Follow Jack: Nostr | Follow Nick: Nostr | Website: Bitcoin: The Architecture of Time

AI-Generated Takeaways:

• Every discipline builds its authority on some question it made itself immune from asking. Physics assumes time is continuous because nothing inside a continuous universe could ever test otherwise, the same way a formal system cannot validate its own axioms from within. Bitcoin is the first thing humans have built that sits partly outside that assumption, and that alone is enough to make physicists nervous.

• The double spend problem sounds like a computer science footnote until you realize it is really asking whether energy can be in two places at once. Jack and Nick’s whole framework hinges on this: solving double spending is a proof that conservation of energy holds at the smallest possible scale, wearing a cryptography costume.

• A block is not a snapshot of the present. The second it is mined, it is already history, which means Bitcoin has no concept of “now,” only an ever thickening past and an unresolved cone of possibility ahead of it. The whole system runs entirely on memory, and the present moment is just the boundary where that memory keeps expanding.

• We keep treating money, energy, and time as three different subjects that happen to touch each other occasionally. Nick and Jack’s argument is that they are the same substance seen from different angles, and that a piece of paper currency can never explain Bitcoin because paper cannot conserve energy.

• There is a difference between measurement and observation that most people never separate. In Bitcoin, mining is the measurement, and everything else, including node verification, is observation after the fact. If that mapping holds for physics too, it means we have spent a century calling ourselves observers of reality when we were only ever confirming something already decided somewhere outside our reach.

• Quantum computing’s threat to Bitcoin gets treated as a technical race, but Jack and Nick reframe it as a bet on which model of time is correct. If discrete time is right, the centralized quantum computer everyone is racing to build is chasing a flawed blueprint, and Bitcoin, not a lab somewhere, ends up being the actual instantiation of what people mean when they say quantum computer.

• My own experience of feeling like I was in two places at once, something I have never had language for, came up in this conversation and got a framework I did not expect: the idea that consciousness might be tapping into a previous time chain rather than glitching. I do not need physics to validate what I have felt, but it was interesting hearing someone attempt to build a bridge toward it anyway.

• Real philosophy, as Jack and Nick describe it, is not a body of knowledge you memorize and defend. It is a willingness to fully entertain a worldview you do not hold and ask what would have to be true for it to make sense. Most people who call themselves philosophers are really just defending a framework they picked early and stopped questioning.

• Being told you are insignificant, a single drop in an ocean of billions, is one of the more effective ways to keep someone from acting on their purpose. But if consciousness and intention animate a system like Bitcoin, then every person choosing to participate is structurally central to the outcome, whether they feel that way or not.

• Jack and Nick ended this conversation asking for help rather than followers. They do not want believers, they want mathematicians and physicists willing to check their equations and engage in a scientific, philosophical debate.

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Ledn

→ Access liquidity without selling your Bitcoin, get 0.25% off your first loan: https://ledn.io/Efrat

Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Want to preserve your privacy online? Get a GrapheneOS privacy phone or laptop, up to $150 off “Above Phone” products + extra $50 off with code EFRAT: https://abovephone.com/efrat/

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Join me at any of these conferences or events:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

Disclaimer: Products sponsored, advertised, or discussed on this newsletter, blog or podcast are not guaranteed to be risk-free, safe, or suitable for everyone. Listeners must do their own research and exercise their own judgment before purchasing or using any product or service. To the fullest extent permitted by law, the podcast, blog, its hosts and producers disclaim liability for any loss or damages arising from the use of or reliance on any product or service discussed or promoted on the podcast or blog.

Dreams do come true.

I have this habit of saying really grand ideas to myself (and others), thinking I’m crazy for even thinking them, let alone saying them, while really having zero clue how it would happen.

I say it anyway, and call it a “dream”.

Sometimes it takes years to see these dreams come true, and in recent years that time shortens. Think about the beauty of the words “come true”… to turn an idea, a wish, into a truth. Beautiful.

So the first time I said “dreams do come true” in recent years was when Prof. Mattias Desmet joined me in Israel for a conference I produced with 250 people in the audience. Bringing his voice to my platform felt like a fulfilling of my role here, my calling.

The second time I fulfilled a dream was when I said in 2022 I want to travel the world and speak for a living… look at me now, four years later. That’s my reality.

The third time I voiced a dream was 18 months ago, when I was first made aware to the brilliant scientist and great man: Federico Faggin. He touched me in such a deep way, leading me to read his books, binge on any content of his I could find, and spend lots of time thinking and expanding my horizons into the super complex and foreign subject of quantum physics. Even though I have no physics background, I have a strong background in spiritual awakening and great awareness to consciousness and free will, and Faggin spoke my language.

Today I understand the quantum physics is the field of science, or the “language” we have to reflect / describe the phenomena of “one”, as Faggin calls it, the universe, which has the properties of being holistic, dynamic, and wants to know itself, which are the properties of the field of consciousness. Learning from Faggin that we humans are divine creatures, with a physical body that is both classical and quantum, is no less than a fascinating point of view, validating my deep knowingness with a new realm of definitions and explanations to this knowingness.

OK - back to my point of dreams coming true:

Last year I asked if you’d like me to interview Faggin. Many around me said “hell yes” and I wrapped it as a dream and added it to the basket of future gifts I’d like the universe to gift me :)
18 months later, and we have an in-person interview scheduled! Dreams do come true.

How did it happen? thanks to my amazing community; following my post, an awesome community member - , stepped up and found a 2-steps connection to Faggin. With a good load of dedication and persistency, we made it happen, and I’m flying to interview Faggin very soon! Thank you Andre.

I think I’ve been preparing for this interview for the past year :) I’m very excited to spend time with this great thinker and special soul.

Ask your questions

I’d like to open the floor to questions from the community. If you’re like me, familiar with his body of work and ideas, and have questions to ask or topics you’d like him to opine on, please leave a comment below.

Catch up with Faggin's work

I recommend reading (or listening to) his books: Silicon and Irreducible. The latter especially is excellent, and although some of it is Chinese to me, it resonates very much. Another book Faggin co-authored is “Artificial Intelligence Versus Natural Intelligence” and I’ve downloaded the free PDF to read it later.

Also watch these great interviews:

This is a relatively new interview, and I liked it very much. I watched it this week:

Quotes from Faggin’s book: Irreducible

Here are some great quotes from his book - Irreducible. Enjoy.

Please drop me a comment with your thoughts, questions or just say hi.
It’s so great to know you’re with me on this journey.

♡ Efrat

Connect with me:
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Latest releases:

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Trezor

→ Get your TREZOR bitcoin wallet & accessories, with a 5% discount, using my code at checkout (get my code from my podcast episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Join me at Europe’s biggest and most influential Bitcoin event! Enjoy 10% off your BTC Prague using the code EFRAT.

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

Disclaimer: Products sponsored, advertised, or discussed on this newsletter, blog or podcast are not guaranteed to be risk-free, safe, or suitable for everyone. Listeners must do their own research and exercise their own judgment before purchasing or using any product or service. To the fullest extent permitted by law, the podcast, blog, its hosts and producers disclaim liability for any loss or damages arising from the use of or reliance on any product or service discussed or promoted on the podcast or blog.

