tags: Bitcoin has many properties. It's influence on your psyche is probably its most powerful.

content:
Marty's Bent
------------

[![Bitcoin: The Greatest Founder's Coach Out There](https://www.tftc.io/content/images/2025/09/Screenshot-2025-09-29-at-1.50.20---PM.png)](https://x.com/TFTC21/status/1972693315695833320?ref=tftc.io)

via [TFTC](https://x.com/TFTC21/status/1972693315695833320?ref=tftc.io)

![Bitcoin: The Greatest Founder's Coach Out There](https://www.tftc.io/content/images/2025/09/martybent_A_man_sitting_at_his_desk_weighing_two_things_on_a_ba_324ba7e2-0721-4109-b7ee-4a6235ffa756.png)

I had the pleasure of sitting down with my friend Luke Thomas last Friday to record an episode of the TFTC podcast:

Luke has been instrumental in helping me think about how we're building the business side of things at TFTC for a few years now. He's someone I greatly admire and has always been incredibly generous with his time and has been more than willing to knowledge share as it pertains to trends he's seeing in AI, marketing and business building. When you find the time, I highly recommend you check out our discussion. Especially if you're curious to learn about the state of AI, how businesses are applying it correctly and incorrectly, what businesses will thrive moving forward and the intersection of AI and bitcoin.

I won't spoil the whole conversation, but I wanted to expand on one of the topics we discussed; viewing bitcoin as a "founder's coach". This is a concept that we have never articulated in this way, but is core to everything we do at [Ten31](https://www.ten31.xyz/?ref=tftc.io). If you've been reading this newsletter for long enough I'm going to take it that you've also been holding bitcoin and if you've been holding bitcoin for long enough I'm going to assume that it has rewired your brain in terms of how you approach your personal finances. Once you experience the positive benefits of holding bitcoin as it monetizes and increases in purchasing power, you are inevitably forced to audit everything else in your life that you allocate money to and seriously weigh the opportunity costs.

"Would my money be better spent at the bar, or does it make more sense save some money and buy some bitcoin instead?"

"Should I stretch for that second home we'll only live in for a couple of months a year, or should I buy bitcoin instead?"

"Am I working hard enough? Are there other things I could be doing on the side to make more money to save in bitcoin?"

Bitcoin forces you to see the opportunity cost in everything. The impetus for us creating the [Opportunity Cost](https://www.opportunitycost.app/?ref=tftc.io) extension was to help make this process easier and crystal clear.

But, as Luke notes and we viscerally understand at Ten31, this same concept applies to businesses and the founders who run them. Once you put bitcoin on your company's balance sheet, it immediately goes to work as a founder's coach that forces you to considerably weigh opportunity costs, lights a fire of urgency under your ass to scale revenue and profitability as quickly as possible, and - most importantly - think with a very long-term perspective in mind. Every decision is met with the nagging question, "Is this going to help us accumulate more bitcoin?"

We've seen bitcoin's role as a founder's coach have profound effects on the companies we've invested in at Ten31. Many of the companies in our portfolio have raised money, allocated a material portion of their raise to establish a bitcoin treasury, and have had the luxury of not having to go back to the market to raise and dilute their equity. On top of this, with the opportunity cost of capital allocation brought to the fore of every decision made within the company, which has enabled companies to scale revenue and reach profitability with team headcounts that are far smaller than what the startup world has come to expect over the last three decades.

Jack Mallers talks about this a lot in regards to what he and his team have built at Strike. They are six years old, very profitable, scaling extremely fast, have more operational exposure globally than Coinbase and have done so with a head count lower than 100.

The founder's coach feature of bitcoin is profoundly powerful for individual companies. I've seen it up close and personal here at TFTC and across the portfolios of companies we're invested in at Ten31. I can only imagine the compounding second and third order effects on the economy, quality of life and the strength of the human experience when every company runs on a bitcoin standard.

It's fitting that I had this conversation with Luke on Friday and committed to writing about this part of our conversation today because I just landed in Utah for our annual Ten31 portfolio company retreat. I'll be spending the next few days with the Ten31 team and executives from our portfolio to expand on this idea, many others and how we can work harder and smarter to bring about a bitcoin standard.

