way. I’m grateful for the conversations, the hard questions, the laughter over dinners, and the moments of silence that said more than any speech could.

Above all, I’m reminded that no authoritarian regime, no matter how brutal or well-funded, has ever succeeded in stamping out the human desire to be free.

Oslo is proof of that. And if you're paying attention, it's also a glimpse into what comes next.

Onwards and upwards, my friends 🧡

The Oslo Freedom Forum 🇳🇴 is a powerful reminder that ...

2025-05-27T12:55:23+02:00

The Oslo Freedom Forum 🇳🇴 is a powerful reminder that #Bitcoin remains the single best tool we have at our disposal to uplift and free the billions of people still living under authoritarian rule.

Reposts drive reach. Can save your sats for future zaps, but can ...

2025-05-26T08:37:13+02:00

In reply to nevent1q…0sa3
_________________________

Reposts drive reach. Can save your sats for future zaps, but can never go wrong with a donation to Gaza either.

Good morning, Oslo! 🇳🇴 Always great to be back for the Oslo ...

2025-05-26T08:34:08+02:00

Good morning, Oslo! 🇳🇴

Always great to be back for the Oslo Freedom Forum.

I think you mean Hockey 🏒

2025-05-16T00:27:06+02:00

In reply to nevent1q…3ehp
_________________________

I think you mean Hockey 🏒

A Syrian economist is proposing the central bank removes two ...

2025-04-14T21:10:01+02:00

A Syrian economist is proposing the central bank removes two zeros from the Syrian pound to solve their economic crisis and remedy ongoing hyperinflation.

If the rules of your money can be changed overnight, opt out with #Bitcoin

#Bitcoin is the emancipatory revolution of our time. ...

2025-04-11T19:17:44+02:00

#Bitcoin is the emancipatory revolution of our time.

HRF's first grants of 2025! Onwards and upwards🚀👏 ...

2025-04-01T16:43:08+02:00

HRF's first grants of 2025!

Onwards and upwards🚀👏

quoting
naddr1qp…njc7

NEW YORK (April 1,2025) — The Human Rights Foundation (HRF) is pleased to announce 1 billion satoshis of gifts from its Bitcoin Development Fund. HRF’s latest batch of grants supports open-source development, educational initiatives, mining decentralization, and privacy tools for activists living under authoritarian regimes across Latin America, Africa, and Asia. The gifts also further promote Internet freedom and decentralized communications, ensuring dissidents can connect, communicate, organize, and transact without censorship.

Quarter 1 2025 grantees include:

NetBlocks

Authoritarian regimes weaponize Internet shutdowns to silence dissent, restrict information, and cut off financial lifelines. By blocking communication channels, they isolate individuals, suppress independent media, and disrupt financial flows. NetBlocks exposes these digital crackdowns in real time, ensuring the world sees and responds to digital repression. Through continuous monitoring, it equips activists, journalists, and civil society with the data needed to challenge censorship and advocate for an open internet. With HRF support, NetBlocks will expand its monitoring, documentation, and research — reinforcing internet and financial freedom as a critical human rights safeguard.

TollGate

Authoritarian regimes exploit Internet Service Providers (ISPs) to monitor and suppress dissent, undermining online privacy essential for human rights defenders. TollGate, developed by c03rad0r, is software that transforms any WiFi router into a permissionless Internet Service Provider (ISP) using Bitcoin and ecash. By decentralizing Internet access and turning any WiFi router into part of a peer-to-peer, private, open internet network, Tollgate helps resist authoritarian surveillance and protect digital freedoms. With HRF support, TollGate is advancing an open, accessible, and censorship-proof internet for those who need it most.

Vinteum

Across Latin America, authoritarian regimes restrict financial access to tighten their grip on power. But a growing network of developers is working to change that. Vinteum, a nonprofit Bitcoin research and development center led by executive director Lucas Ferreira, trains and funds developers to strengthen Bitcoin as a tool for financial freedom. Through education, development, and community building, Vinteum fosters local talent and expands regional Bitcoin accessibility. With HRF support, Vinteum will scale its programs and help more Latin Americans achieve financial independence.

BTCPay Server

Dictators often block payment processors to cripple the work of nonprofits and dissidents. BTCPay Server, a self-hosted, open-source Bitcoin payment processor, now breaks this control. It provides individuals, nonprofits, and merchants with a censorship-resistant way to accept payments. Activists and nonprofits can now process global payments, launch crowdfunding campaigns, and build movements on Bitcoin — all without third parties or restrictions. With HRF support, BTCPay Server will expand access to self-custodial payments, enabling more organizations under dictatorships to transact freely.

Africa Bitcoin Institute (ABI)

Across Africa, dictators manipulate financial institutions to retain control, while more than half the population remains unbanked. Bitcoin offers an alternative, but without proper research, education, and policy frameworks, adoption remains limited. The Africa Bitcoin Institute (ABI), supported by the Rwandan human rights activist Anaïse Kanimba, is launching to bridge this gap. Through evidence-based research and policy recommendations, ABI will equip policymakers with the knowledge and tools to integrate Bitcoin into African economies. With HRF support, ABI will promote financial autonomy and solidify Bitcoin’s role as a pillar of economic freedom.

Bitcoin Core Graphical User Interface

Running a Bitcoin node (software that enables users to verify transitions and enforce the network’s rules) is key to financial sovereignty. But outdated and clunky interfaces make it difficult, especially on mobile devices. bitcoin-core/gui-qml, a project Go Qu will contribute to, modernizes Bitcoin Core’s interface to be more accessible and mobile-friendly. By lowering the barriers to node operation, this project empowers more people — especially under autocracies in Africa, where mobile phones dominate — to strengthen their financial sovereignty. With HRF support, bitcoin-core/gui-qml is expanding node access, supporting Bitcoin’s decentralization, and reinforcing its censorship resistance for the long term.

Rkrux

As an open-source project, Bitcoin Core relies on free and open-source developers to maintain its integrity, security, and resilience against potential threats. Rkrux, a Bitcoin Core developer, plays a crucial role by reviewing code, testing releases, and improving documentation to keep Bitcoin Core robust, secure, and censorship-resistant. Rkurx’s work identifies vulnerabilities, refines changes, and strengthens Bitcoin’s long-term stability. With HRF support, Rkrux is deepening his contributions, reinforcing Bitcoin’s foundation, and ensuring it remains a financial lifeline for human rights defenders worldwide.

Elsat

As online censorship intensifies, free speech and financial freedom are under threat. Nostr developer Elsat is working to defend these freedoms by contributing to Damus, Nostrability, and Zap.store — projects that empower individuals to communicate and transact without centralized control. Damus enables private, censorship-resistant messaging; Nostrability improves app interoperability; and Zap.store helps free and open-source software (FOSS) developers distribute and monetize their work peer-to-peer. With HRF support, Elsat is strengthening tools that protect free speech for dissidents under oppressive environments.

Relay Wizard

Nostr, a decentralized communication protocol, relies on a network of relays (servers that pass messages between users). But setting up relays can be complex and intimidating. Relay Wizard, a tool created by software developer J the Code Monkey, simplifies this process by automating relay setup. This allows anyone to run a relay, reduces reliance on intermediaries, and helps keep nostr resilient against online speech censorship. With HRF support, J the Code Monkey will expand development and operations, ensuring nostr remains a secure, uncensorable communication platform accessible to everyone.

Waye

Censorship-resistant technology is essential to protecting global freedom. Yet open-source developers often operate like solo entrepreneurs — juggling engineering, project management, and community-building on their own. This leads to inefficiency, isolation, and burnout. Waye addresses this gap by providing psycho-social support for developers working on freedom tech. Led by Bitcoin Core developer Amiti Uttarwar and operational architect Anna Sides, Waye strengthens the human infrastructure of open source. With HRF support, Waye will support developers from global majority countries, empowering them to build the tools their fellow citizens need.

Hashpool

Centralization in Bitcoin mining threatens its censorship resistance and makes it harder for small-scale miners to compete. Hashpool, a self-hosted mining pool by developer vnprc, eliminates reliance on centralized entities while giving miners more control over their earnings. Instead of traditional mining pool payouts, Hashpool rewards participants with ecash tokens — digital cash that enables instant, private transactions. This ensures miners receive payouts instantly while preserving their financial privacy. It also helps keep mining open and decentralized. With HRF support, vnprc will further develop Hashpool and help resist mining centralization.

Cashu KVAC

As dictators ramp up financial surveillance to threaten dissidents, protecting financial privacy is more critical than ever. Cashu KVAC is a software upgrade for Cashu — a Chaumian ecash-based system that enables extremely strong financial privacy. Developed by lollerfirst, it improves privacy and efficiency by reducing wallet data storage and concealing transaction amounts from third parties. These improvements strengthen ecash functionality, safeguarding financial privacy for individuals and nonprofits alike. With HRF support, lollerfirst will develop Cashu KVAC and help protect digital and financial freedom for those living under the watchful eyes of dictators.

Self-Custody Research

In unstable economies and under authoritarian regimes, self-custodial Bitcoin is a financial lifeline — portable money that cannot be seized, censored, or debased. While Bitcoin enables financial freedom, scaling self-custody remains a challenge. Bitcoin educator and developer Brandon Black (Rearden) is researching these limitations and exploring technical solutions to make self-custody more accessible. His work documents the obstacles users face today and provides insights into how Bitcoin can evolve. With HRF support, Black will expand self-custody education, equipping individuals under dictatorships with the knowledge and tools to secure their financial independence.

Stable Channels

For citizens living under authoritarian regimes and struggling economies, Bitcoin is a lifeline — but its volatility can threaten short-term financial security. Stable Channels, created by software engineer Tony Klausing, brings stabilized Bitcoin-backed balances to the Lightning Network (allowing users to peg Bitcoin to fiat currencies in a self-custodial way). This innovation enables individuals to transact freely without exposure to wild price swings or to centralized stablecoins. HRF’s support will help expand Stable Channels development, ecash integrations, and community outreach — helping more individuals harness Bitcoin’s power while maintaining financial stability.

Bitsacco

In Kenya, Savings and Credit Cooperative Organizations (SACCOs) provide savings and lending services to their communities. But reliance on traditional banks limits their autonomy. Bitsacco, created by developer okjodom, reinvents SACCOs by leveraging Bitcoin and Fedimints (a community-based custody model in Bitcoin). In this way, Bitsacco offers a more open, inclusive, and self-sustaining financial option. By reducing dependence on banks, Bitsacco empowers communities to manage their savings and loans independently. With HRF support, Bitsacco will provide a secure, familiar path to sound money in a region where financial instability and restricted access are persistent challenges.

The Core

In Africa, where financial literacy gaps persist, hands-on Bitcoin education is crucial for adoption. The Core, founded by Kenyan Bitcoin educator Felix Mukungu, bridges this gap by equipping Africans with the knowledge and skills to use Bitcoin confidently. Through hands-on training in self-custody, Lightning wallets, and Bitcoin nodes, The Core empowers individuals to take control of their money and transact freely. This grant will help expand The Core’s monthly meetups, online courses, and student-support programs — bringing Bitcoin education to more individuals across Kenya and the wider African continent.

Bitcoin Babies

Under many authoritarian regimes, infant malnutrition is exacerbated and puts countless children at risk. Bitcoin Babies, founded by Naomi Wambui, is a project that tackles this issue by combining infant nutrition education with Bitcoin-based financial literacy. Through weekly Bitcoin stipends, financial literacy training, and community support, mothers under authoritarian rule gain the tools needed to improve their children’s health while achieving long-term financial stability. With this grant, Bitcoin Babies will expand its impact, helping more at-risk communities with resources that are otherwise unavailable and inaccessible, empowering mothers to build brighter futures.