“In this episode, Jeremy sits down with Efrat Fenigson, host of the "You’re The Voice" podcast and former tech marketing executive, to explore the shift from corporate tech to Bitcoin advocacy driven by concerns about freedom and monetary sovereignty. The conversation covers Efrat's journey from software development in video games to CMO roles, and how COVID-19's state control sparked her deep dive into sound money and Bitcoin.

They discuss the critical differences between CBDCs, stablecoins, and Bitcoin, examining how central bank digital currencies use programmable features like geolocation tracking, expiration dates, and spending quotas that mirror systems in China, Russia, and Nigeria, despite being marketed as convenient innovations in countries like Ireland. The discussion also explores real-world CBDC pilots, the nuanced role of stablecoins as bridge technology with both benefits and limitations, and why Bitcoin represents true permissionless money that restores individual sovereignty.

This conversation offers insights into the regulatory attacks on privacy tools like Samurai Wallet, the essential nature of financial privacy as a human right, and how these developments shape the future of freedom and innovation in an increasingly digital world.”

CHAPTERS
00:00 Coming Up…
01:17 Introduction to Efrat Fenigson
02:14 Tech Background and Marketing Career
08:17 COVID-19 and Bitcoin Discovery
13:02 CBDCs and Digital Surveillance
24:59 Bitcoin, Stablecoins, and Freedom Money
34:04 Digital Money Education
38:28 Privacy Tools and Prosecution
43:44 Efrat's Work and Platforms

Connect with me:
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Sponsors:

Expat Money

→ Download the free report on second citizenships & setting up a plan B in another country with Expat Money: https://expatmoney.com/efrat

Watch my episode with Mikkel for more:

Ledn

→ Access liquidity without selling your Bitcoin, get 0.25% off your first loan: https://ledn.io/Efrat

Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Want to preserve your privacy online? Get a GrapheneOS privacy phone or laptop, up to $150 off “Above Phone” products + extra $50 off with code EFRAT: https://abovephone.com/efrat/

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Join me at any of these conferences or events:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

Helena Andrejko is a wise therapist, anthropologist and writer whose work examines how the architecture of monetary systems, fiat and Bitcoin alike, shapes human perception, behaviour and our sense of sovereignty. Born in the Czech Republic and raised under communism, she lives in Sydney, Australia where she practises as a therapist specialising in trauma. We discuss her recent keynote, "Bitcoin Cures Stockholm Syndrome", which analyzes the monetary system and maps the symptoms of an abusive relationship directly onto fiat. We also dive deep into trust, decentralizing the mind, and Helena’s upcoming new book. Enjoy this highly thought-provoking, raw and real dialogue.

Follow Helena: Twitter | Nostr | Substack | Helena’s book waitlist

AI-Generated Takeaways:

• Money stopped being money the moment it started requiring permission. If every transaction can be observed, judged and blocked, what we are holding is a permission slip issued by the state, and calling it currency only makes the arrangement easier to live with.

• The most effective abuse is the kind that is too large to look at directly. Helena described how a child blames himself rather than accept that her protectors want to hurt him, and the same self-protective blindness scales perfectly to an entire population living under a monetary system.

• Endless issuance does something to us that goes far beyond prices. When money has no beginning and no end, we lose our sense of where limits are supposed to sit, and a power without boundaries feels natural rather than alarming.

• Trust that cannot be withdrawn was never trust. Distrust is the flip side that makes trust real, and any system that removes your ability to walk away has quietly swapped trust for obedience while keeping the nicer word.

• Every warning sign we teach people to recognise in a violent relationship is present in the monetary system. Possessiveness, gaslighting, financial control, surveillance, punishment, the threat of force. We simply never thought to run the checklist on something that large.

• Complexity functions as a control mechanism. The fiat architecture is not accidentally impossible to follow and the language around it is not accidentally impenetrable. Verification has been made expensive by design, which is exactly why so few of us ever attempt it.

• Bitcoin’s real gift may be the proof of concept it actually is. If resistance turned out to be possible in the one domain that looked most locked down, then resistance is buildable everywhere else. What remains is the work of building it.

• “Waking up” in one area does not transfer automatically to the others, it takes work and energy. I realize that most people can endure change in small increments, which explains why some people who “woke up” during Covid then regressed, because the pressure never stopped, if anything it intensified, and nobody has infinite capacity.

• Protection and suppression can be the same act. Efrat’s parents hid the gifted school results to keep her modest, and they genuinely believed they were doing right by her.

• The state took the parent role and we accepted the child role, including the loss of privacy that comes with it. Children are monitored for their own safety and criminals are monitored for ours, so being watched by default means we are either treated like kids or criminals.

• Nothing you build stays healthy if the root system is poisoned. You can be the most conscious person alive about food, land and health, and still run your entire life on money that someone else controls and can switch off at will.

• Acceptance comes before change, and that holds for systems as much as for people. You cannot fix what you are still busy defending, which may be why the first honest look at how bad the money really is tends to be the moment everything else becomes possible.

Connect with me:
Twitter | YouTube | Instagram | Nostr | My podcast | All other links

Sponsors:

Expat Money

→ Download the free report on second citizenships & setting up a plan B in another country with Expat Money: https://expatmoney.com/efrat

Watch my episode with Mikkel for more:

Ledn

→ Access liquidity without selling your Bitcoin, get 0.25% off your first loan: https://ledn.io/Efrat

Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Want to preserve your privacy online? Get a GrapheneOS privacy phone or laptop, up to $150 off “Above Phone” products + extra $50 off with code EFRAT: https://abovephone.com/efrat/

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Join me at any of these conferences or events:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

Disclaimer: Products sponsored, advertised, or discussed on this newsletter, blog or podcast are not guaranteed to be risk-free, safe, or suitable for everyone. Listeners must do their own research and exercise their own judgment before purchasing or using any product or service. To the fullest extent permitted by law, the podcast, blog, its hosts and producers disclaim liability for any loss or damages arising from the use of or reliance on any product or service discussed or promoted on the podcast or blog.

“Bitcoin doesn't need to be destroyed to lose the war.
If people give up self-custody and agree to exchange Bitcoin for pieces of Wall Street paper, defeat has already begun.
In this conversation, Efrat Fenigson and I talked about Bitcoin Core, Michael Saylor, stablecoins, and the risk of Bitcoin becoming another piece of the fiat system.
She also shares how the pandemic turned her life upside down and why she turned down a larger sponsorship offer from Coinkite before the Coldcard debacle.”

CHAPTERS
00:00 Highlights
01:35 Who is Efrat Fenigson?
05:26 How the pandemic awakened Efrat
09:07 The fiat system as modern slavery
13:07 BIP-110, Bitcoin Knots and Bitcoin Core
14:46 Ledn's message
16:05 Is Bitcoin Core being co-opted?
19:35 Who funds developers?
25:19 Wall Street, BlackRock and the Attack on Bitcoin
26:44 Self-custody and vulnerable points
30:00 The responsibility of Bitcoiners
33:58 Ideology and values within Bitcoin Core
42:02 What happened to Michael Saylor?
47:08 Stablecoins: the new digital money
49:48 Fiat on steroids
56:32 The future of free communities
01:02:57 A protocol of sovereignty for your life
01:10:27 How Efrat Became a Freedom Activist
01:13:21 Democracy, corruption and political theater
01:17:22 Coldcard, Coinkite and the rejected proposal

Connect with me:
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Sponsors:

Expat Money

→ Download the free report on second citizenships & setting up a plan B in another country with Expat Money: https://expatmoney.com/efrat

Watch my episode with Mikkel for more:

Ledn

→ Access liquidity without selling your Bitcoin, get 0.25% off your first loan: https://ledn.io/Efrat

Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Want to preserve your privacy online? Get a GrapheneOS privacy phone or laptop, up to $150 off “Above Phone” products + extra $50 off with code EFRAT: https://abovephone.com/efrat/

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Join me at any of these conferences or events:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

Disclaimer: Products sponsored, advertised, or discussed on this newsletter, blog or podcast are not guaranteed to be risk-free, safe, or suitable for everyone. Listeners must do their own research and exercise their own judgment before purchasing or using any product or service. To the fullest extent permitted by law, the podcast, blog, its hosts and producers disclaim liability for any loss or damages arising from the use of or reliance on any product or service discussed or promoted on the podcast or blog.