We're going to win.

* * *

### This Will Be the "Most Hated Rally" of the Next Decade

Jeff Walton predicts Bitcoin treasury strategies will spark the most despised market rally of the next decade. He argues this hatred stems from a fundamental clash of worldviews - traditional finance professionals can't grasp why companies should hold Bitcoin, while many Bitcoiners don't understand sophisticated leverage strategies. This creates a perfect storm of misunderstanding from both camps.

> "Risk is mispriced globally... I think there will be a risk repricing over time that is just going to confuse so many people."- [Jeff Walton](https://x.com/PunterJeff?ref=tftc.io)

Walton believes these strategies are fundamentally reshaping finance by demonstrating that Bitcoin-backed securities offer superior risk-adjusted returns compared to traditional corporate debt. As more companies adopt these strategies and outperform traditional investments, the entire financial world will be forced to reconsider basic assumptions about value, risk, and corporate treasury management - a painful but necessary evolution.

Check out the [full podcast here](https://youtu.be/EAjpgYWZ2zk?ref=tftc.io) for more on M&A strategies, Bitcoin-backed credit instruments and S&P 500 inclusion dynamics.

* * *

### Headlines of the Day

[BLS Halts Data if US Government Shuts Down](https://x.com/WatcherGuru/status/1972697688635289727?ref=tftc.io)

[Bitcoin Credit Enables Free Market Soft Landing](https://x.com/TFTC21/status/1972684793956479394?ref=tftc.io)

[Momentum Builds on COVID Vaccine Exposures](https://x.com/TFTC21/status/1972718516550684954?ref=tftc.io)

[Coinbase CEO Bullish on Legislation](https://x.com/WatcherGuru/status/1972714511821156780?ref=tftc.io)

[Gold Hits All-Time High Above $3830](https://x.com/BitcoinMagazine/status/1972710018119074021?ref=tftc.io)

* * *

### Bitcoin Has Crossed the Rubicon

This extended $75k–$110k range has caused some to wonder if the bull run is exhausted. But what if the on-chain evidence tells a totally different story? Join James Check (Checkmate of Checkonchain) and Connor Dolan for a data-driven discussion on what a maturing bitcoin market means for the road ahead.

James will break down:

*   Institutions reshaping the cycle: ETF flows and institutional allocator demand setting higher floors
*   Chopsolidation: why time-pain in the $75k–$110k range signals resilience, not
    exhaustion
*   Conviction on display: heavy distributions absorbed while long-term holders remain in control

On-chain metrics show bitcoin has crossed the Rubicon—from a nascent store of value into a true institutional-grade asset class. This session will help you understand what that means for this bull market and beyond—and how you might position yourself appropriately.

**Tuesday, September 30th at 3PM CT — online, free to attend.**

[![Bitcoin: The Greatest Founder's Coach Out There](https://www.tftc.io/content/images/2025/09/D1-copy-1.png)](https://unchnd.co/3Ve67mv?ref=tftc.io)

[Register Now](https://unchnd.co/3Ve67mv?ref=tftc.io)

* * *

### Obscura – The World’s Best VPN Built by Bitcoiners

Created by Carl Dong (former Bitcoin Core contributor), unlike other VPNs, it _can’t_ log your activity by design, delivering verifiable privacy you can trust.

[![Bitcoin: The Greatest Founder's Coach Out There](https://www.tftc.io/content/images/2025/08/newsletter-1.jpg)](https://obscura.net/?ref=tftc.io)

[USE CODE TFTC25](https://obscura.net/?ref=tftc.io)

**Outsmarts internet censorship**: works even on the most restrictive Wi-Fi networks where other VPNs fail.
**Pay with bitcoin over Lightning:** better privacy and low fees.
**No email required:** accounts are generated like bitcoin wallets.
**No trade-offs**: browse freely with fast, reliable speeds.

**Exclusive Deal for TFTC Listeners:**
Sign up at [obscura.net](https://obscura.net/?ref=tftc.io) and use code **TFTC25** for **25% off your first 12 months**.

Now available on **macOS, iOS, and WireGuard**, with more platforms coming soon — so your privacy travels with you wherever you go.