East Asia Bitcoin Developer Apprenticeship Program

In East Asia, language barriers and limited mentorship have made open-source Bitcoin development inaccessible to many. The East Asia Bitcoin Developer Apprenticeship Program, led by Bitcoin developer Calvin Kim, is changing that by creating a pathway for Korean and Japanese developers to enter the field. Through hands-on training, mentees gain practical experience, contribute to open-source projects, and eventually become mentors — strengthening the region’s developer ecosystem. With this funding, the apprenticeship program will expand, diversify Bitcoin’s global developer base, make freedom technology more accessible across Asia, and forge links with North Korean defectors.

Bitcoin Week at TalentLand 2025

Across Latin America, government overreach threatens financial freedom. At TalentLand 2025, Latin America’s largest tech event, Bitcoin Week will demonstrate how Bitcoin empowers individuals to reclaim their financial sovereignty. Led by developer Super Testnet and the Bitcoin and Lightning Guadalajara community, this initiative educates Mexico’s tech community on Bitcoin’s role in fostering financial sovereignty. Through workshops, hackathons, and debates, it nurtures developer talent and engages future tech leaders. With this funding, Bitcoin Week will help expand awareness of Bitcoin’s power to resist financial oppression and accelerate Bitcoin adoption across Latin America.

Base58

Learning Bitcoin’s technical aspects can feel overwhelming. Base58’s Bitcoin Live Action Role Play (LARP) simplifies this with a two-hour workshop where participants act out the Bitcoin network and see how transactions are made, how they get to miners, the work a Bitcoin node does, and how it helps secure the network. Created by Lisa Neigut (niftynei), a prolific Bitcoin developer, educator, and founder of Base58 and the bitcoin++ conference, alongside David Rodriguez, this immersive experience makes Bitcoin education tangible and entertaining. Now expanding beyond North America, it will train new facilitators, prioritizing regions with limited Bitcoin education due to authoritarian restrictions. With this funding, Base58 Bitcoin LARP will equip more facilitators to teach and learn Bitcoin in an engaging, accessible way.

BTCenEspañol

Across Latin America, financial repression and limited access to Bitcoin education leave many without the tools to navigate financial repression. BTCenEspañol has been a leader in Spanish-language Bitcoin education since 2014. With a goal of reaching one million learners and training 100 teachers, BTCenEspañol is expanding to make Bitcoin education more accessible across the region, especially in places like Nicaragua and Venezuela. HRF’s grant will support this growth, equipping individuals with the knowledge to secure their financial independence amid rising authoritarianism in the continent.

Increasing nonprofit Adoption of Bitcoin

Under dictatorships, non-governmental organizations face frozen bank accounts, surveillance, and financial censorship — limiting their ability to support vulnerable communities. Bitcoin researcher Daniel Batten is quantifying Bitcoin’s role as a financial lifeline to help nonprofits overcome these challenges. Through empirical research, his initiative will show how Bitcoin enables nonprofits under authoritarian regimes to operate more freely. With this grant, the project will equip nonprofits in closed societies with the knowledge and tools to integrate Bitcoin into their operations, strengthening their financial resilience and advancing global movements.

Bitcoin for Good

When authoritarian regimes weaponize the financial system against dissent, nonprofits and charities are among the first to suffer. Bitcoin for Good is an educational initiative led by activist and Groundswell founder Hadiya Masieh. It helps organizations break free by teaching them how to accept and manage censorship-resistant funding. Through hands-on training and direct integration with Bitcoin for donations, nonprofits learn to operate outside the reach of financial gatekeepers and regimes. With this grant, Bitcoin for Good will help nonprofits stay funded, independent, and free to continue their work.

About BDF HRF’s Bitcoin Development Fund (BDF) supports individuals and projects that make Bitcoin and related freedom technologies more powerful tools for human rights defenders operating in challenging political and financial environments. Since launching in 2020, BDF has gifted $7.8 million in BTC to 284 projects across 62 countries worldwide. The next round of grants will be announced at the 17th annual Oslo Freedom Forum, taking place May 26-28, 2025, in Oslo, Norway.

Learn more about HRF’s Bitcoin Development Fund on our website.

About BDF

HRF’s Bitcoin Development Fund (BDF) supports individuals and projects that make Bitcoin and related freedom technologies more powerful tools for human rights defenders operating in challenging political and financial environments. Since launching in 2020, BDF has gifted $7.8 million in BTC to 284 projects across 62 countries worldwide. The next round of grants will be announced at the 17th annual Oslo Freedom Forum, taking place May 26-28, 2025, in Oslo, Norway.

Learn more about HRF’s Bitcoin Development Fund on our website.

HRF is a registered 501(c)(3) nonprofit organization. Donations are tax-deductible to the fullest extent allowable by law. Gifts can be made at HRF.org/DevFund, and proposals for support can be submitted to https://hrf.org/bdfapply.

Follow @HRF on X for more updates on this project and all of our other programs designed to promote freedom and human rights around the world.

And thank you, for reading it!

2025-03-27T15:01:43+01:00

In reply to nevent1q…c4u8
_________________________

And thank you, for reading it!

Spent last week in Austin for SXSW where HRF’s Financial ...

2025-03-20T15:44:05+01:00

Spent last week in Austin for SXSW where HRF’s Financial Freedom team came to raise awareness about CBDCs—through our CBDC Tracker booth and a panel featuring experts EconWithNick (nprofile…atyn), Charlene Fadirepo, and loki (nprofile…5dur)

I left the conference with surprising insights after hundreds of conversations🧵

The Public Remains Dangerously Unaware

This was the theme of our CBDC Tracker booth, and it couldn’t have rung truer. Over 130 jurisdictions are exploring CBDCs. 3.6 billion people live under authoritarian regimes working on their own CBDCs. Yet, most people have no idea this is happening.

Out of 100 people I conversed with, I estimate less than five were familiar with CBDCs.

People generally don’t understand what CBDCs are.

Many thought CBDCs are just another form of cryptocurrency. Memecoins, Bitcoin, CBDCs. They lump them all together as some kind of “digital money.” Once we explained that CBDCs are a direct liability of a central bank — meaning you are banking directly with your central bank and by extension your government, it clicked.

Lack of understanding of the risks CBDCs pose.

A few people had heard of CBDCs but hadn’t yet fully grasped the full extent of their capabilities—such as state surveillance, programmability, censorship, and seizure—and the implications these have for transactional freedom, financial privacy, and civil liberties around the world.

Right now, people are overwhelmingly against CBDCs once they understand them.

But that could change fast. What happens when their politician of choice starts pushing CBDCs as “progress” or for “financial inclusion”? We’re on borrowed time before they get repackaged and sold to the public, at home and abroad.

Even in countries where CBDCs already exist, people are unaware.

Met a young man from Nigeria whose family back home is living under the eNaira—Nigeria’s struggling and state-controlled CBDC. He had no idea it even existed. Again, people remain dangerously unaware of CBDCs and the threats they pose, even when they’re already living under them.

The conversation would inevitably move to Bitcoin.

At first, when people asked, “What’s the alternative?” or “What’s the solution?”— I hesitated. I didn’t want to scare them off by promptly answering Bitcoin, causing them to disregard anything I had previously said. Instead, I leaned into terms like “awareness,” “open-source alternatives,” and “decentralized money.”

But as the conversation deepened, it became clear that people were hungry for more than vague responses. They wanted solutions. And Bitcoin was the answer they sought.

What surprised me was how quickly people became receptive to Bitcoin after learning about the dangers of CBDCs. With their newly equipped understanding of the risks, Bitcoin no longer felt like an abstract concept—it became a real solution, especially for those in authoritarian regimes that constantly strip away basic human rights and financial freedom.

A small, but growing group gets it.

We met some folks who already understood Bitcoin is fundamentally different from state-controlled money like CBDCs and speculative tokens that dominate the rest of the crypto space.

In fact, we probably met more “bitcoiners” than we did people who understood and were aware of CBDCs . This suggests that CBDCs remain even less understood than Bitcoin, at least in the sample we observed.

Overall, it was a successful and eye-opening week.

The conversations were enlightening, and it’s clear that while many are unaware of CBDCs, once they understand them, they see the risks. While this may sound grim, I’ve come to accept that CBDCs are effectively inevitable under most authoritarian regimes.

That means our best defense is to educate and equip individuals with the tools and resources to circumvent the top-down economic control CBDCs offer governments.

That means #Bitcoin. That means grassroots education.

This is our zero-to-one moment and the time to act is now.

HRF's CBDC Booth at #SXSW, Austin📍 THE PUBLIC REMAINS ...

2025-03-09T21:52:49+01:00

HRF's CBDC Booth at #SXSW, Austin📍

THE PUBLIC REMAINS DANGEROUSLY UNAWARE.

GM Nostr! Here's a deep dive into the absurdity of Cuba's ...

2025-03-06T16:02:04+01:00

GM Nostr!

Here's a deep dive into the absurdity of Cuba's monetary system I did while writing HRF's financialfreedomreport.org

In 2021, the Communist Party of Cuba forced thousands of Cubans to convert their savings into "Certificates of Deposit" (CDs).

Four years later, they still can't access a cent.

Here’s what happened🧵

For decades, Cuba had two currencies:

1. The CUC (Cuban Convertible Peso) – Used for buying essential goods and pegged to the USD.

2. The CUP (Cuban Peso) – What most Cubans were paid in, nearly worthless.
The result? Cubans were paid in a currency with no value but forced to use a currency that was pegged to the dollar for basic purchases.

This created an economic divide, with wages falling far behind the prices of even basic necessities.

The CUC first came to be in 2004 when the Cuban government forbade the use of dollars (previously legal tender), forcing both Cubans and tourists alike to exchange them (and other foreign currencies) for Cuban Convertible Pesos (CUCs).

For years, Cubans who had foreign currency—whether through remittances, salaries, or savings—had to convert it into Cuban Convertible Pesos (CUC), which was promised as pegged 1:1 with the US dollar.

In 2021, however, Cuba’s government eliminated the CUC under the “Tarea Ordenamiento” reforms in what was dubbed “Day Zero.” The government claimed this would 'unify' the monetary system and simplify the economy.
In reality, it was a desperate move to cover up years of mismanagement and foreign currency shortages.

In other words, the regime printed way more CUCs than it had dollars to back them up.

So, instead of receiving their dollars back, Cubans with CUCs were forced to choose between two options:

1. Convert to Cuban Pesos (CUP) at a 24:1 rate (black market rate was much higher).

2. Lock money in CDs, with the promise of getting USD back later when "liquidity allows."

Many Cubans chose CDs, hoping to get their dollars back. But unbeknownst to Cubans, the details made them effectively worthless:

❌ No clear repayment timeline
📉 Near-zero interest (0.15%)
🚫 Non-transferable, except by inheritance

Since the monetary union of the CUC and CUP in 2021, the peso (CUP) has gone into freefall:

📉 2021: Gov’t set exchange rate: 24 CUP per USD
📉 2022 Black market rate: 50 CUP per USD
📉 2023: 300 CUP per USD
📉 2024: 400+ CUP per USD

Meanwhile, Cubans who chose to lock their savings in CDs still can’t access their increasingly devalued money.

Banks refuse requests. The regime ignores complaints. And those who dissent—online or in person—risk government censorship or frozen accounts.

Cubans are not happy:

"They took our dollars and gave us a piece of paper. In any other country, this would be a crime."

“No matter how you look at it, it’s nonsensical. What’s the point of having an account if you can’t touch even a dollar of the money deposited there?"