Follow Jessica: Twitter | Substack

Unacceptable Jessica

Where SCIENCE and IMMUNOLOGY reigns.

By Jessica Rose

Takeaways:

• Every system I have ever questioned turns out to have the same shape underneath. Jessica spent five years documenting what happened to informed consent in medicine, and I have spent much of my time documenting what happened to it in money. We were describing one machine from two different windows.

• The word chosen to describe a thing decides whether people are permitted to think about it. They said vaccine and never said gene, and that single substitution bought years of unexamined compliance. Language is the first layer of capture, and it does its work before any argument can even begin.

• Normalization was the actual intent. The injections were the delivery mechanism for something much larger, which is a public that now accepts a platform it does not understand. Once the acceptance exists, the contents can be swapped freely, and that is precisely what their plug and play means.

• The people fighting hardest on our behalf are usually doing it for free. Jessica volunteers her expertise, her time and her reputation, while everyone across the table has a salary attached to the opposite conclusion. One side has to be paid to show up while the other one cannot stay away.

• Suppression tells you exactly where to look. Jessica said the more they tell her to shut up, the more she talks. When the obvious question is the one that cannot be asked out loud, something has already been decided on our behalf.

• Fiat sits at the top and everything else runs downstream of it. Health, education, justice, media: each one carries an incentive structure derived from who prints and who receives. Once that becomes visible, medical corruption stops looking like a scandal and starts looking like an output.

• Asking permission to spend your own money is a humiliation ritual we have all agreed to call normal. Jessica named it out loud as a fifty something year old woman. Her time and her energy went out into the world, and now something in the middle decides how much of it she may have back.

• mRNA is to medicine what a CBDC is to money. One approved option, described as being for your own good, delivered to people whose ability to decline was removed in advance. The pattern repeats across domains because it works, which is more unsettling than any conspiracy would be.

• The switches built during Covid were never dismantled. Canada demonstrated to the world that a bank account can be switched off for speech, and every system built since has been designed with that capability quietly assumed rather than openly debated.

• You do not have to do anything wrong to become a target. Jessica has never done anything wrong in her life and it makes no difference, because being inconvenient to a revenue model is enough. Anyone who believes compliance buys safety should sit with that for a while.

Check out Jessica’s first episode on You’re The Voice:

Connect with me:
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Sponsors:

Expat Money

→ Download the free report on second citizenships & setting up a plan B in another country with Expat Money: https://expatmoney.com/efrat

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Ledn

→ Access liquidity without selling your Bitcoin, get 0.25% off your first loan: https://ledn.io/Efrat

Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Want to preserve your privacy online? Get a GrapheneOS privacy phone or laptop, up to $150 off “Above Phone” products + extra $50 off with code EFRAT: https://abovephone.com/efrat/

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Join me at any of these conferences or events:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

Disclaimer: Products sponsored, advertised, or discussed on this newsletter, blog or podcast are not guaranteed to be risk-free, safe, or suitable for everyone. Listeners must do their own research and exercise their own judgment before purchasing or using any product or service. To the fullest extent permitted by law, the podcast, blog, its hosts and producers disclaim liability for any loss or damages arising from the use of or reliance on any product or service discussed or promoted on the podcast or blog.

Follow Freddie:
Twitter | Nostr | B HODL’S Website | Freddie’s Privacy Guide
Freddie’s recommendation: A Not Too Technical Overview of This Bitcoin Thing

Want to preserve your privacy online? Get a GrapheneOS privacy phone or laptop.

→ Enjoy up to $150 off Above Phone products + extra $50 off with code EFRAT: https://abovephone.com/efrat/

Takeaways:

• Speech and thought are the same freedom wearing different clothes. A society that stops you saying a thing eventually stops you thinking it, because thinking is mostly a conversation you have out loud with other people.

• The safest thing anyone can do with personal data is refuse to collect it in the first place. Every large centralized database eventually leaks, and it is usually sold to exactly the people it was supposed to protect you from. So a policy designed to keep children safe ends up building the single most dangerous object in the country.

• When a stated goal cannot be achieved by the method chosen, the stated goal is probably not the real one. There is no way to check every child at the door without checking every adult too, which means age gating the internet is really identity gating the internet. The children are the argument, and the argument is unanswerable by design.

• Control of money comes first. Someone who cannot buy a train ticket cannot travel to a protest, which makes the payment rail the cheapest and quietest lever an authoritarian has.

• When people erupt, attacking the place where the anger is visible does nothing about the anger. Blaming a social platform for street violence is treating the thermometer instead of the fever, and it reveals a governing class more frightened of being seen clearly than of being wrong.

• Credit is a machine for pulling tomorrow’s value into today, and it works beautifully in small doses. Scaled to a nation and detached from anything real, it becomes a way of consuming a future that has not been earned yet. Money got easy to make, value never did, and the gap between those two facts is most of what feels broken.

• Currencies are much more fragile than the people using them believe. The oldest surviving one, the British Pound, is only a few hundred years old, Zimbabwe has burned through five in one lifetime, and Argentina five in fifty years.

• The protocol does not need permission, and the human being holding it lives somewhere with rules. A single regulatory phrase can lock a citizen out of an exchange, close a business bank account, or cap what an ordinary person may buy in a year. That is why policy work matters.

• A ban on Bitcoin is a ban on arithmetic. A child in a bedroom flipping a coin 256 times and writing down the result has generated a key and can receive money from anywhere on earth, which means outlawing it requires outlawing entropy, mathematics and private thought. Some things simply cannot be legislated out of existence.

• Almost everyone doing damage is convinced they are the good person in the story, which is why a central bank can sell a surveillance currency using the word freedom and mean it sincerely. That is more unsettling than villainy and also more workable, because sincere people can be argued with. The numbers are on the side of ordinary people, and remembering that is itself a form of resistance.

Connect with me:
Twitter | YouTube | Instagram | Nostr | My podcast | All other links

Sponsors:

Expat Money

→ Download the free report on second citizenships & setting up a plan B in another country with Expat Money: https://expatmoney.com/efrat

Watch my episode with Mikkel for more:

Ledn

→ Access liquidity without selling your Bitcoin, get 0.25% off your first loan: https://ledn.io/Efrat

Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Want to preserve your privacy online? Get a GrapheneOS privacy phone or laptop, up to $150 off “Above Phone” products + extra $50 off with code EFRAT: https://abovephone.com/efrat/

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Join me at any of these conferences or events:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

Art as a Vehicle for Collectivist Ideas

Somewhere along the way, art became a delivery system for collectivist ideas, and any artist who wanted to eat learned to carry the message. MADEX is proving the delivery system runs in both directions. Change the money behind the art and you change what the art is allowed to say. He’s making the case that capital itself, real capital, is the root of excellence rather than its enemy.