* * *

_Ten31, the largest bitcoin-focused investor, has deployed $200M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at_ [ten31.vc/invest](https://ten31.vc/invest?ref=tftc.io)_._

* * *

**Final thought...**

I'm honored to know the REAL John Arnold.

* * *

_Download our free browser extension, **Opportunity Cost**:_ [https://www.opportunitycost.app/](https://www.opportunitycost.app/?ref=tftc.io) start thinking in SATS today.

_Get this newsletter sent to your inbox daily:_ [_https://www.tftc.io/bitcoin-brief/_](https://www.tftc.io/bitcoin-brief/)

_Subscribe to our YouTube channels and follow us on Nostr and X:_

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tags: Luke Thomas shows how AI agents and Bitcoin treasuries give startups unbounded leverage and force smarter capital allocation.

content:
Key Takeaways
-------------

![TFTC - The AI Boom Will Change Bitcoin Forever! Expert Explains How | Luke Thomas](https://www.tftc.io/content/images/2025/10/Luke-Thomas.jpg)

Marty sat down with Luke Thomas, founder of [Formable.ai](https://formable.ai/?ref=tftc.io), who argues that AI and Bitcoin together represent a once-in-a-generation shift in how businesses form, operate, and scale. He frames AI as “unbounded leverage,” where startups can achieve outsized results with far fewer resources, while Bitcoin serves as a financial foundation that forces founders to think more carefully about capital allocation. Startups that embrace AI agents as digital co-workers can move faster than incumbents weighed down by tech debt, rigid structures, and resistant employees. Meanwhile, Bitcoin rewires treasury management, creating a new “hurdle rate” for profitable businesses: outperform Bitcoin or risk irrelevance. Luke emphasizes that small businesses have the greatest advantage, since they can adopt AI and Bitcoin without bureaucratic baggage, enabling new models of growth and capital preservation in a chaotic, shifting landscape.

Best Quotes
-----------

“We actually want to beat the hurdle rate. We want to beat the Bitcoin appreciation rate. If we don’t, we’re cooked.”

“AI agents are like little digital employees… they can contain a bunch of information about your business and do the job better than a human, because the agent doesn’t forget.”

“Most businesses sprinkle AI on top of old systems. Startups can rebuild from scratch and harness unbounded leverage.”

“Holding even a little Bitcoin on your balance sheet is like hiring a coach, it rewires how you think about building a business.”

“The number one benefit of a Bitcoin treasury isn’t price appreciation, it’s that it makes you a better founder.”

Conclusion
----------

This conversation highlights how AI and Bitcoin together are reshaping the future of business. AI delivers unprecedented productivity through digital co-workers, while Bitcoin disciplines capital allocation and provides a hedge against fiat debasement. Incumbents struggle under old-world structures, but startups that embrace these technologies gain an edge in speed, adaptability, and financial resilience. For Luke, the combination of AI’s unbounded leverage and Bitcoin’s financial foundation marks a paradigm shift: the businesses that adapt will thrive, while those that cling to legacy systems will fade.

Timestamps
----------

0:00 - Intro
0:45 - Luke’s Background
7:11 - Unbounded leverage, AI adoption struggle
13:54 - Osbcura & Bitkey
15:39 - AI evolution retrospective
22:59 - AI agents
30:05 - SLNT & Unchained
31:37 - AI disruption of incumbents
38:41 - Bureaucratic roadblocks
41:59 - AI arms race
51:22 - Product design and UX
55:31 - Building at Formable
1:01:50 - AI-first, decentralization
1:05:50 - Navigating hype
1:12:01 - AI at TFTC
1:20:32 - Bitcoin in the AI strategy
1:29:01 - Adoption timeline for Bitcoin treasuries