The Cuban regime didn’t just mismanage the economy and currency, it robbed its own people under the guise of policy.

By trapping citizens’ hard-earned savings, they made sure ordinary Cubans—not the government—paid the price of regime-induced financial devastation.

If you enjoyed these insights, consider subscribing to HRF's Financial Freedom Report for more news and learn how #Bitcoin is helping alleviate the monetary struggles of citizens under authoritarian regimes.👇

Mance Rayder cause he literally opted out of a centralized system ...

2025-02-27T22:47:50+01:00

In reply to nevent1q…0e2h
_________________________

Mance Rayder cause he literally opted out of a centralized system (the Night’s Watch) to live freely beyond the Wall believing in self-sovereignty, uniting people outside traditional power structures, and resisting oppressive rulers.

... And maybe Petyr Baelish only cause he was Master of Coin. And Tyrion because he's likely the most intelligent.

The financial freedom #Bitcoin provides is the overarching reason ...

2025-02-24T19:54:53+01:00

The financial freedom #Bitcoin provides is the overarching reason why once a Bitcoiner, you never go back.

It's fundamentally impossible to do so after understanding the superior alternative.

It would be like trying email and opting to write letters delivered by raven instead.

Many people approach #Bitcoin as an investment, which can lead to ...

2025-02-23T18:02:29+01:00

Many people approach #Bitcoin as an investment, which can lead to a fundamental misunderstanding of its nature.

You're not investing in Bitcoin, you’re using a better form of money.

-Your money isn’t someone else’s liability.
-Your money has no intermediaries.
-Your money doesn’t require permission to use.
-Your money can’t be censored.
-Your money is fully under your control.
-Your money is always accessible.
-Your money can be sent anywhere, anytime.
-Your money is borderless.
-Your money travels with you.
-Your money works for any purchase, big or small.
-Your money can’t be debased.
-Your money appreciates over time.
-Your money is harder to track or surveil.
-Your money can’t be taken from you.

Bitcoin isn’t an investment. It’s financial freedom.

With world leaders launching meme coins becoming a trend, ...

2025-02-18T17:00:43+01:00

With world leaders launching meme coins becoming a trend, here’s what I discovered while researching the Central African Republic’s government-backed meme coin $CAR for HRF’s financialfreedomreport.org🧵

On February 10th, CAR President Faustin-Archange Touadéra announced on X the launch of a government backed meme coin called $CAR claiming it will “unite people” and “support national development.”

The reality is actually more simple: meme coins are largely speculative assets, prone to pump-and-dump cycles, and often serving as vehicles for insiders to profit at the expense of those who buy in.

CAR’s 1 billion token supply was carved up predictably: 35% to ‘country development,’ 25% to ‘creators & company,’ 20.7% for liquidity, 10% for charity, and just 9.3% for public distribution. In short, insiders controlled the vast majority.

Within a day of its launch, $CAR shot to a market cap of $900 million before crashing spectacularly, plunging 97% from its peak and leaving the vast majority of investors holding worthless tokens.

If this sounds familiar, it’s because President Toudéra pulled a similar stunt only a couple years earlier.

In 2022, they launched Sango Coin, a token that promised citizenship and land to its investors. The reality? Only 7.5% of the supply was sold, and those who did “buy in” did not receive what was promised. The official Sango Coin website is also non functional.

They even convinced people to donate their Bitcoin to “back” Sango Coin, then took all the donated funds.

Even before Sango, CAR made global headlines by adopting Bitcoin as “legal tender.” Unfortunately this was less about freedom and individual sovereignty and more about optics. In other words, a marketing ploy to propel the Sango Coin scam.

Regardless of the intentions, Bitcoin as legal tender didn't last long as CAR bowed to pressure from the regional monetary union, the Economic and Monetary Community of Central Africa, and walked back Bitcoin’s legal tender status and their paper promises.

The recurring theme in CAR is that the government continues to pedal schemes they claim will benefit the public, but instead repeatedly benefits regime insiders. This came at the opportunity cost of instead advancing decentralized, open, and censorship-resistant money that can actually benefit such an impoverished population.

The $CAR meme coin is just the latest gimmick and reports are already surfacing that regime insiders cashed out $40M.

With a second scam in just as many years, this clearly isn’t about financial innovation: it’s about power and profit for the few.

The real tragedy? CAR’s people deserve financial freedom.

#Bitcoin could provide a way to escape the CFA system that is deeply rooted in monetary colonialism, but instead, the government has chosen speculative tokens that enrich elites at the expense of the public.

Until then, its citizens remain trapped in a system where politicians experiment with money, and the people pay the price.

The fact that the entire crypto space has devolved into nothing ...

2025-02-17T21:43:03+01:00

The fact that the entire crypto space has devolved into nothing but repeated meme coin launches is proof that it has absolutely no future.

It was always just #Bitcoin.

A little research I did on India's central bank digital ...

2025-02-10T23:40:26+01:00

A little research I did on India's central bank digital currency (CBDC) while writing HRF's financialfreedomreport.org

🧵👇

The Reserve Bank of India (RBI) recently partnered with fintech firms MobiKwik and Cred to expand the digital rupee (India’s CBDC) using existing payment infrastructure and financial institutions. This includes UPI (Unified Payments Interface), India’s government-owned real-time payment system, which already dominates the country's digital payment sector.

With a combined user base of 180 million, Mobikwik and Cred, both integrated with UPI, will act as entry points for public access to the CBDC through the new “e₹ wallet” CBDC app.

Why does this matter?

Unlike Bitcoin, CBDCs aren’t neutral money — they are programmable, surveilled, and fully controlled by the state, allowing for transactions to be tracked, censored, frozen, or even confiscated at will.

The new e₹ wallet mandates KYC video verification to transact — and while these requirements may seem routine, in a CBDC system, they remove the option of financial anonymity altogether.

The new e₹ wallet imposes strict limits on citizens:

💠₹10,000 per transaction ($115)
💠₹50,000 daily cap ($577)
💠Mandatory video KYC
💠Integration with UPI for tracking every payment

India is already the global leader in digital transactions. In 2022, 46% of all real-time global digital payments happened in India. Further, the digital rupee CBDC peaked at 1 million retail transactions in 2023. Luckily, it has tapered off since.

It's critical to understand that the RBI isn’t just rolling out a CBDC — it’s embedding it into the country's dominant payments infrastructure (UPI), easing in new users and making opting out increasingly difficult.

This all comes as part of India’s stated goal of achieving a cashless economy. Exemplifying this, in 2016, India tried to reduce the use of cash in its economy by demonetizing, overnight, two of its most widely used bank notes.

Further, India plans to export its digital payments model to 20 countries by 2028, integrating UPI internationally. A government-controlled payments network with built-in surveillance powers is a blueprint for financial repression on a global scale.

It has become abundantly clear that CBDCs give governments unprecedented control over individuals' financial activity, such as the ability to freeze or restrict funds instantly, the imposition of negative interest rates, expiry dates on savings, and selective access based on political or social behavior.

Already, India has demonstrated its willingness to take financially repressive measures to suppress political opposition. In the lead up to the 2024 election, the Indian government, led by Prime Minister Narendra Modi, froze the bank accounts of its largest political opposition, the Indian National Congress (INC), citing alleged tax violations and leaving the party financially paralyzed mere weeks before the upcoming election.

India has a population of over 1.4 billion, and while the CBDC is still in its pilot phase, its rollout is accelerating dramatically.

Do you want to live in a world where access to your own money depends on government approval?

The writing is on the wall: If India continues this trajectory, financial freedom will be increasingly under threat for billions of people.

#Bitcoin remains one of the few tools left for true financial freedom. The question remains — will Indians be able to use it freely?

For those of you wondering why I didn't post this on Nostr, ...

2025-02-06T16:11:45+01:00

For those of you wondering why I didn't post this on Nostr, it's because folks over here already get it. It's the people on Twitter who need to hear this and have it called out.

quoting
nevent1q…83tz
I miss the old bitcoin.

Don't worry — I'm on Nostr too.

2025-02-06T15:44:13+01:00

In reply to nevent1q…n4y0
_________________________

Don't worry — I'm on Nostr too.

Posting @nprofile…t5ph's Financial Freedom Report natively ...

2025-02-04T19:58:45+01:00

Posting HRF (nprofile…t5ph)'s Financial Freedom Report natively on Nostr has been one of my favourite newsletter initiaves.

The state of global financial freedom enshrined weekly on an uncensorable and globally accessible protocol.

Bullish 🚀

quoting
naddr1qq…rf7h

Good morning, readers!

This week, authoritarian regimes augmented their control and monitoring of online spaces in an attempt to suppress the dissenting voices of those they have financially repressed. While Pakistanis grapple with the highest cost of living in Asia, the military-backed regime passed an oppressive social media bill that empowers the government to imprison and fine individuals deemed to be spreading “disinformation” online.\ \ Meanwhile, in Belarus, authoritarian Alexander Lukashenko secured a seventh term in an openly rigged presidential election, further consolidating his grip on power and deepening the country’s political and financial repression. This prolongs his rule beyond three decades, cementing him as the sole ruler of Belarus since the country gained independence from the Soviet Union in 1991.

In freedom technology news, open-source developer Super Testnet released a new privacy tool called Hurricash. It lets multiple users lock funds together in a single Bitcoin Unspent Transaction Output (UTXO), allowing them to transact within the pool of users with greater privacy and efficiency. With greater liquidity and adoption, it could prove a useful tool for human rights activists seeking financial privacy. \ \ Additionally, Zaprite integrated BTCPay Server, enabling users to accept Bitcoin, Lightning, and fiat payments using self-custodial and self-hosted Bitcoin infrastructure. This is particularly valuable for nonprofits and activists in authoritarian regimes, where governments monitor and restrict financial activity.

We end with the latest episode of the “Money Matters” podcast, where Jack Mallers, CEO of Strike, interviews HRF Chief Strategy Officer Alex Gladstein to discuss the often overlooked connection between Bitcoin and financial freedom.

Now, let’s jump right in!

Subscribe Here

GLOBAL NEWS

Belarus | Lukashenko Sweeps Openly Rigged Election Amid Financial Repression

In Belarus, authoritarian leader Alexander Lukashenko secured a seventh term in an openly rigged presidential election. Lukashenko’s crusade against dissent and political opposition has left many citizens and opposition figures exiled, imprisoned, and financially repressed. Historically, his regime has frozen bank accounts, blocked foreign currency exchanges, and cut off independent media from funding. By wielding financial and political power, Lukashenko ensures that no real opposition can rise, turning Belarus into a country where even the illusion of democracy has disappeared. In these environments, Bitcoin and tools like Lnp2pbot (an HRF grantee) help Belarusians circumvent financial restrictions and transact in a currency that Lukashenko can’t control.

Nigeria | Joins BRICS Economic Coalition

Nigeria is expanding its financial repression both internationally and domestically. It recently joined BRICS, an intergovernmental economic organization led by the Chinese and Russian regimes. For some, this raises concerns as Nigeria may deepen its authoritarian ways and further restrict individual financial freedoms. Member countries are each leaders in the development and implementation of central bank digital currencies (CBDCs), threatening individual financial autonomy as financial control is increasingly placed under the purview of authoritarian states. In parallel, the Nigerian regime plans to distribute a 75,000 naira ($48) “cash transfer” to the nation’s poorest citizens. This bid to alleviate poverty risks, while stoking inflation and compromising privacy, as the initiative relies on digital registration through the National Identity Number (NIN) system. Nigeria’s strategy of using both micro and macro financial controls limits open markets and curtails individual freedoms.