The Entrepreneur Is the Signal

You can measure the health of a society by the way it treats its entrepreneurs, he told me, because an entrepreneur is the closest thing we have to an honest signal from the market. In a world that relies on committees of experts, government subsidies or mandates – this can sounds like a strange idea. But in an open free market, the entreperneur’s endevours will receive an honest “live or die” signal rapidly, which will serve as a impactuful force to shape the market and society’s direction and behaviour.

The Truck Nobody Asked For

MADEX then shared an anacdote I wasn’t aware of: Pickup trucks in the US and Canada are now much larger that in the past. But nobody asked for larger vehicles… what happened? Regulators tied engine efficiency to vehicle size, and manufacturers worked out that inflating the truck with aluminum was cheaper than redesigning an engine from scratch. The rule produced the exact opposite of its intent, and everyone pays for it forever. That’s what happens when people with no connection to reality get to define what efficiency means. It’s a small example, but it’s everywhere once you start looking for it.

Quality Cannot Be Faked

Real leather and real cotton resists dilution. The price of beef tells you more about what’s happening to your money than any government number, and the feeling of something well made sitting in your hand has quietly become a form of evidence. MADEX is building a line of lighters right now designed to last generations, a small rebellion against everything disposable.

The Patron With No Opinion

Bitcoin is the first patron of the arts with number go up technology. Every patron before it arrived with an opinion about what should be made. Bitcoin has none. Hold it long enough and it becomes the blank check that artists have been dreaming about for five hundred years, moving the constraint on creation from money to vision. When 0.01 Bitcoin can finance a company for twenty years, we’re going to see an explosion of innovation nobody alive has witnessed. True capitalism has been dead for well over a century. We’ve just been living off its architectural remnants.

AI Is Not The Enemy

On AI, he wasn’t dismissive, just precise. AI cannot receive a vision in a dream, MADEX said. It recombines what already exists, useful and worth using. The creators black pilling on AI right now are being encouraged to quit their jobs by the people who benefit from them quitting.

Why He Won’t Use the ₿

MADEX refuses to put the Bitcoin symbol on his work. The symbol is a shortcut, cheap, fast, anyone can order it from China, he says. What actually costs something is converting dense economic and philosophical ideas into symbols that carry them, and people feel that difference even when they can’t articulate it. Wealth is in the details. The last two percent of effort is the entire distance between good and great.

Children: The Most Intimate Front

We closed on children, and he was ademant about that. The campaign against having children is the most intimate front of this whole war. It’s expensive, it’s bad for the planet, the world is ending anyway, and the targets are always the people who think for themselves. Children hand you a stake in the future (I loved that), and a stake in the future makes you fight for it. That’s why you’re being told to skip it.

Thought on Debt

About debt, MADEX is more nuanced: Fiat debt cripples fiat man and liberates Bitcoin man. Same instrument, opposite outcome, and the only variable is what you’re holding underneath it. One man is locked into a car payment for eternity. The other takes on debt with a smile, because time is quietly working for him.

This is one of the most creative conversations I’ve had on the show, with a super based, talented artist. If you make anything, or you’re raising kids, or you’re just trying to figure out what to hold onto while everything around you gets diluted, this one is for you.

Connect with me:
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Trezor

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Abundant Mines

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→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

Disclaimer: Products sponsored, advertised, or discussed on this newsletter, blog or podcast are not guaranteed to be risk-free, safe, or suitable for everyone. Listeners must do their own research and exercise their own judgment before purchasing or using any product or service. To the fullest extent permitted by law, the podcast, blog, its hosts and producers disclaim liability for any loss or damages arising from the use of or reliance on any product or service discussed or promoted on the podcast or blog.

Luke de Wolf, industrial cybersecurity expert and author of “Defending Bitcoin”, applies critical infrastructure security frameworks to Bitcoin itself. We dig into the network’s real risks and vulnerabilities: arbitrary data, Bitcoin Core’s governance structure, and the Core vs. Knots split. Luke’s argument: Bitcoin has weathered this so far, but complacency is the one risk it can’t afford.

Follow Luke: Twitter | Nostr | Book and Website

Watch Luke’s first appearance on the You’re The Voice Podcast here

Takeaways:

• Bitcoin is critical infrastructure with nobody assigned to defend it. Every power grid, pipeline and payment network on earth has a security team, an incident response plan and someone whose job is to answer the phone at 3am. Bitcoin secures close to two trillion dollars and has none of that. Its entire defense budget is whatever individual holders, node runners and miners decide to spend on their own.

• Availability turns out to be the security property that matters most. In industrial systems the priority is keeping the thing running, because a plant that stops has already failed at its purpose. Bitcoin works the same way.

• The most dangerous governance failures look completely reasonable from the inside. Nobody has to be corrupt for a system to capture itself. A fellowship leads to a contributor role, a contributor role leads to a maintainer role, a maintainer nominates her own successor, and every individual step is defensible. Then one day you look up and the people holding commit rights all came through the same two founders.

• Rough consensus becomes rule by insiders the moment you also get to define who counts as an insider. Technical people with years of GitHub history and legitimate objections were dismissed in the OP_RETURN debate on the grounds that they were not regular contributors to Core.

• Telling users to go run different software is an admission, and people took it literally. Knots went from roughly 5% of the network to around 20%. ProductionReady now exists specifically to fund a third implementation. When people are told their preferences do not count, some of them go and build somewhere those preferences do count.

• Defaults shape behavior far more powerfully than rules ever could. For years nothing prevented anyone from stuffing data into Bitcoin. There was only a network default saying 80 bytes gets relayed and anything beyond that is your own problem. That default held for a decade on nothing but shared understanding. Removing it took away the friction that had quietly made restraint the easy choice.

• Every attack surface in this conversation had a personal action attached to it. This is the part I keep returning to. Mining centralization has a home miner answer. Node centralization has a run your own answer. Governance capture has a choose your client answer. The list of things a single person can do right now turned out to be longer than the list of things they have to accept.

• Complacency is the one threat with no available defense. Every other risk we discussed has a mitigation, a workaround, a control you can apply today. The single failure mode with no answer is a population deciding its individual contribution is too small to bother making.

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Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Join me at any of these conferences or events:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

Transcript:

PART 1: THE TREZOR INCIDENT

Yesterday Trezor confirmed a data breach at one of its shipping partners, exposing customer order details, and in this video I’ll walk through what happened, what it means, and the self-custody best practices worth tightening.

But first we need to talk about what’s happening to self-custody, because I feel there’s a multi-front attack on bitcoin and specifically on self custody, and the last couple of weeks make that hard to ignore.

That matters because self-custody isn’t a fringe practice, more than 45% of bitcoin is held in self-custody today, according to River. And I think that’s exactly why there’s a real push to reduce that number and get users custodying their bitcoin with third-party custodians instead, because the more that shifts, the more it chips away at bitcoin’s strength as a permissionless asset. And yet, look at what’s piled up in just the last couple of weeks.