Transcript
----------

(00:00) When you're able to store your capital in a better way, are you going to hire that super senior leader that wants a ton of money and may not work out? Or you could just shovel that into Bitcoin. I think that it's going to be a wonderful thing for businesses. We actually want to beat the hurdle rate. We want to beat the Bitcoin appreciation rate. If we don't, we're cooked.
(00:19) These startups that come out of nowhere and it's like, hey, we went from 0 to 100 million in like 8 months. No one's ever seen that before. You don't see a lot of it in the news. You will see more of it. We live in an age where there's kind of this like concept of like unbounded leverage. Your balance sheet is clearly an area where there needs to be some amount of leverage as well.
(00:35) We're only starting to see the beginning in the decade plus I've been in tech. This is easily the biggest shift I've ever seen. Luke, this is uh a great pleasure for me. I've been waiting for this this episode for I think years now. Well, uh I'm definitely excited to be here and uh to all your listeners, I'm sorry.
(01:01) Uh there'll be lots of rants, lots of uh lots of uh unhinged maybe unhinged thoughts. Um but I'm really excited to be here. Well, you've had an open invite to the show for I think at least two years now, and you said you've been saying for two years, when the time's right, and I feel like I have something to say, I will let you know. And that happened a couple weeks ago, and here we are.
(01:25) um thinking of how to start off this episode. I think it's important for the audience to get context. Luke has been uh somebody who's helped me immensely behind the scenes here at TFTC think about thinking about how to position uh the brand and how to increase our SEO. Not only that, how to lean into this AI revolution.
(01:47) And I think just to start off the conversations, get a little history of your career, what you've built, where you've worked, what you're working on now, and what people may may learn if they stick around for the whole episode. Yeah, sure. So, I'll do my best to keep it short. Um, yeah. So, a little bit about me. Um, I grew up in the middle of nowhere in Maine.
(02:10) Uh, up until, uh, when I first went to college, I had always lived on a dirt road. Um, I grew up in a uh small town um in uh in central Maine. It was about 800 people. I think half of the town was on some form of general assistance. Um I was homeschooled growing up. Um I uh attended, yeah, a mixture of homeschooling, private schooling. Um in high school, I ended up getting into web design.
(02:36) Um because I wanted to customize my MySpace profile. I thought it would be cool and maybe uh maybe more girls would talk to me. Um and so uh so that's what I did. I ended up uh basically devoting call it half of day. So I would homeschool for half of the day and then for like the other half of the day I would go to what's called a vocational technical school.
(03:00) Um and uh you know I was in a class with a bunch of kids that wanted to create video games. And I thought web design was cool and I thought maybe there's something there. Little did I know that it would basically influence the rest of my life to date. Um, and so yeah, in high school I kind of learned how to code very uh I wasn't very good at it, but I started creating websites for, you know, small businesses. I ended up um graduating.
(03:24) I I went to school one year in Boston because I thought sports management be would be really fun. Turns out that spending, you know, tens of thousands of dollars a year for fizzed classes probably wasn't the best idea. So I ended up uh uh going to school for marketing and uh paid my way through school.
(03:44) Um kind of did the consulting thing, ended up graduating college uh and wanted to join the startup thing. And so um long story short, my wife and I the second we graduated, we moved um to Boston. I started working in early stage tech companies. I originally joined as an engineer. Um quickly realized I wasn't good at writing code.
(04:03) Uh but I I always viewed uh writing code as a means to an end. For me it was like I loved the uh to grow businesses. And so I ended up uh kind of falling into this uh industry called like growth um which is you know how to think about marketing through a programmatic um lens like a programmer would. And anyway, did that for a few years.
(04:28) Um, you know, learned SEO, learned a bunch of, you know, internet marketing techniques and ended up falling down the product rabbit hole largely because, you know, when you build, uh, when you're building like a startup that is, you know, uh, like a digital product, um, a lot of the growth work, so to speak, that you do ends up actually being product work.
(04:46) It's like how can you create a product where these these like flywheels that help you grow at a low cost. So, you know, for those are who are familiar with like Dropbox, right? It's like people sign up for Dropbox, they get free space. If you want more free space, you share it with a friend. I became very obsessed with that. Um, and ended up doing that for a while.
(05:03) Um, in 2019, I decided to make the plunge, decided to start a remote work um, software company. I saw a bunch of these um, you know, fully distributed companies building their own like internet is the best way of describing it. um Zapier and Stripe and all these kind of well-known uh remote companies had kind of hand rolled their own systems.
(05:26) So I started that and then six months later COVID hit um and so we experienced a lot of growth. Uh I did that for about two years but I ended up shutting the business down because I didn't see a clear path to scaling um on the revenue side in particular. So I ended up joining Zapier for about three years and uh went super deep there on AI and automation. And so yeah, in many ways a culmination of um what you know your listeners will probably hear is like maybe a little bit more of a deeper dive on AI, what it looks like um how it's changing things.
(05:56) Um I also uh left uh about two months ago and I'm I started a new company called Formable. We basically are making it easy for businesses to respond to inbound leads way faster. And so for a lot of businesses, um, you have a contact form on your website. When someone fills it out, they usually have a high level of intent. You want to get back to them as fast as you can.
(06:15) Well, we're building simple and easy to use tools that make it easy for businesses to get back to their c potential customers way faster using AI and automation and a better um data collection or form uh experience. So longterm though, we we want to build kind of a a new school uh marketing automation platform, which is just like making it easy for businesses of all shapes and sizes to um market in a way where you're leveraging AI as much as p