Pakistan | Regime Passes Repressive Bill Targeting Online Spaces

Pakistan’s military-backed regime passed a repressive social media bill that allows officials to imprison citizens for spreading “disinformation” online. Under this new law, officials can block “unlawful and offensive” content and remove users from social media at a time when Pakistanis are increasingly turning to online spaces to express discontent over regime-imposed economic hardships. Those “spreading disinformation” risk facing three years in prison and fines of up to 2 million rupees ($7,150) — a harsh penalty for citizens grappling with the highest cost of living on the continent. Further, social platforms must register with the Social Media Protection and Regulatory Authority to operate or risk a permanent ban. Censorship and Internet controls are sadly nothing new for Pakistanis since the regime has blocked X during elections and enacted a nationwide Internet firewall to suppress public discourse and action.

Cuba | Salary of Baseball Player Buys a Carton of Eggs

Cuba’s cost-of-living crisis is so severe that even the country’s top and most profitable athletes cannot make ends meet. Exemplifying this, the monthly salary of a professional baseball player in the National Series — Cuba’s premier sporting event — barely covers the cost of a carton of eggs, forcing them to seek opportunities elsewhere. With the Cuban peso in freefall, several players have resigned, citing financial hardships as the reason for leaving the sport they love. Their departures reflect a broader reality: wages across Cuba fail to keep pace with severe inflation caused by the Cuban regime’s continuous economic mismanagement. The state continues to enforce wages in the collapsing peso while requiring “MLC” credits to purchase high-quality food and goods in a system that pulls in foreign exchange from abroad while stealing from citizens at home.

South Sudan | Regime Blocks Citizen Access to Social Media

In South Sudan, rebel leader Salva Kiir Mayardit directed the National Communication Authority (NCA) to block each citizen’s access to social media nationwide for up to three months, citing concerns over “public safety” and “mental health.” This decision follows violent videos of Sudanese armed forces attacking South Sudanese refugees in Sudan. Sudanese rights groups condemned the ban as a blatant act of censorship and an abuse of power. “The death of our South Sudanese in Sudan should not culminate in blocking social media, which is one of the ways many of us get information,” said one Sudanese citizen. By restricting social media, the regime demonstrates a clear willingness to silence dissent, suppress information, and stifle transparency under the guise of “protection.” As Sudanese grapple with rising prices, the ban further isolates them, leaving little room to coordinate relief efforts, share grievances, or hold those in power accountable.

RECOMMENDED CONTENT

IMF Offers a Glimpse at the Perils of Central Bank Digital Currencies by J.D. Tuccille

In this article for Reason Magazine, J.D. Tuccille examines the dangers of central bank digital currencies (CBDCs) and their implications for financial independence and privacy. Drawing from the International Monetary Fund’s (IMF) “CBDC Virtual Handbook,” Tuccille explains how CBDCs grant governments unprecedented control to monitor transactions, impose restrictions, and manipulate financial behavior. He contrasts these state-issued digital currencies with decentralized alternatives like Bitcoin, highlighting the stark differences in privacy and user freedom. You can read the complete analysis here. To learn more about CBDCs and the threats they pose to civil liberties and human rights, check out our HRF’s CBDC Tracker.

BITCOIN AND FREEDOM TECH NEWS

Super Testnet | Launches Hurricash

Bitcoin Developer Super Testnet released Hurricash, an experimental and open-source Bitcoin privacy protocol. Hurricash lets multiple users lock funds together in a single Bitcoin Unspent Transaction Output (UTXO), making their transactions more private. Users can then transact within the pool with greater efficiency and privacy. With greater liquidity and adoption, it could prove a useful tool for human rights defenders seeking financial privacy. Innovations like this could also pave the way for activists in many decades to afford trustless BTC transactions.

Zaprite | Integrates BTCPay Server

Zaprite, a platform for accepting Bitcoin payments, recently integrated BTCPay Server, an open-source Bitcoin payment processor and HRF grantee. This integration allows users to accept Bitcoin, Lightning, and fiat payments (like USD) while maintaining full control over their funds — something Zaprite couldn’t afford on its own. By connecting with BTCPay Server, users can receive Bitcoin payments directly to their own self-hosted wallet and node, reducing censorship risks and enhancing financial independence. This is valuable for nonprofits, merchants, and activists in authoritarian regimes, where governments monitor, freeze, and restrict financial activity.

Breez SDK | Implements Pay to BIP 353 Addresses

The Breez Software Development Kit (SDK), a tool for integrating self-custodial Lightning payments into apps and services, now supports payments to BIP 353 addresses. BIP 353 enables individuals with access to a domain the ability to create static, human-readable payment addresses (such as user@domain), instead of a long string of letters and numbers. This means an activist with a website can receive Bitcoin donations directly through their domain — if their wallet supports BIP 353. Several Bitcoin wallets already using the Breez SDK include Cake Wallet, Blitz Wallet, and Klever Wallet. These static addresses make receiving Bitcoin easier, more private, and more censorship resistant, reducing surveillance risks and simplifying recurring payments.

Ark Labs | Releases Wallet Software Development Kit

Ark, a protocol promising faster and cheaper transactions on Bitcoin, released a wallet software development kit (SDK). The SDK is aimed at helping developers more readily create Ark-compatible Bitcoin wallets that support both traditional Bitcoin payments and Ark’s instant transactions on mobile and desktop platforms. Protocols like Ark hold promise for greater transaction efficiency and improve its transaction capabilities for those who need it most.

Tornado Cash | US District Court Reverses Sanctions

A United States District Court ruled to reverse the sanctions on Tornado Cash, marking a major legal win for financial privacy in the digital asset space. This decision follows a previous Appeals Court ruling that found the Treasury overstepped its authority by sentencing the digital asset mixer under the International Emergency Economic Powers Act (IEEPA). The court determined that Tornado Cash’s smart contracts (self-executing lines of code) do not constitute “property,” making them ineligible for sanctions under existing laws. These rulings set a positive precedent for decentralized protocols and financial privacy in a world where these tools are desperately needed. Developers cannot work on privacy openly in dictatorships, so they need havens in liberal democracies.

OpenSats | Announces Grants for Three Bitcoin Core Contributors

OpenSats, a public nonprofit supporting open-source software and projects, announced three new grants for Bitcoin Core contributors L0rinc, kevkevin, and Daniela Brozzoni. L0rinc will improve Bitcoin Core's performance and reliability by optimizing Initial Block Download (IBD), block storage, and database functionality. Kevkevin will enhance Bitcoin Core's stability, security, and usability by fixing bugs and reviewing pull requests. Finally, Daniela will review Bitcoin Core's code, adding features and improving test coverage. HRF is pleased to see the continued support of open-source developers from this Bitcoin Development Fund grantee.

Bitcoin Chiang Mai | Bitcoin for Human Rights Meetup

Bitcoin Chiang Mai, a grassroots Bitcoin community in Thailand, will host a meetup exploring Bitcoin’s role in human rights and financial freedom on Feb. 7, 2025. HRF Global Bitcoin Adoption Fellow Win Ko Ko Aung will discuss how Bitcoin empowers activists and communities under authoritarian rule, with a particular focus on Burmese citizens. Held in Burmese and English, the event will educate attendees on Bitcoin as a tool for escaping financial repression. If you have Burmese friends in Chiang Mai, share this opportunity with them. You can register here.

RECOMMENDED CONTENT

Bitcoin and Freedom with Alex Gladstein

In a special episode of the “Money Matters” podcast, Jack Mallers, CEO of Strike, speaks with Alex Gladstein, chief strategy officer at HRF, to discuss the powerful link between Bitcoin and financial freedom. Gladstein unpacks how authoritarian regimes manipulate money to control the public and explains why open-source financial tools are critical for resisting oppression. His insights make a compelling case for financial sovereignty as a fundamental human right — and why Bitcoin remains the most effective tool to secure it.

If this article was forwarded to you and you enjoyed reading it, please consider subscribing to the Financial Freedom Report here.

Support the newsletter by donating bitcoin to HRF’s Financial Freedom program via BTCPay.\ Want to contribute to the newsletter? Submit tips, stories, news, and ideas by emailing us at ffreport @ hrf.org

The Bitcoin Development Fund (BDF) is accepting grant proposals on an ongoing basis. The Bitcoin Development Fund is looking to support Bitcoin developers, community builders, and educators. Submit proposals here.

Subscribe to newsletter

Apply for a grant

Support our work

Visit our website

Excited to join @nprofile…2sjt @nprofile…glpg for the next ...

2025-02-04T19:50:45+01:00

Excited to join Jason Maier (nprofile…2sjt) PUBKEY (nprofile…glpg) for the next HRF (nprofile…t5ph) Freedom Tech Series.

His book, "A Progressive's Case for Bitcoin," is a great intro to Bitcoin—and one I’ve gifted many times. #Bitcoin is for everyone, and Jason makes that case powerfully.

Looking forward to discussing how Bitcoin empowers the individual, advances financial inclusion and human rights, and drives meaningful social change.

Come hang out on March 6th in NYC! 🗽

quoting
nevent1q…ld7x
Coming up on Thursday, March 6th! 📣

HRF x PubKey #FreedomTech Series presents:
How #Bitcoin Brings About Social Change with Jason Maier

Jason Maier (npub1dc8…jwqd) will discuss his research and advocacy with HRF (npub17xv…c9as) Research Associate ZacG (npub1ycu…s9jh) including a focus on:

How bitcoin addresses inflation and wealth inequality, how it compares to the current financial system's effect on the world abroad and at home, and how it's being used as a tool for human rights and financial freedom.

This event is FREE and open to the public. 🙏🧡🍺
https://lu.ma/7ueaefyp

🔥

2025-01-31T23:13:02+01:00

In reply to naddr1qp…qcrd
_________________________

🔥

"It's liabilities all the way down." ...

2025-01-26T22:30:29+01:00

"It's liabilities all the way down."

LynAlden (nprofile…3tqm) on the modern financial system.

Some of us are out here building a parallel monetary system—one ...

2025-01-18T18:33:17+01:00

Some of us are out here building a parallel monetary system—one that empowers individuals, resists censorship and debasement, and protects freedom. An economy where money is a tool for liberation, not a mechanism of control.

Trump’s insider-allocated meme coin is the opposite. It’s not about freedom or sovereignty—it’s a cash grab designed to exploit those who don’t know any better.

For many of us, this came as no surprise. For those of you who genuinely thought Trump cared about financial freedom, this should be your wake-up call. His allegiance isn’t to open systems or individual sovereignty—it’s to whatever lines his pockets.

Bitcoiners should see right through the grift. The future can't be built on insider deals, centralized tokens, or political opportunism. This would be a replication of the flawed fiat system we're currently stuck in. The future is built on open, permissionless, censorship-resistant, and decentralized systems.

Stay humble and stay focused✌️

Nostr event nevent1qqsx7z7y2dg2a6qwfe93u5faj2p40t907kuva94m0p34r8ngc6eaf6szyqnrnxxm4lv9gmrsmjy36qrt2ydkcayue26wjzl03h7j8m8xhwg9gckq0q4

2024-12-20T20:26:59+01:00

I miss 58k

Tunisia continues to undermine central bank independence, India ...

2024-12-12T23:04:40+01:00

Tunisia continues to undermine central bank independence, India is pushing stringent KYC requirments of millions of citizens, and Kenya is reinstating tax measures that ignited nationwide protests earlier this year. This and more in the latest Financial Freedom Report.

quoting
naddr1qq…05ey

Good morning, readers!

This week, governments and financial institutions around the world advanced policies that amplify the divide between state interests and the daily economic realities of citizens. In Tunisia, President Kais Saied is once again turning to the nation’s central bank to repay its growing debts, a move that risks accelerating inflation, reducing citizen purchasing power, and increasing costs of living.