It started with Coldcard, a firmware flaw that quietly weakened seed randomness, draining over 1,800 Bitcoin from thousands of addresses. Then BTCPayServer, exploited to empty Lightning nodes. Then Boltz, hit by relentless AI-assisted attacks until its founding team stepped down and handed the company off, and days later Lightning wallet ZEUS pulled its own infrastructure offline after a separate cyberattack. And now, this week, Trezor disclosing a shipping partner breach that exposed customer data.

All of this landed right around Bitcoin’s contentious BIP-110 activation window. I’m not saying that’s cause and effect, but five incidents in the same stretch of weeks is not something to wave off as coincidence. It reads like a multi-front attack on the credibility of self-custody itself, and headlines are pushing the same message: self-custody is dead, you can’t trust yourself to custody your own money, you need someone else to hold it for you.

But I reject that framing. It may not be for everyone, and some people genuinely need help, but it’s still a valid approach. There are many ways to hold, secure, and transact with Bitcoin, and each person, business, or institution should use whatever fits them best.

I also think we’d be lying to ourselves if we didn’t admit these incidents are teaching us something real. We’ve gotten comfortable, and that’s exactly where security fails. So instead of getting defensive, let’s actually learn from this and tighten what needs tightening.

Here’s what Trezor disclosed.

Trezor put out an official statement on August 13th about a breach at ShipMonk, one of the shipping providers they use to fulfill orders. An unauthorized party gained access to systems holding customer data. The exposed KYC information includes names, phone numbers, emails, and shipping addresses, of roughly 14,000 people who ordered from the US, UK, Sweden, Colombia, Brazil, Italy, or Portugal between May 10th and August 8th 2026. If you placed an order during that time, check your email to see if you received a message from help@trezor.io about it.

The reason the number isn’t higher is Trezor’s own data retention policy. They retain order data for only 90 days after delivery, and require the same from their shipping partners, so anything older simply wasn’t there.

Trezor also says this is the first time in their thirteen-year history that a breach has exposed customer phone numbers and shipping addresses.

Important to mention, as I’ve seen some people and companies spreading misinformation about it: devices and wallets were NOT affected by this. This is an order data breach, which poses an operational security risk, not a funds risk. Nobody’s Bitcoin was touched, no private key was exposed, and Trezor’s own systems were not compromised. This was strictly a data breach.

PART 2: SELF-CUSTODY BEST PRACTICES

So let’s get into the actual takeaways here, a few self-custody best practices worth tightening up right now.

If you were affected, know this: it doesn’t put your funds at risk directly, but it does put you at risk of phishing, and since shipping addresses were exposed, it also raises the risk of a $5 wrench attack, meaning physical targeting based on someone knowing where you live and that you own a hardware wallet. Whoever accessed this data now has exactly what they need to send convincing phishing emails, fake calls, fraudulent letters impersonating Trezor, your bank, or an exchange.

1. Never enter your seed phrase anywhere but your device. Not a website, not an app, not a support chat. This is the single most repeated piece of advice from every hardware wallet company after every incident, because it’s still the number one way people actually lose funds.

2. Verify any Trezor communication through official channels only. No legitimate company will ever ask you for your recovery words, your seed phrase, not by email, not by phone, not on a website. Btw the same goes for communication from me or anyone else, there are so many impersonators who are trying to scam people pretending to be someone they’re not. I would never DM you to ask for your personal information.

3. Consider a multisig setup for meaningful amounts. Spreading trust across multiple devices or locations means a compromised seed can’t take everything. When it comes to multisig, remember it doesn’t necessarily require a custodian, it doesn’t require KYC, giving up your privacy, or a company signing on your behalf. One of Bitcoin’s first principles is removing trusted third parties, not scaring you into adding them back in under a different name.

4. Limit what companies know about you when you order. Use an email address that isn’t tied to your real identity when you place the order. Pay with bitcoin if you can, and if you can’t, use a disposable debit card instead of your regular one. Ship to a PO Box or delivery center, instead of your home address to limit how much of your physical location is on file, though keep in mind ID is usually still required to collect from one.

Trezor is also rolling out an anonymous delivery option, using locker pickup, neutral packaging, and generic sender details, with automatic deletion of shipping data after delivery, aiming for the EU by September and the US by the end of the year.

WHY THIS MATTERS

Lastly, I want to apologize for not stressing these best practices earlier, I’m aware it could have protected people from this data breach, and as someone who recommends Trezor products, I apologize if you got affected. I also want to emphasize something about every company or product I talk about on my show. Nothing is risk free. I bring you the people and the products I find compelling, but that is never a substitute for your own research. Always look into the security practices of anything you use to store or move your money, and always decide for yourself what level of risk you’re comfortable carrying.

Stay sharp, vigilant, and safe out there.

Connect with me:
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Latest content:

Sponsors:

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Ledn

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Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Join me at any of these conferences or events:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

Follow MADEX: Twitter | Nostr | Art

Takeaways:

• Art was never neutral. Somewhere along the way it became a delivery system for collectivist ideas, and any artist who wanted to eat learned to carry the message. What MADEX is proving is that the delivery system runs in both directions. Change the money behind the art and you change what the art is allowed to say.

• You can measure the health of a society by the way it treats its entrepreneurs. An entrepreneur is the closest thing we have to an honest signal from the market.

• The pickup truck story broke something open for me. Nobody asked for larger vehicles. Regulators tied engine efficiency to vehicle size, and manufacturers worked out that inflating the truck with aluminum was cheaper than redesigning an engine. The rule produced the exact opposite of its intent and everyone pays for it forever. This is what happens when people with no connection to reality get to define what efficiency means.

• Quality cannot be faked, which is exactly why it disappears first. A steak resists dilution. So does real leather and real cotton. The price of beef tells you more about what is happening to your money than any government number, and the feeling of something well made sitting in your hand has quietly become a form of evidence.

• Bitcoin is the first patron of the arts with number go up technology. Every patron before it arrived with an opinion about what should be made. Bitcoin has none. Hold it long enough and it becomes the blank check that artists have been dreaming about for five hundred years, which moves the constraint on creation from money to vision.

• When 0.01 Bitcoin can finance a company for twenty years, we are going to see an explosion of innovation that nobody alive has witnessed. True capitalism has been dead for well over a century and we have been living off its architectural remnants ever since.

• AI cannot receive a vision in a dream. It recombines what already exists, which is useful and worth using, and it will never sit alone at three in the morning while something arrives from somewhere unaccountable. The creators black pilling on AI right now are being encouraged to quit by the exact people who benefit from them quitting.

• The Bitcoin ₿ is a shortcut that anyone can order from China. What actually costs something is converting dense economic and philosophical ideas into symbols that carry them, and people feel that difference even when they cannot articulate it. Wealth is in the details, and the last two percent of effort is the entire distance between good and great.

• The campaign against having children is the most intimate front of this war. It is expensive, it is bad for the planet, the world is ending anyway, and the targets are always the people who think for themselves. Children hand you a stake in the future, and a stake in the future makes you fight for it. That is precisely why you are being told to skip it.

• Fiat debt cripples fiat man and liberates Bitcoin man. Same instrument, opposite outcome, and the only variable is what you are holding underneath it. One man is locked into a car payment for eternity and the other takes on debt with a smile because time is quietly working for him.

Connect with me:
Twitter | YouTube | Instagram | Nostr | My podcast | All other links

Sponsors:

Expat Money

→ Download the free report on second citizenships & setting up a plan B in another country with Expat Money: https://expatmoney.com/efrat

Watch my episode with Mikkel for more:

Ledn

→ Access liquidity without selling your Bitcoin, get 0.25% off your first loan: https://ledn.io/Efrat

Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Join me at any of these conferences or events:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

Ben Perrin is a Canadian Bitcoin educator and the creator of BTC Sessions, the world’s longest running Bitcoin only educational channel, with tens of millions of views since 2016. Together, we discuss what bitcoin is shaping up to be, Ben’s three YouTube deletions, the Canadian trucker protest, state censorship, self custody mistakes that could cost families their inheritance, and the new Sovereign Sessions channel launching this month. We close with a rapid audience Q&A on BIP 110, wallets, silent payments, and more.

Follow Ben: Twitter | Nostr | BTC Sessions on Youtube | Sovereign Sessions on Youtube

Takeaways:

• A decade of any discipline, dance or Bitcoin education, teaches the same lesson about mastery: the goal keeps moving faster than you can catch up to it. Ben expected to run out of Bitcoin topics to cover. Ten years and thousands of videos later, the list keeps growing faster than the time he has to cover it.

• Platforms that reward you for growth can revoke everything on a whim, and the only real protection is never depending on a single one of them. Ben’s YouTube channel vanished three times, once mid livestream in front of nearly 400,000 subscribers, with no real explanation ever given.

• When a government freezes a small amount of Bitcoin during a protest and the press reports it as total confiscation, the version that spreads is the one that serves the narrative already in place, regardless of what actually happened. Most Canadians still believe the trucker protest funds were frozen; 70 percent of the donated Bitcoin was handed out in packages on the ground and never touched.

• Real world adversarial tests, even painful ones, become blueprints. The financial crackdown on the Canadian trucker protest exposed weaknesses in fundraising under state pressure that Bitcoiners can now design around, using tools like silent payments, before the next crisis arrives.

• Overengineering an inheritance plan into a scavenger hunt can guarantee generational wealth is lost, simply because whoever needs to access it isn’t equipped to solve the puzzle a paranoid version of yourself designed.

• Diversification within Bitcoin custody, not away from Bitcoin, is where the real risk management happens. Weighing the likelihood of a house fire against the likelihood of a state raid, and building a different setup for each, is more honest than pretending one solution fits every threat.

• State media funded largely by government dollars will rarely cover stories that embarrass that government, which means the truth about tools like Bitcoin spreads person to person, podcast to podcast, hand to hand, never top down.

• Voting out a leader over surface level dissatisfaction, without examining what the replacement actually represents, often installs someone who continues the same policy under a friendlier face. An electorate that celebrates removing one architect of a crisis while cheering for his former advisor has learned nothing about the crisis itself.

• Being called an influencer only stings when you’ve absorbed someone else’s cynicism about what you do. It stops being an insult the moment you watch it change a stranger’s life, send them into a career they love, or hand a family the tools to protect their future.

• Refusing to build financial products that sit on top of Bitcoin as collateral comes from rejecting the same counterparty risk Bitcoin was built to escape, just recreated one layer removed and dressed up as innovation.

• Passionate voices at the extremes of any debate aren’t a problem to silence. They’re what drags the center of the conversation somewhere new, while most people still land somewhere in the middle, which is exactly how consensus is supposed to work.

• Hope, in Ben’s telling, gets built one local market at a time, by finding freedom minded people and transacting directly with them instead of waiting for permission from institutions. Enough scrappy individuals doing that quietly today is what lets a whole generation ride off into their own version of a peaceful citadel.

Connect with me:
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Sponsors:

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Ledn

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Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Join me at any of these conferences or events:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

Follow Tomáš: Twitter | LinkedIn

Takeaways:

• A single root failure destroys everything built on top of it. If entropy is broken at the very beginning of key generation, no amount of good design downstream can save you, because every key that follows inherits the same flaw.

• Open source is necessary but never sufficient. Code being visible does not mean anyone is actually looking at it. Security requires incentivized eyes doing the work, not just accessible code sitting in a repository.

• Licensing quietly shapes an entire industry’s incentive structure. When a company forks free and open code but locks its own derivative down, it loses the very community review that made the original trustworthy.

• A vulnerability can sit untouched for five years, and the silence itself is never proof of safety. Absence of disclosure just means absence of attention, not absence of risk.

• The instinct to add more security friction often trades away the usability that keeps people safe in the first place. Security that nobody can use correctly becomes its own kind of vulnerability.

• Physical security gets disproportionate attention because it is dramatic and visible, while remote and software-level risks quietly do far more damage. We fixate on the exotic threat and underinvest in the mundane one.

• Transparency has a cost that companies rarely get credit for. Publishing a finding that ultimately posed no real risk to funds still reads as a headline, and honesty can be mistaken for weakness.

• Every wave of institutional entry into Bitcoin, through ETFs and custodians, reintroduces the exact intermediary that Bitcoin was built to remove. Convenience quietly recreates the system people thought they were escaping.

• A crisis inside a trusted brand tends to produce both short-term flight to convenience and long-term improvement in rigor, and a community can hold both reactions true at the same time.

• Bug bounty programs are a quiet admission that no company, however competent, can find all of its own flaws. Declining to pay for vulnerability reports is a decision about priorities, not a sign of confidence.

• Multisig across different vendors protects against a category of failure that multisig within one vendor cannot touch. Redundancy only works when the redundant parts can actually fail independently of each other.

• Technologies inherit reputations from years-old failures long after the underlying weaknesses have been fixed. A protocol’s old bad name can persist even after the real problem has quietly been solved.

Connect with me:
Twitter | YouTube | Instagram | Nostr | My podcast | All other links

Sponsors:

Expat Money

→ Download the free report on second citizenships & setting up a plan B in another country with Expat Money: https://expatmoney.com/efrat

Watch my episode with Mikkel for more:

Ledn

→ Access liquidity without selling your Bitcoin, get 0.25% off your first loan: https://ledn.io/Efrat

Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Join me at any of these conferences or events:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

Follow Paul: Nostr | Paul’s Newsletters | “A Lodging of Wayfaring Men” free audiobook

Paul’s newsletter:

The Findings Substack

From 2011 through 2025, my subscribers financed a long exploration to the frontiers of history, philosophy and science. That voyage is now complete and I’ll be writing about our discoveries here at Substack.

Takeaways:

• A surveillance state rarely needs a single villain behind it. It emerges from an accumulation of institutions, each one just doing what seemed convenient or profitable at the time, until the aggregate becomes something none of them could have built alone.

• Fear works as a deliberate brain hack, and someone usually benefits from deploying it. Once you can recognize that mechanism in the moment it’s happening to you, you stop being an easy target for it.

• Watching a government stop mocking a movement and start showing up to court says more about that movement’s momentum than any poll or headline ever could.

• Sitting inside a courtroom teaches how easily the appearance of due process can mask decisions that were made long before anyone took the stand. A judge quietly editing a trial transcript over a weekend is the kind of detail that never makes it into the official record.

• A currency that requires printing more of itself to survive is eventually forced into a binary choice between hyperinflation and default, and governments will almost always choose to keep printing rather than face the political consequences of default.

• The hardest part of adopting a genuinely new idea about money isn’t intelligence. It’s psychological willingness to sit with something unfamiliar long enough to actually understand it, and most people simply don’t have the time or safety to do that.