The Reserve Bank of India (RBI) is urging regional banks to enhance their Know-Your-Customer (KYC) procedures. This includes implementing a “re-KYC” process that requires millions of citizens to resubmit personal information. In addition, banks are gathering supplementary data, which may be used for marketing purposes and potentially other objectives.

In technology news, Eclair, an implementation of the Lightning Network, added support for BOLT 12 offers and liquidity management features such as splicing, liquidity ads, and on-the-fly funding. These make managing liquidity and using the Lightning Network more accessible and private. Meanwhile, Machankura, a custodial Lightning wallet in Africa with offline functionality for feature phones, announced the launch of a mobile application for Android users. This will bring offline Bitcoin transactions to a greater number of people across the African continent.

We end with the latest episode in the HRF x Pubkey Freedom Tech Series, featuring HRF’s Bitcoin Development Lead, Alex Li, in conversation with Bitcoin Core maintainer Gloria Zhao, on the threats facing Bitcoin, the importance of censorship-resistant payments, and her decision to pursue open-source, grant-funded development over corporate opportunities.

Now, let’s dive right in!

Subscribe Here

GLOBAL NEWS

Tunisia | Turns to Central Bank to Repay Debts

In a clear display of financial manipulation, President Kais Saied is once again turning to the central bank to repay Tunisia’s surging debt. He plans to borrow 7 billion dinars ($2.2 billion), equal to about 28% of the central bank’s foreign currency reserves. This move could increase inflation in an already struggling economy where unemployment exceeds 16%, supermarket shelves run empty, and water shortages threaten families' livelihoods. Saied’s unrelenting consolidation of power — including shutting down parliament, arresting opposition leaders, and controlling the judiciary — has stalled any meaningful way for people to push back and protest the disastrous state-led economic policies.

India | RBI Pushes Banks to Re-KYC Customers

The Reserve Bank of India is urging regional banks to carry out re-KYC (Know-Your-Customer) verifications. Stringent KYC requirements and mandatory periodic updates have caused many citizens to lose access to their bank accounts. Despite repeatedly submitting their personal information to be compliant, numerous account holders continue to be locked out due to delays, errors, and overreaching requirements. Moreover, reports indicate that banks have exploited the KYC process to collect additional data from account holders for third-party marketing.

Kenya | Reinstates Tax Measures that Ignited Nationwide Protests

Kenya’s lawmakers have reinstated controversial tax measures that previously triggered nationwide protests, claiming more than 60 lives. The National Treasury, navigating escalating debts and revenue shortfalls, repackaged the taxes into three bills approved by the National Assembly. These include higher import taxes, a “top-up” tax for multinational companies, and levies on foreign firms operating via digital platforms — all part of Kenya’s “austerity” commitments to the International Monetary Fund (IMF). The reinstatement of these taxes risks reigniting public unrest and inflation, while the growing reliance on the IMF calls into question the autonomy and financial resilience of both the government and ordinary citizens.

Vietnam | Social Media Platforms Censor Anti-State Content

Over the past year, Facebook, Google, and TikTok complied with more than 90% of the Communist Party of Vietnam’s (CPV) requests to censor over 15,000 pieces of “anti-state” content. This censorship aligns with Decree 147, a law passed by the CPV to tighten control over social networks and the Internet. Amnesty International condemned these practices as arbitrary censorship. Adding to the repression, Decree 147 requires organizations to share data with authorities without consent in situations deemed critical to “national security.” Such tactics could easily compromise activists and civil society organizations. In these environments, decentralized protocols like Nostr, which allow communication and expression beyond the reach of the state, can play a vital role in upholding citizens' right to free expression.

Cuba | Nationwide Blackout Following Grid Collapse

Last week, Cuba’s largest electricity producer failed, plunging the island nation into darkness and leaving millions without power. This exemplifies the fragility of Cuba’s electrical grid in a country already battered by currency collapse and fuel shortages. Over the past year, frequent blackouts — some lasting up to 18 hours — have made it prohibitively difficult for families to feed themselves and access basic necessities. The nationwide outage forced schools to close and halted work for millions of Cubans already struggling with food, water, and medicine shortages. While officials scramble to restore power to hospitals and water facilities, this illustrates the shortfalls of a state assuming absolute control over a critical industry, like electricity, and failing to deliver. Such failures ultimately strip citizens — already mired in crisis — of basic rights and essential services.

LATEST IN BITCOIN NEWS, DEVELOPMENT, AND COMMUNITY

Eclair | Integrates Support for BOLT 12, Splicing, Liquidity Ads, and On-The-Fly Funding

Eclair, a Lightning Network implementation developed by ACINQ (the team behind Phoenix Wallet and phoenixd), introduced support for BOLT 12 offers and a host of liquidity management features, including splicing, liquidity ads, and on-the-fly funding. BOLT 12 offers increased receiver privacy and censorship resistance when making payments (as well as helping people receive payments via a static QR code or alphanumeric address), while splicing enables the adjustment of payment channels without interrupting ongoing transactions. Further, liquidity ads and on-the-fly funding make it possible for nodes to buy or sell liquidity when making payments on the Lightning Network. These features improve how people send and receive Bitcoin and manage liquidity when using applications and wallets built with Eclair.

Machankura | Launches Android App

Machankura, a custodial Lightning wallet in Africa with offline functionality for feature phones, announced the launch of a mobile application for Android. Leveraging the Unstructured Supplementary Service Data (USSD) protocol for sending text messages, Machankura enables Africans to access the Bitcoin network simply by dialing a designated number on a feature phone (or a smartphone without data), facilitating Bitcoin transactions without the need for an Internet connection. Launching a mobile app will make offline Bitcoin transactions available to more individuals, helping democratize Bitcoin access and unlock the full potential of censorship-resistant money across Africa.

Lark | New Command Line Application for USB Hardware Wallets

Lark is a new command-line application built by Craig Raw, the creator of Sparrow Wallet, designed to interact with USB hardware wallets such as COLDCARD, Ledger, and Trezor. It serves as an alternative to the widely used HWI (Hardware Wallet Interface) software library, providing users with a second option to interact with their USB hardware wallets. By improving the resilience of the Bitcoin hardware wallet ecosystem, Lark helps advance financial autonomy and censorship resistance.

WabiSabi | Major Vulnerability in Coinjoin Protocol

The Rage, an independent news publication exposing the risks of financial surveillance, disclosed a major vulnerability in the WabiSabi coinjoin protocol that allows malicious coordinators to compromise user privacy by deanonymizing transactions. Coinjoin is a privacy-enhancing method that combines multiple Bitcoin transactions into one, making it harder to trace individual payments. The vulnerability, which affects popular tools and wallets like Wasabi Wallet, Ginger Wallet, and BTCPay Server’s coinjoin plugin, enables malicious actors to link inputs and outputs during a transaction and expose user financial activity. Developers have released updates to fix the issue, and users are urged to upgrade immediately. Learn more here.

OpenSats | Renews Grants for Open Source Bitcoin Projects

OpenSats, a public nonprofit funding free and open-source Bitcoin software and projects, renewed grants for nine crucial Bitcoin projects that are expanding financial freedom around the world. Among the recipients is BTCPay Server, an open-source and non-custodial Bitcoin payment processor that enables businesses and nonprofits to easily accept Bitcoin payments. Stratum V2, a protocol that decentralizes Bitcoin mining by enabling nodes to construct their own block templates, also received funding, as well as BitAxe, a project building open-source Bitcoin mining hardware to empower individual miners.

RECOMMENDED CONTENT

HRF x Pubkey — Shadowy Superheroes: How Bitcoin Core Developers Keep Freedom Money Alive

In the latest HRF x Pubkey Freedom Tech Series, HRF’s Bitcoin Development Lead, Alex Li, sits down for a fireside conversation with Bitcoin Core maintainer Gloria Zhao. Together, they discuss the crucial role of censorship-resistant payments in preserving financial freedom and the challenges Bitcoin faces in a world increasingly hostile toward decentralized systems. Zhao shares her journey of choosing open-source, grant-funded development over corporate opportunities, showcasing her commitment to keeping Bitcoin permissionless, secure, and free from centralized control. Listen to the full conversation here.

Downgrading the Bank Secrecy Act is a Powerful Reform for Bitcoin by Yaël

Ossowski

In this article for the Bitcoin Policy Institute, Yaël Ossowski reveals how policies like the Bank Secrecy Act (BSA) impose financial surveillance that stifles innovation, erodes citizens’ privacy, and impacts Bitcoin’s potential as a tool for financial freedom. Highlighting enforcement actions against non-custodial Bitcoin tools and privacy software, the article makes a compelling case for the growing threat current regulations pose to decentralized and privacy-centric technologies. This is a helpful article for anyone seeking to understand the nuanced nature of financial privacy. You can read it here.

If this article was forwarded to you and you enjoyed reading it, please consider subscribing to the Financial Freedom Report here.

Support the newsletter by donating bitcoin to HRF’s Financial Freedom program via BTCPay.

Want to contribute to the newsletter? Submit tips, stories, news, and ideas by emailing us at ffreport @ hrf.org

The Bitcoin Development Fund (BDF) is accepting grant proposals on an ongoing basis. The Bitcoin Development Fund is looking to support Bitcoin developers, community builders, and educators. Submit proposals here.

Subscribe to newsletter

Apply for a grant

Support our work

Visit our website

#Bitcoin is now worth over $103k USD, pushing it's market cap ...

2024-12-05T16:24:02+01:00

#Bitcoin is now worth over $103k USD, pushing it's market cap to a fresh high of $2 trillion.

We are now only $107 billion from overtaking Google as the world's 6th largest asset.

The latest Financial Freedom Report is now live on Nostr! ...

2024-12-05T16:14:20+01:00

The latest Financial Freedom Report is now live on Nostr!

quoting
nevent1q…72fl
Happy 100k everyone!

This week's Financial Freedom Report #52 is now live on Nostr and features the following in Global News:

-Thailand | Begins Second Phase of CBDC Handout
-Brazil | Proposes Ban on Transferring Stablecoins to Self-Custody
-China | Prepares for Sanctions While Eyeing Taiwan

In Bitcoin News:

-Tornado Cash | Fifth Circuit Court Lifts Sanctions
-Robosats | Shared Nostr Order Book With LNP2Bot
-Primal | Releases Version 2.0

Plus, the latest installment of the HRF x PUBKEY (npub1key…lt3h) Freedom Tech Series featuring Jorge Jraissati discussing the state of freedom technologies like Bitcoin in Venezuela following Maduro’s stolen election earlier this year.

naddr1qv…62kc

Financial Freedom Report #51 posted natively on Nostr for the ...

2024-11-28T21:36:21+01:00

Financial Freedom Report #51 posted natively on Nostr for the first time.

Happy Thanksgiving everyone!

quoting
naddr1qq…wu2p

Good morning, readers!

In Turkey, through years of double-digit inflation, the state has eroded the value of the country’s largest banknote, the 200-lira bill, whose purchasing power has plummeted from $140 in 2010 to just $5.80 today. In scenes reminiscent of many other authoritarian states, banks and ATM providers are adjusting their business practices to adapt to the sheer volume of cash needed for purchases. Some branches are refilling tellers up to three times a day, and ATMs are increasing withdrawal limits while phasing out support for low-denomination notes. President Recep Tayyip Erdogan’s policies have only diminished citizens’ purchasing power, reminiscent of Turkey’s runaway inflation in the 1990s.