• Encryption was once classified as a weapon under US export law, restricted the same way a missile would be. The privacy tools we take for granted today exist because a small group of people were willing to risk prison to get the code out into the world.

• Covid showed how quickly people who called themselves free speech advocates could disappear the moment defending speech actually cost them something. Watching an entire class of vocal supporters vanish overnight was more revealing than anything they had said before that.

• A chaotic, decentralized AI landscape full of competing, imperfect players can be safer for humanity than a smooth, centralized one. Entropy, messy as it looks from the outside, is often what keeps power from consolidating in the first place.

• Charity and care for the poor existed long before the modern welfare state, built by ordinary people who could not simply print unlimited money and instead built systems of mutual support that had to work within real constraints.

• Honest money makes war, bribery, and unchecked government spending structurally harder, because there is finally a real price attached to every one of those choices.

• What gives Paul the most hope for humanity’s future is watching people quietly rediscover that certain traditional values around commitment, family, and purpose were healthier all along than the alternatives they had been sold.

• Every single person changes the world just by making choices every day. The world as it exists right now is nothing more than the aggregate of billions of individual decisions, which means no one participating in it is actually powerless.

Connect with me:
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Sponsors:

Expat Money

→ Download the free report on second citizenships & setting up a plan B in another country with Expat Money: https://expatmoney.com/efrat

Watch my episode with Mikkel for more:

Ledn

→ Access liquidity without selling your Bitcoin, get 0.25% off your first loan: https://ledn.io/Efrat

Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Join me at any of these conferences or events:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

If you’re considering switching to Trezor

Trezor has a sale on till Aug. 6, of up to 20% off (which started before this shit show) and I got an extra 10% off, using this link.
The discount code is in this short video, yes, you’ll have to watch it:

What happened

Coinkite, the maker of Coldcard, disclosed a critical flaw in how some of its devices generate wallet seeds. In simple terms: the device was supposed to pull true randomness from a dedicated hardware chip when creating your seed phrase, but due to a coding error, it was often pulling from a much weaker, predictable source instead.

Weak randomness means a smaller pool of possible seed phrases, small enough that an attacker can potentially guess or reconstruct one and steal the funds behind it. Your PIN, your air-gapped setup, your secure element, none of that helps once the seed itself was never truly random to begin with. Sadly, researchers have already tied roughly 594 BTC (about $38 million) swept from around 500 wallets to this exact issue.

More technical explanations here:

Who is affected

• Mk3 devices, seeds generated on firmware 4.0.1 through 5.0.3, are the most exposed. Coinkite estimates the effective randomness dropped to roughly 40 bits, far below what’s needed for real security.

• Mk4, Mk5, and Q devices were also affected, though less severely (effective entropy around 72 bits), because some hardware-based randomness still got mixed in as a backup.

• TAPSIGNER, OPENDIME, and SATSCARD are not affected, they run different code entirely.

• If your seed used 50 or more independent, private dice rolls, or a strong BIP-39 passphrase, your risk is significantly lower, but migrating is still the safe move.

  Coinkite’s full technical writeup is here if you want the details: Technical Deep Dive into the Entropy Issue

Coinkite’s response

Coinkite founder NVK posted a long, unusually direct apology and accountability statement. Worth reading in full:

What to do if you have a Coldcard

I’m not going to walk through the migration steps myself, this moves fast and the official guidance is the safest source to follow in real time. Go straight to Coinkite’s own instructions: blog.coinkite.com and firmware upgrade instructions. You can also follow @COLDCARDwallet and @Coinkite for real-time updates. If you’d rather be walked through it, see the video tutorial and the live support session below.

Video walkthrough

• If you’d rather watch someone do this step by step, Nathan from BTC Sessions put together a quick 15-minute tutorial: confirm your seed phrase backup, upgrade firmware, wipe seed, generate a new seed from the new firmware, then migrate to the new wallet using the temp seed.

• There’s also a 2+ hours support session on their Youtube channel: COLDCARD Hack Support w/ Bitcoin Mentor Team

• also released a comprehensive guide:

Watchman's Torch by Escape the Technocracy

Coldcard: The Devastation Begins

Episode 229 of The Watchman Privacy Podcast – Coldcard: The Devastation Begins…

Listen now

a month ago · 3 likes · Gabriel Custodiet

Don’t throw out your old device

One more thing: don’t throw out your old device once you’ve migrated. If you ever pursue a police report or your stolen coins are recovered, your original Coldcard may be needed to prove you owned the seed, tied to the hardware ID on the processor. Because the seeds are trivially brute forceable, having the seed alone is not enough to prove you’re the rightful owner.

If you’re on a Trezor

Trezor itself confirmed its own devices are safe, and not affected by this specific issue, since it’s a Coldcard codebase problem, not a shared industry flaw:

However, if you generated your seed on an affected Coldcard and later moved that same seed onto a Trezor, you are still affected, moving a weak seed to a different device doesn’t fix the weakness:

Also:

Investigation update

Security researcher Clay Garrett shared new findings on how the attacker operated during the sweeps:

Act now

I’m so sorry for everyone who’s been hurt by this. Self custody means you’re not trusting a bank or an exchange and that you’re responsible. It doesn’t mean you’re not trusting anyone. You’re still trusting that the device’s engineering actually did what it claimed to do. Open-source firmware helped this get found fast, but it still took a live exploit for anyone to catch it.

If you have a Coldcard, don’t wait. Act now and migrate today. And if you know someone who has one and might not be following this closely, send them this article please.

P.s. Additional resources

released a good interview on the topic too:

TFTC also put together a comprehensive guide:

And released a video guide too:

Checkonchain Bitcoin Newsletter

⚠️ PSA: Addressing The Coldcard Exploit

Read more

a month ago · 43 likes · 20 comments · James Check (Checkmatey)

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→ Download the free report on second citizenships & setting up a plan B in another country with Expat Money: https://expatmoney.com/efrat

Ledn

→ Access liquidity without selling your Bitcoin with Ledn — learn more at https://ledn.io/Efrat

Trezor

→ Get your TREZOR bitcoin wallet & accessories, with a 5% discount, using my code at checkout (get my code from my podcast episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

Disclaimer: Products sponsored, advertised, or discussed on this newsletter, blog or podcast are not guaranteed to be risk-free, safe, or suitable for everyone. Listeners must do their own research and exercise their own judgment before purchasing or using any product or service. To the fullest extent permitted by law, the podcast, blog, its hosts and producers disclaim liability for any loss or damages arising from the use of or reliance on any product or service discussed or promoted on the podcast or blog.

I’ve been living a nomad life for a while now. Bali, El Salvador, Australia, Vietnam, Spain, Ireland and many more places.

I experience different currencies, I learn about tax systems, rules.

Now - it’s not easy knowing where to settle down. There’s no one perfect place, I personally believe your personal checklist is unique to you, and your shortlist will be set depending on what’s important to you.

But heres one thing I’ve learned which I want to share with you: the concept of freedom, on the physical geographical aspect - It’s a structure you build deliberately.

Because governments can freeze your bank account. Restrict your movement. Close their borders overnight. We saw it during Covid. Now during the recent Middle East wars I felt it again.

Also life in the “west” - is not becoming easier, let’s admit it.

That’s why I believe in having a Plan B. A second residency. A second passport. Somewhere else to go if and when things go sideways.

I’m glad to share I partnered with Expat Money, founded by Mikkel Thorup, who has lived in nine countries, visited over 100, and spent two decades helping people build exactly this kind of structure.