Meanwhile, in Nicaragua, journalist Elsbeth D’Anda was arrested by Daniel Ortega’s regime for speaking out about the rising cost of living in the country on his television broadcast. Officials stormed his home, confiscated all his broadcasting equipment, and sent him to the infamous El Chipote prison. This is a sobering reminder of the lengths Ortega’s regime will take to silence dissent or criticism.

On the open-source technology front, two new Bitcoin wallets were released this week. StashPay, a new Bitcoin and Lightning wallet, was released as an APK for Android and via Testflight for iOS. It leverages the Lightning and Liquid protocols, offering fast and low-cost transactions for users without dependence on centralized app stores. Additionally, Unify, a Bitcoin Payjoin wallet, is now available for testing. It leverages Nostr and Bitcoin Core and offers more private transactions by using Payjoins, which obscure transaction activity by enabling users to make collaborative payments.

We end with a tutorial from Bitcoin educator Ben Perrin (BTC Sessions), covering how to accept Bitcoin payments in a non-custodial way using BTCPay Server. This is a valuable tutorial for activists and nonprofits seeking to receive Bitcoin donations without fear of censorship or confiscation.

On this Thanksgiving, we are very grateful that you take the time to read this newsletter, and look forward to continuing to publish stories that matter in the world of financial freedom as we move to the close of the year and beyond.

Now, let’s dive right in!

Subscribe Here

GLOBAL NEWS

Turkey | Lira Banknotes Stripped of Value

In Turkey, after years of state-driven double-digit inflation, the purchasing power of its largest banknote has collapsed. The 200 lira note, once worth $140 in 2010, is worth just $5.80 today. This depreciation makes the note increasingly impractical for daily expenses, as it is barely enough for two cups of coffee. Additionally, smaller denomination banknotes are so unsuitable for daily expenses that they have essentially become scraps, as 200 lira notes make up 80% of all cash in circulation (up from 16% in 2020). In a cash-centric country like Turkey, some bank branches now need to refill their tellers three times a day, while ATMs are increasing withdrawal limits and are expected to stop offering notes below 100 lira. This financial strain is reminiscent of the 1990s, when runaway inflation devastated citizens’ savings and forced the Turkish government to remove six zeros from the currency in order to create the Turkish lira used today.

Nicaragua | Journalist Arrested for Criticizing Rising Cost of Living

The National Police arrested Nicaraguan journalist Elsbeth D’Anda last month for criticizing the rising cost of living on his television program La Cobertura. The regime loyalists deployed 20 officers and detained D’Anda at his home, confiscating his equipment before taking him to the notorious El Chipote prison. Several press freedom organizations have condemned the arbitrary detention as an attack on free expression. This arrest is the latest addition to a series of repressive measures by the Sandinista regime, which has crushed independent media through shutdowns, exiles, intimidations, and persecutions.

China | Expels Former Head of CBDC Project

The Chinese Communist Party (CCP) expelled Yao Qian, the former head of China’s central bank digital currency (CBDC) project, from his government position over allegations of corruption. Accused of accepting bribes in the form of digital assets, real estate, and luxury goods, Yao reportedly abused his role to favor specific technology providers for personal gain. His removal draws attention to the questionable governance of China’s CBDC, which already faces extensive criticisms regarding privacy and censorship. Qian’s case accentuates the risks of centralized systems, where unchecked power can foster corruption. As China advances its CBDC for cross-border transactions, this case foreshadows the broader implications of centrally controlled money in the hands of authoritarian regimes.

Russia | ‘War Economy’ Causing Inflation in Essential Items

As Russia continues its affront on Ukraine, its economy is experiencing a sharp rise in the prices of essential goods, leaving everyday citizens grappling with an escalating cost of living. Putin’s record defense spending, set to hit $138 billion in next year’s budget, has pushed inflation to 8.5%, with goods like butter rising as much as 26%. “You can’t fight inflation and a war at the same time,” says Alexandra Prokopenko, a fellow at the Carnegie Russia Eurasia Center in Berlin. Meanwhile, the regime is cracking down on alternative assets, banning Bitcoin mining in several regions, including Siberia and occupied territories of Ukraine, leaving fewer options for citizens to protect their savings and autonomy.

DR Congo | Proposed Constitution Change Prompts Outcry

In the DRC, opposition leaders are mobilizing nationwide protests against President Felix Tshisekedi’s plan to draft a new constitution, fearing it will extend presidential term limits and erode other democratic processes. Tshisekedi openly criticizes the constitution as outdated and obstructive to his governance, while opposition figures argue it prevents authoritarianism and ensures peaceful transitions of power. Concerns over constitutional changes are not unfounded in a country with pervasive repression and censorship. The DRC has laws restricting freedom of expression, such as banning government criticism in songs. It also uses financial policies like limiting electronic payments to Congolese francs to prop up its currency. With more than 25 million people facing food insecurity and economic freedom ranking among the lowest globally, Tshisekedi’s plan will only further entrench authoritarian rule at the expense of citizens’ rights.

LATEST IN BITCOIN NEWS, DEVELOPMENT, AND COMMUNITY

Unify | New Payjoin Wallet

Unify, a new Payjoin wallet that provides privacy for users when making Bitcoin payments, has been released and is now available for testing. Payjoins obscure individual transaction histories by enabling multiple parties to make collaborative payments. This functionality is especially crucial for individuals navigating repressive regimes, where financial privacy is paramount for their safety. The wallet also plans to add support for Silent Payments in the future. Unify is still in its early stages of development, making it suitable only for test funds. Still, it is a promising development to help make Bitcoin more private by default. You can test the wallet out here.

StashPay | New Lightning and Liquid Wallet

StashPay, a new self-custody Bitcoin wallet, is now available for download as an APK on Android and iOS via Testflight. It leverages the Lightning and Liquid Networks and offers comparatively low fees and fast transactions. StashPay also reduces the risks associated with centralized app stores removing the wallet by offering the APK. Future updates will include offline receive and Lightning address support. You can test the wallet here.

NDK | Launches Mobile Nostr Development Kit

A mobile version of the Nostr Development Kit (NDK Mobile) has been released by P It is designed to simplify the creation of Nostr applications on mobile platforms by providing developers with the tools needed to build them. This will help strengthen the overall Nostr ecosystem, improve accessibility, and bring Nostr to a wider audience, helping provide more options for developers hoping to build alternatives to today’s state- and corporate controlled social media networks. You can view the full release notes here.

Libréria de Satoshi | Concludes Bitcoin 4 Open Source (B4OS) Residency

Libréria de Satoshi, a Bitcoin technical educational initiative and HRF grantee, successfully wrapped up its Bitcoin 4 Open Source (B4OS) Residency, a six-month technical training program led by 15 Spanish developers that emphasizes the vital role of censorship-resistant technologies in preserving financial freedom and human rights. The program culminated in a two-week residency in Buenos Aires, where 20 students had the opportunity to participate in and advance critical open-source projects like Bitcoin Core, Mostro, SeedSigner, Fedimint, and Cashu.

Blockchain Commons | Hosting FROST Developer Meeting

Blockchain Commons, an HRF grantee advancing secure and open Bitcoin development, will host a Flexible Round-Optimized Schnorr Threshold Signatures (FROST) developer meeting on Dec. 4. FROST is a next-generation multisignature system that brings privacy and scalability benefits to Bitcoin without requiring a fork. The event invites developers interested in incorporating FROST into their wallets and applications to attend. They will learn why FROST is important, the advantages it carries, and gain insights from real-world implementations of FROST. HRF is pleased to see a hands-on opportunity for developers to learn, collaborate, and leverage FROST to strengthen their projects' security and privacy. You can learn more about the meeting here.

OpenSats | Announces Third Round of Bitcoin Education Grants

OpenSats, a public nonprofit funding free and open-source software and projects, announced its third wave of Bitcoin education grants, supporting global initiatives that make Bitcoin education more accessible and impactful. Among the recipients is Yes Bitcoin Haiti, a Bitcoin circular economy in Haiti that hosts educational workshops, onboards merchants, and has a Bitcoin Diploma program for students in underserved communities. Another grantee, Bitcoin 4all, delivers fundamental Bitcoin knowledge through short digestible videos in English, Spanish, and Portuguese, helping empower those across Latin America with the information they need to reclaim their financial freedom. It is great to see continued support for Bitcoin education.

RECOMMENDED CONTENT

How To Accept Bitcoin Payments: BTCpay Server by Ben Perrin

Bitcoin educator Ben Perrin (BTC Sessions) released a new tutorial demonstrating how to accept Bitcoin payments in a non-custodial way using BTCPay Server. The guide shows how to set up the open-source payment solution on a virtual private server (VPS), allowing users to retain full control of their funds. This step-by-step tutorial is an essential resource for activists who need to better protect their financial privacy and ensure their donations are free from government interference or censorship. Watch the full tutorial here.

Scaling Bitcoin Practically With Ark Labs by Frank Corva

In his latest article, journalist Frank Corva interviews Marco Agentieri of Ark Labs about their mission to help scale the Bitcoin network with Ark, a second-layer payments protocol promising faster and cheaper transactions. Argentieri discusses Ark’s potential to drive everyday payments with Bitcoin and enable users to earn interest (from transaction fees) for acting as a liquidity provider on the Ark protocol, which essentially creates “pools” of Bitcoin liquidity where users can make faster, cheaper, and more private payments — while making a variety of other tradeoffs, including that users’ funds “expire” if not moved before a certain period of time has elapsed. You can read the full interview and learn more about Ark here.

If this email was forwarded to you and you enjoyed reading it, please consider subscribing to the Financial Freedom Report here.

Support the newsletter by donating bitcoin to HRF’s Financial Freedom program via BTCPay.

Want to contribute to the newsletter? Submit tips, stories, news, and ideas by emailing us at ffreport @ hrf.org

The Bitcoin Development Fund (BDF) is accepting grant proposals on an ongoing basis. The Bitcoin Development Fund is looking to support Bitcoin developers, community builders, and educators. Submit proposals here.

Subscribe to newsletter

Apply for a grant

Support our work

Visit our website

Looking forward to this one! Join us tonight at Pubkey in NYC🗽 ...

2024-10-10T19:35:27+02:00

Looking forward to this one! Join us tonight at Pubkey in NYC🗽

quoting
nevent1q…ncjf
Welcome to Thursday! #FreedomTech with HRF (npub17xv…c9as) is today.

POWERING FREEDOM:
How Bitcoin Mining can Advance Human Rights 🧡⛏️✊
with thetrocro (npub1n3s…te5l) and ZacG (npub1ycu…s9jh)

4:30pm Spaces / 6pm Live event at the tavern 👇

https://www.meetup.com/pubkey-meetups/events/303081852/

Will do!

2024-09-26T22:21:43+02:00

In reply to nevent1q…kxt6
_________________________

Will do!

I like to expirement! I use Amethyst on mobile, but I am also a ...

2024-09-26T20:17:04+02:00

In reply to nevent1q…kuc9
_________________________

I like to expirement! I use Amethyst on mobile, but I am also a big fan of Primal.

Thank you Dan!

2024-09-26T18:16:49+02:00

In reply to nevent1q…xgqy
_________________________

Thank you Dan!

Subscribe to the Financial Freedom Report and get all the latest ...

2024-07-25T17:44:35+02:00

Subscribe to the Financial Freedom Report and get all the latest news at the intersection of #Bitcoin and human rights!

quoting
nevent1q…jt3x
Good morning, and welcome to HRF on nostr. We are thrilled to be here!

Each week, we'll circulate our weekly newsletter, the Financial Freedom Report, to help you stay informed about the latest news on financial repression around the world. We’ll also highlight the latest developments in the Bitcoin space. You won’t want to miss it.

Read our latest newsletter here: https://hrf.org/topic/financial-freedom/

Subscribe to the Financial Freedom Report here: http://financialfreedomreport.org/

🔥

2024-07-25T17:14:54+02:00

In reply to nevent1q…8st3
_________________________

🔥

Taylor Swift Super Bowl is exactly what we need.

2024-01-31T01:09:32+01:00

In reply to nevent1q…wc06
_________________________

Taylor Swift Super Bowl is exactly what we need.

Do you still think #Bitcoin is a volatile, environmentally ...

2023-10-31T19:34:17+01:00

Do you still think #Bitcoin is a volatile, environmentally damaging, Ponzi-bubble lacking intrinsic value?

If so, this episode is for you.

Join Bram and I as we break down prevalent misconceptions about #Bitcoin    showing that it's not a simple black-and-white matter.

https://youtu.be/JR9Tr7TE1Mg?si=SytcVJ0kwBIEEbMd

My latest article for Theya (YC) is now live and covers recent ...

2023-10-13T01:39:26+02:00

My latest article for Theya (YC) is now live and covers recent turbulence in U.S. Treasury Markets.

After a relatively stable decade, yields on 10-Year Treasury Bonds soared to 4.88% last week, marking a 16 year high.

A confluence of factors—Federal Reserve Policy decisions, mounting concerns surrounding U.S. debt and deficits, and the forthcoming issuance of fresh treasuries—are all playing a part.

Should yields on 10-Year Treasuries push above 5%, it makes the onset of a recession all the more likely.

Do you think yields will continue their ascent? Let me know in the comments below 👇

https://blog.theya.us/turbulence-in-u-s-treasury-markets-q3-2023/

A few weeks ago, I finished reading Ray Dalio's book "The ...

2023-09-27T22:07:12+02:00

A few weeks ago, I finished reading Ray Dalio's book "The Changing World Order" which offers a comprehensive analysis of global economic and political dynamics. While the book is well written and offers key insights on the current state of the world, I couldnt help feeling like something was missing.

Most notably, an analysis of #Bitcoin and it's potential impact on the evolving world order is completely absent. This omissions can be seen as a significant flaw in his analysis for several reasons 🧵👇

Firstly, #Bitcoin represents a shift in the traditional financial paradigm. Dalio explains the historical rise and fall of nations and emphasizes the importance of economic systems and currency dynamics, but doesn't recognize Bitcoin as a decentralized digital currency that challenges the very foundation of these systems. Bitcoin's adoption have the potential to reshape the global financial landscape and the economic systems we use, making it an important factor to consider when discussing changing world orders.

Dalio also highlights the vulnerability of fiat currencies to devaluation from excessive money printing. He emphasizes the impact of currency devaluation on a nations economic stability, and how hard money provides the stability needed to emerge as a world power, yet neglects to mention #Bitcoin as a hedge against debasement due to it's limited supply of 21 million coins.

#Bitcoin could theoretically provide a neutral global reserve currency that cannot suffer debasement and thus can stand the test of time. In this way, Bitcoin has the potential to break the cycle of monetary crises stemming from currency debasement that have plagued nations through history.

Bitcoin's potential also extends beyond finance. It is a technology that enables borderless transactions, financial inclusion, censorship resistance, and wealth preservation. These characteristics give #Bitcoin the potential to disrupt traditional power structures, empower individuals, reshape global trade and redefine how we interact in the digital economy. Ignoring Bitcoin's impact is to overlook an important factor that can disrupt current power dynamics.

In the book, Ray Dalio details the transitions of power between geographic nations who in turn become the global reserve currency and financial hub of the world. An important detail to consider is that the emergence of #Bitcoin could mean that the next world order is not based on a geographic country but rather a collection of individuals, firms, and countries. This new paradigm would mean economic power is not tied to a specific nation state but rather a collective of those who chose to adopt #Bitcoin first.

While Dalio's book offers very valuable insights and historical context on how the world has worked, it's omission of #Bitcoin results in a notable limitation of his theory on repeating cycles of changing world orders. Understanding the emergence and potential of #Bitcoin as a globally accessible and neutral currency, it's ability to reshape power structures and geopolitical dynamics, and empower those who adopt it first are crucial to understand the dynamics at play in the 21st century.

I highly recommend reading Dalio's book, however, as you make your way through it, be sure to think critically about how #Bitcoin can fit into the changing world order we're currently experiencing.

Gary Gensler, head of the SEC, is secretly a #Bitcoin Maximalist ...

2023-09-23T00:55:22+02:00

Gary Gensler, head of the SEC, is secretly a #Bitcoin Maximalist 🧵

Don't believe me? Read on👇

Not many people know this, but during his time at MIT, Gensler's fascination with #Bitcoin was ignited as he taught a course on blockchain and money. Little did he know that this was the start of a hidden journey into the heart of #Bitcoin. He immersed himself in the intricacies of Bitcoin, recognizing its potential to disrupt traditional finance and empower individuals.

As he rose to the position of SEC chairman, Gensler found himself in a delicate position. He couldn't openly champion #Bitcoin maximalism due to his regulatory responsibilities, but he couldn't abandon his beliefs either. His regulatory decisions, such as clarifying that #bitcoin is the only commodity among cryptos, were part of a covert mission to advance the cause of #Bitcoin while condemning altcoins as unregistered securities.

One particularly intriguing aspect of Gensler's actions is his reluctance to approve a #Bitcoin spot ETF. But, when you think about it, it all starts to make sense. He's not obstructing progress; he's ensuring that individuals have a fair chance to accumulate #Bitcoin before institutions dominate the market. He also understands the importance of self custody in #Bitcoin and would rather individuals take full control over their funds rather than own paper Bitcoin.

Gensler knows that institutions could flood the market if an ETF we're approved, driving up Bitcoin's price. By delaying the ETF approval, he's providing a window of opportunity for retail investors to accumulate #Bitcoin at more accessible prices, preserving the democratic and decentralized nature of Bitcoin.

In conclusion, Gary Gensler's covert journey from MIT professor to SEC chairman was driven by a hidden passion for #Bitcoin maximalism. His actions as a regulator, while enigmatic, are guided by a desire to protect the interests of everyday Bitcoiners and individuals, and allow them to participate in the #Bitcoin revolution before institutions do.

Is #Bitcoin a Public Good? In economics, a public good is defined ...

2023-09-18T20:32:42+02:00

Is #Bitcoin a Public Good?

In economics, a public good is defined as a good that is both non-excludable and non-rivalrous.

For a good to be non-excludable, it must be very difficult or impossible to exclude individuals from using it.

Bitcoin tends to fit this definition quite well, as it is one of the most accessible goods in the world. Anyone can participate in the Bitcoin network and use it for transactions or other purposes without needing permission, and it's challenging to prevent someone from downloading a Bitcoin wallet and acquiring some Bitcoin.

While technically it is not accessible by everyone due to availability and regulations of on/off ramps and internet availability #bitcoin more or less fits this definition.

For a good to be non-rivalrous, one individuals usage of the good cannot reduce its availability for others.

Once again #Bitcoin fits this definition quite well. Bitcoin, it is non-rivalrous to the extent that one person holding and using Bitcoin does not inherently reduce its availability for others. The blockchain technology underlying Bitcoin allows multiple users to transact simultaneously without significantly affecting each other's ability to use it. Bitcoin's divisibility also ensures there are more than enough satoshis to go around.

While one could argue increased fees in blockspace could lead to exclusion of some individuals, layer 2 protocols like the Lightning Network address these concerns quite well.

Overall, I think it's clear #Bitcoin is more a public good than it is not, especially when you consider it's truly global and decentralized nature alongside it's non-excludability and non-rivalrous attributes.

While it may not fit the definition perfectly, I think this points to the fact that #Bitcoin is fundamentally unique and novel. Many established definitions and concepts within economics and beyond struggle to encapsulate the groundbreaking essence that Bitcoin brings to the table.

Do you think #Bitcoin is a public good?

As we enter the latter half of 2023, debates surrounding the ...

2023-08-15T23:47:37+02:00

As we enter the latter half of 2023, debates surrounding the possibility of a recession are only increasing.

In my latest article, I break down 7 key economic indicators hinting towards a slowing economy 🧵👇

1️⃣ Yield Curve Inversions have been a very reliable indicator of a slowing economy. In fact, since 1969 a yield curve inversion has preceded every US recession. In June of 2022 the 10yr and 2yr Treasury yields inverted begging the question—where is the recession?

2️⃣ Large Bank Failures since the Great Financial Crisis in the fall of 2008 echoes historical precedence and highlights vulnerability in the financial structure. It was 6 months after the failure of Bear Sterns in March of 2008 before the recession arrived in full force—could history repeat itself?

3️⃣ One of the Fastest Interest Rate Hike in US History has pushed the federal funds rate to decade highs and imposed higher borrowing costs of individuals and businesses alike. The economy may face potential headwinds in adjusting to tighter credit conditions.

4️⃣ The tendency for the Unemployment Rate to bottom before a recession raises questions about our currently low unemployment rate. While it may seem positive on the surface it could mask underlying weakness in the economy that manifests as the recession unfolds.

5️⃣ A Declining Purchasing Managers Index (PMI) suggests a contraction in the manufacturing and services industry and has served as an early warning sign of impending recessions many times. This worrying trend may further contribute to a slowing economy.

6️⃣ Tightening Credit Conditions from aggressive interest rate hikes are reaching levels not seen since the Great Financial Crisis in 2008 and a fall in commercial loans has been evident. While tightnening credit itself does not predict a recession, it's correlation with economic downturns should not be ignored.

7️⃣ The Fed Predicting a Mild Recession adds further credibility to the possibility of a recession on the horizon. As the central banks responsible for guiding policy their awareness of the risks speaks heavily to the possibility of a slowing economy.

Together these indicators paint a clear picture of economic challenges ahead. While the exact timing and severity of a recession is difficult to predict, it is crucial to remain aware of the risks we face.

Check out my full article for an in-depth analysis of these economic indicators and what it means for the economy.

https://open.substack.com/pub/zacguignard/p/2023-macro-outlook-7-signs-of-a-looming?utm_source=share&utm_medium=android&r=26emfn

⚠️2023 #Macro Outlook⚠️ Contrary to the appearance of a ...

2023-08-15T22:00:53+02:00

⚠️2023 #Macro Outlook⚠️

Contrary to the appearance of a new bull market, we're actually witnessing the most remarkable bear market rally ever.

In my latest article, I uncover 7 key #economic indicators pointing to an impending #recession 👇

https://open.substack.com/pub/zacguignard/p/2023-macro-outlook-7-signs-of-a-looming?utm_source=share&utm_medium=android&r=26emfn

Since 1971 and the abandonment of the #Gold Standard... 📈 US ...

2023-07-18T19:07:41+02:00

Since 1971 and the abandonment of the #Gold Standard...

📈 US M2 increased over 3,150%
🏠 US home prices surged over 1,850%
📊 S&P 500 returned over 20,000%
🥇 Gold returned over 5,150%

In my latest article I review how decades of loose monetary policy have contributed to the everything bubble and explore how #Bitcoin stands ready to absorb the monetary premiums that have built up in assets over decades of monetary manipulation.

https://open.substack.com/pub/zacguignard/p/bitcoins-role-in-deflating-the-everything?utm_source=share&utm_medium=android&r=26emfn

Bitcoin is a Ponzi scheme Bitcoin is too volatile Bitcoin has no ...