He put together a free report on Plan B residencies and instant citizenships. Places like Panama, with an interesting territorial tax system - for example if your income is earned outside the country, you owe nothing to the government.

Or Vanuatu, where you can get citizenship by investment in as little as three months, and pay in Bitcoin.

Or Bulgaria, where an investor visa requires no residency to keep it active, and can fast-track you to citizenship in as little as 18 months.

The report outlines various paths to a second passport. Dozens of country programs, and It’s free.

Let me know in the comments if there are specific countries you want to learn more about, or specific tools like offshore banking, passports or tax residencies.

Efrat ♥️

My keynote from Prague:

Connect with me:
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Sponsors:

Expat Money

→ Download the free report on second citizenships & setting up a plan B in another country with Expat Money: https://expatmoney.com/efrat

Watch my episode with Mikkel for more:

Ledn

→ Access liquidity without selling your Bitcoin, get 0.25% off your first loan: https://ledn.io/Efrat

Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Join me at any of these conferences or events:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

Presenting it on Prague’s massive stage last month was a very moving moment for me. I felt like I’m combining my lived experience of building resilience, my “old” expertise of creating value-driven brands and identities, with my newfound wisdom on spirituality, digital and physical freedoms. These are all ingredients in my life’s recipe, and how I build and maintain resistance and sovereignty, step by step, day by day. I hope this inspires you and moves you to action.

“Banned or censored by Stripe, Telegram, Substack, and LinkedIn, all in one year. Efrat Fenigson took the BTC Prague stage and laid out what’s next: digital ID in 27 countries, message scanning, VPN bans. Bitcoin solved the money layer. This talk is about the rest.
What does Efrat’s sovereignty framework look like? Identity, Infrastructure, voice and value, on the physical, digital and spiritual levels.”

Please help me beat the evil algorithms, with a share on X, a comment on Youtube/Spotify, or a zap on Fountain. Also consider my sponsors & affiliates offers, that helps support my work, indirectly.
Thank you!
Efrat ♥️

More from BTC Prague 2026:

Connect with me:
Twitter | YouTube | Instagram | Nostr | My podcast | All other links

Sponsors:

Expat Money

→ Download the free report on second citizenships & setting up a plan B in another country with Expat Money: https://expatmoney.com/efrat

Ledn

→ Access liquidity without selling your Bitcoin, get 0.25% off your first loan: https://ledn.io/Efrat

Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Join me at any of these conferences or events:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

Follow Dave: Twitter | Dave’s website

Takeaways:

• A government that stops fearing its own people has stopped governing and started extracting. When the incentive to maintain public trust disappears, what remains is simple predation dressed up in bureaucratic language.

• Real power today isn’t concentrated by armies anymore, it’s distributed by asymmetric tools. Once a rice farmer with a rifle can outlast a superpower’s military, and a Bitcoiner can move his savings past any border with a seed phrase, the old math of who gets to rule quietly stops working.

• A concrete pad worth $12,000 becoming a $600 million government lease is what happens when a system has never once been forced to answer for its behavior. Corruption doesn’t need to hide when there are no consequences waiting on the other side.

• Pain, not persuasion, is what finally breaks the spell of national identity (for some). People stay loyal to systems that fail them right up until the failure lands in their own kitchen, at which point ideology gives way to survival instinct.

• Wealth follows freedom, and freedom follows the people willing to build somewhere it still exists. Alberta didn’t attract Bitcoin custodians and miners by accident, it attracted them because a place still had room for the property rights capital requires.

• Regulation applied honestly ends up revealing which institutions never actually wanted to follow their own rules. The companies that hand over customer data without a court order were protecting their own convenience, not their customers.

• Younger generations don’t need to be persuaded by ideology when the math of their own lives already tells the truth. A twenty-two-year-old who can’t get a first job doesn’t need a lecture on economics, he needs someone to explain why the door is locked.

• Bitcoin functions as the exit that makes every other negotiation possible. Knowing you can always opt out changes the posture you bring to fighting for change from within, because desperation stops being the only option left on the table.

• The most radical act available to an ordinary person right now might be opting out quietly rather than fighting loudly. Moving your money, your business, or your family somewhere freer (for those to choose to move and not stay and fight) starves a failing system of the resource base it depends on, in a way no protest ever could.

Connect with me:
Twitter | YouTube | Instagram | Nostr | My podcast | All other links

Sponsors:

Expat Money

→ Download the free report on second citizenships & setting up a plan B in another country with Expat Money: https://expatmoney.com/efrat

Watch my episode with Mikkel for more:

Ledn

→ Access liquidity without selling your Bitcoin, get 0.25% off your first loan: https://ledn.io/Efrat

Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Join me at any of these conferences or events:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

When people experience hardship but choose to build out of their breakdowns, rather than hate or fight, it resonates. When they do it simply, humbly, connected to nature, it amplifies that resonance. I’ve been planning my visit to Costa Rica for a while. After watching the film, I can’t wait for that experience.

The film is directed by DirectorHodl & produced by Paul Keating, exploring the origins of an organic farmer’s market in Uvita, Costa Rica, in the Bitcoin Jungle community, weaving together themes of trust, spirituality, and an ancient myth known as the prophecy of the eagle and the condor. By diving into the profound impact of colonialism in Central America, the film examines how institutions like the IMF and World Bank have shaped the region over time, illuminating how Bitcoin has arisen within the community as a natural response to a systemic problem. If you wish, support the film and his independent creators here.

Watch my episode with Paul Keating, the producer and overall awesome guy:

→ Please like, comment & share. Thank you!

→ Hummingbird website

Connect with me:
Twitter | YouTube | Instagram | Nostr | My podcast | All other links

Sponsors:

Expat Money

→ Download the free report on second citizenships & setting up a plan B in another country with Expat Money: https://expatmoney.com/efrat

Ledn

→ Access liquidity without selling your Bitcoin with Ledn — learn more at https://ledn.io/Efrat

Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off

“They’re trying to control the rails to Bitcoin as much as they can, if they have control over that, they’ll ‘allow you to play with your Bitcoins’.”

I was hosted last night on Simply Bitcoin’s live show, discussing agenda 2030, the digital panopticon & my sovereignty framework, (ignore Saylor’s click bait), start at 49:50:

More about my “sovereignty framework” next week when my BTC Prague keynote is finally out.

In the meantime, check out my new reel about the Plan B FREE report:

Connect with me:
Twitter | YouTube | Instagram | Nostr | My podcast | All other links

Sponsors:

Expat Money

→ Download the free report on second citizenships & setting up a plan B in another country with Expat Money: https://expatmoney.com/efrat

Watch my episode with Mikkel for more:

Ledn

→ Access liquidity without selling your Bitcoin, get 0.25% off your first loan: https://ledn.io/Efrat

Trezor

→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it)

Abundant Mines

→ Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines. A month of free hosting for my followers:

Special offers:

→ Get 15% off “Born To Be Free” all-natural, tallow-based skincare products on a bitcoin standard, using code EFRAT: https://oshi.link/1nvZYq

→ Join me at any of these conferences or events:

→ Get 10% off on Augmented NAC to detox the Spike protein, using the code: YCXKQDK2, and this link. (Please note, this is not medical advice and you should consult your MD). Watch the episode with Tina below.

→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - use code EFRAT for 10% off