2023-06-16T22:41:11+02:00

Bitcoin is a Ponzi scheme
Bitcoin is too volatile
Bitcoin has no intrinsic value
Bitcoin is only used by criminals
Bitcoin will be hacked
Bitcoin is bad for the environment
Bitcoin is a bubble

Actually,

#Bitcoin is the most misunderstood technology of our time.

My latest article addresses these common misconceptions and provides key facts to help uncover the legitimacy of these claims.

https://open.substack.com/pub/zacguignard/p/bitcoin-myths?utm_source=share&utm_medium=android&r=26emfn

Have you heard of the Japanese real estate bubble in the late ...

2023-06-10T00:13:03+02:00

Have you heard of the Japanese real estate bubble in the late 1980s? It was an unprecedented speculative frenzy. Prices soared, fueled by easy credit and rampant investor speculation. Japan seemed unstoppable, but little did they know what awaited them👇

In the early 1990s, disaster struck. The bubble burst, causing a devastating collapse in real estate and stock prices. The trigger was monetary tightening policies implemented by the Bank of Japan to curb inflation. The effects were far-reaching.

Property values plummeted, leaving investors and financial institutions with enormous losses. The country entered a prolonged period of economic contraction known as the "Lost Decade." Low growth, high unemployment, and stagnant wages became the new normal.

The bursting bubble exposed the vulnerabilities of Japanese banks. They had heavily invested in speculative real estate loans and faced insolvency as asset values tanked. Government intervention was required to stabilize the banking sector.

Now, let's shift our focus to Canada. While it's a different country and time, there are notable parallels. Canada currently faces a private debt situation that bears some resemblance to Japan's bubble era.

Canadian households have accumulated significant debt, driven by low interest rates and easy access to credit. This debt is primarily concentrated in mortgages, similar to how Japanese investors flocked to real estate investments during their bubble.

If there's a sudden shock to the Canadian economy, such as a sharp rise in interest rates or a housing market correction, the private debt burden could become a ticking time bomb. Just as in Japan, the bursting of the bubble could have severe consequences.

Fast forward to today, and we're witnessing interest rates rise at an unprecedented pace. The Bank of Canada recently raised rates by 25 basis points, despite Canada's private debt-to-GDP ratio surpassing 230%. This is even higher than Japan's peak during their bubble.

What does this all mean? While the exact consequences are uncertain, it's crucial to note the eerie similarities between Canada now and Japan during their bubble's peak in the 1990s. Both countries exhibit high levels of private debt and face tightening monetary policies.

If the Canadian housing market corrects due to interest rates surging rapidly, it could potentially trigger a similar chain of events as Japan experienced. High private debt burdens become unsustainable, asset values decline, and the economy faces significant headwinds.

What do you think happens next?

Everytime I get zapped I'm reminded of how much better nostr ...

2023-06-03T01:21:57+02:00

Everytime I get zapped I'm reminded of how much better nostr is than twitter.

Just finished writing a midterm exam for econ. Imagine my ...

2023-06-03T01:15:23+02:00

Just finished writing a midterm exam for econ.

Imagine my surprise when I flipped the page and encountered a question asking me to make the case for #Bitcoin as money.

That's ~60 econ students who had to ask themselves today, IS bitcoin money? Bound to get some people thinking.

$305 trillion in global debt, but what have we truly gained? 📚 ...

2023-06-01T22:21:27+02:00

$305 trillion in global debt, but what have we truly gained?

📚 Have we increased access to quality education for all?
⚖️ Is there a fair and just global economic system?
🍽️ Does everyone have access to food and water?
☮️ Is global peace a reality?
🌍 What about the state of our environment?
💰 Are wealth disparities narrowing?
👩‍⚕️ Has healthcare become more accessible and affordable?
🌐 Is internet access widespread and affordable?
👥 Are human rights respected and protected?
🛣️ Are our roads in better condition?
💡 Has innovation thrived?
🚀 How far have we advanced in interplanetary travel?

In my latest article, I delve into the crucial subject of federal ...

2023-05-22T17:37:18+02:00

In my latest article, I delve into the crucial subject of federal debt, exploring its nature and the factors contributing to its significant growth over the past few decades. By establishing a connection between debt and inflation, I aim to highlight the inherent inflationary nature and long-term unsustainability of an economic system reliant on perpetual debt accumulation.

I invite you to read the article below to gain a comprehensive understanding of this complex issue👇

https://open.substack.com/pub/zacguignard/p/decoding-the-trifecta-debt-money?utm_source=share&utm_medium=android

Excited to share my recent interview with PlebUnderground and ...

2023-05-11T00:23:51+02:00

Excited to share my recent interview with PlebUnderground and DNComply where I discuss my experience as president of a university #Bitcoin club and the role university clubs play in promoting Bitcoin education and awareness.

I first discovered Bitcoin during the pandemic. As an economics major I was instantly fascinated by the idea of a decentralized, peer to peer currency with a fixed supply. I became convinced that Bitcoin is one of the most important innovations of our time. This inspired me to become president of the club.

Our clubs main goal is to offer an open space for discussion and education about Bitcoin. We want to provide the necessary tools to help people better understand and study Bitcoin, and to start as many conversations surrounding Bitcoin as we can.

By bringing together students, academics, and industry experts Bitcoin clubs can deepen our collective understanding of Bitcoin and speed us towards hyperbitcoinization.

If you're currently enrolled in university and are interested in starting a Bitcoin club, make sure to gain a strong understanding of the topic, host regular events and collaborate with other clubs. I highly encourage anyone in university to consider starting a Bitcoin club. Together we can make the world a better place!

Check out the full interview below to learn more about my journey with Bitcoin, my role as president and the importance of university clubs in promoting Bitcoin education and awareness.👇

https://open.substack.com/pub/plebunderground/p/how-and-why-to-start-a-university?utm_source=share&utm_medium=android

3 things I've learned as president of a university #Bitcoin ...

2023-04-05T20:18:58+02:00

3 things I've learned as president of a university #Bitcoin club👇

1️⃣ Bitcoin is still crypto in the minds of the masses. We have yet to reach an inflection point where it's widely understood that bitcoin is fundamentally different from the array of "cryptocurrencies" that have come after it. Education will play a key role here.

2️⃣ Increased Bitcoin education is critical for mass adoption. We are currently in a stage where everyone has heard of bitcoin but very few actually understand it. This has led to bitcoin being widely misunderstood.

The good news is people are hungry for information. Therefore, bitcoin education could not be more important than it is today. If you're on the fence about starting some form of btc education, whether a website, writing, or speaking, just do it! Your work will be appreciated.

3️⃣ We are fighting an information war with mainstream media. Most people are still rife with misconceptions about scalability, environmental implications, etc. This is an uphill battle. If bitcoin is to succeed, each of us will need to do our part to make that future a reality.

What is the broken window fallacy? First coined by French ...

2023-03-30T20:13:55+02:00

What is the broken window fallacy?

First coined by French economist Frédéric Bastiat in 1850, this is one of the most common fallacies in economics and is still incredibly relevant today as most policy decisions are made with no regard to opportunity costs👇

Suppose you are the owner of a bakery, one day someone throws a rock through your front window and it shatters.

The broken window fallacy mistakenly believes that this damage to property will result in positive economic effects by creating jobs and stimulating economic growth.

This assumption is flawed because it ignores the opportunity cost of repairing the broken window. The money you must now spend to repair your window is exactly how much less money you now have to spend on anything else such as buying other goods or investing in new technologies.

As such, the economic activity generated by fixing the broken window is completely offset by the economic activity that could have been generated had the window not been broken in the first place.

The net effect is that the economy is just as well off as it was before.

This fallacy highlights the importance of understanding and considering the opportunity cost of all actions, especially when involving policy, business, and environmental decisions.

I am very excited to announce that I am starting a newsletter ...

2023-03-14T19:41:08+01:00

I am very excited to announce that I am starting a newsletter where I will be publishing articles on Bitcoin and Economics!

My first article "Why Bitcoin?" is now available and focuses on the importance of Bitcoin in the 21st century👇

https://zacguignard.substack.com/p/why-bitcoin?utm_source=twitter&sd=pf

It's simple really, Your savings account shouldn't be ...

2023-03-08T00:12:31+01:00

It's simple really,

Your savings account shouldn't be someone else's liability.

Opt out with Bitcoin.

5 Key Pillars of Austrian Economics 👇🧵 1️⃣Subjectivism: ...

2023-03-06T20:58:49+01:00

5 Key Pillars of Austrian Economics

👇🧵

1️⃣Subjectivism: All value is subjective, determined by individual preferences and perceptions.

2️⃣Free Markets: Guided by interactions of individuals making decisions in their areas of expertise reinforced by prices, profits and losses acting as signals to guide resource allocation and coordination of economic activities.

3️⃣Sound Money: A monetary system based on sound money would provide unprecedented economic stability and predictability.

4️⃣Time and Uncertainty: Focus is given to individual time preference and how this affects economic decisions. Uncertainty must be recognized as it plays a key role in constantly changing and unpredictable economic environments.

5️⃣Marginalism: Behavior and production decisions are analyzed at the margin on the basis of costs and benefits from incremental changes.

Austrian economics and Bitcoin align well,
free markets, sound money, decentralized, deflationary, scarce. Together they create a financial powerhouse.

If you want to learn more about Austrian Economics I highly recommend reading the likes of Carl Menger, Ludwig von Mises, Friedrich Hayek, Murray Rothbard and Henry Hazlitt whose works are widely distributed and available.

https://i.imgur.com/H9ipm8R.jpg

2023-03-03T01:30:52+01:00

Okay I just got zapped for the first time... Now I understand ...

2023-03-01T04:41:19+01:00

Okay I just got zapped for the first time... Now I understand what you guys were talking about.

This. Feels. AMAZING.

Only realizing now you can't delete your notes and I kinda ...

2023-02-27T01:36:28+01:00

In reply to nevent1q…ahuk
_________________________

Only realizing now you can't delete your notes and I kinda like it... Much more accountability.

It's been a slow process. Students are much more open minded, ...

2023-02-24T23:52:20+01:00

In reply to nevent1q…5a8k
_________________________

It's been a slow process. Students are much more open minded, profs less so. I'll be grabbing coffee with one of my econ profs post reading break and will update then.

I'm not one for price predictions, but since we're on ...

2023-02-24T21:39:30+01:00

I'm not one for price predictions, but since we're on nostr now...

∞/21M

The real question now is how to decide which platform to post ...

2023-02-22T19:06:03+01:00

The real question now is how to decide which platform to post about Bitcoin on... Nostr or Twitter🤔

Thanks for tip, I usually use Muun so I couldn't find my ...

2023-02-22T19:01:20+01:00

In reply to nevent1q…xq62
_________________________

Thanks for tip, I usually use Muun so I couldn't find my LNURL. Got my Wallet of Satoshi set up now, hopefully I did it right.

Awesome, that worked perfectly:)

2023-02-20T23:14:33+01:00

In reply to nevent1q…e6t3
_________________________

Awesome, that worked perfectly:)

Awesome, thanks for the clarification Andrew.

2023-02-20T19:25:29+01:00

In reply to nevent1q…uq0h
_________________________

Awesome, thanks for the clarification Andrew.

How does one set a profile photo? It's asking for a link but ...

2023-02-20T19:21:11+01:00

In reply to nevent1q…5ldf
_________________________

How does one set a profile photo? It's asking for a link but my photos are all files...

Nostr event nevent1qqsx4kcrt88m8pwqvmfx6m5crhs9v9zag6yntus825nr9haa4pue8tczyqnrnxxm4lv9gmrsmjy36qrt2ydkcayue26wjzl03h7j8m8xhwg9gtrx4a5

2023-02-20T19:16:45+01:00

Am I doing this right?