tags: The future banking stack is being built out right in front of you.

content:
Marty's Bent
------------

[![Bitcoin's iPhone Moment](https://www.tftc.io/content/images/2025/09/Screenshot-2025-09-24-at-10.32.59---PM.png)](https://x.com/macadamiacash/status/1970481871466455066?ref=tftc.io)

via [macadamia wallet](https://x.com/macadamiacash/status/1970481871466455066?ref=tftc.io)

![Bitcoin's iPhone Moment](https://www.tftc.io/content/images/2025/09/martybent_a_happy_young_man_throwing_cashews_at_another_happy_y_4c12e067-f1ea-4045-bd76-32b63b3fb97c.png)

The team at [macadamia](https://macadamia.cash/?ref=tftc.io), a bitcoin ecash wallet built on the Cashu protocol, launched a cool feature yesterday; the ability to send people bitcoin via ecash directly in Apple's iMessage. This is a very slick UX that makes sending bitcoin to people literally as easy as sending a text message.

I tested it out with a friend who didn't have a macadamia wallet yesterday and they were easily able to download the app and claim the ecash in their wallet within a couple of minutes. The experience makes me think that this will be a great way to onboard people to bitcoin in as straight forward a way as possible. Send them ecash via the macadamia extension, they click the link, download the app, quickly connect to a mint, and redeem the bitcoin in a couple seconds. From there, they have an ecash wallet that is interoperable with the lightning network and other second layers connected via the lightning network and can begin accepting bitcoin rather trivially.

I've said it many times in recent months, but the broader "crypto" and tradfi markets are completely missing what is happening on top of bitcoin right now. While everyone is focused on bitcoin treasury companies, stablecoins and real world asset tokenization, bitcoiners are building the future tech stack of the distributed banking system on top of bitcoin. And not only that, the products being built are reaching parity with the UX of fintech products that hundreds of millions of people have become accustomed to.

With bitcoin wallets like macadamia, there is no need to understand the concept of gas fees, whether you're bridging an asset between chains or different roll up schemes, or whether or not your stablecoin will be compatible with the wallet of the person who is looking to receive it. It all just works. You can send ecash from macadamia to pay a lightning invoice and it will just work. And the best part is that you have way more privacy using ecash than you would on most other networks due to the fact that it leverages blinded signatures within the mint. The mint operator, while acting as a centralized custodian, has no idea who is sending or receiving ecash tokens within and out of the mint. It's a beautiful thing.

Pay attention to these Chaumian mint protocols, the wallets and markets built on top of them as they continue to progress.

* * *

### Traditional Risk Metrics Are Globally Mispriced

Jeff Walton argues we're witnessing a fundamental mispricing of risk across global markets. He points to Nvidia trading at 50x price-to-earnings while Bitcoin treasury companies trade at just 1.5x their net asset value, despite holding the world's hardest money. When Walton reprices corporate earnings in Bitcoin terms rather than fiat, he reveals that 99% of companies show declining earnings over time - a sobering reality masked by currency debasement.

> "If Chevron had spent 25% of their $70 billion buyback on Bitcoin, the value today would be worth more than their market cap."- [Jeff Walton](https://x.com/PunterJeff?ref=tftc.io)

This insight crystallizes the opportunity cost of traditional capital allocation. Walton emphasizes how companies with massive valuations like Nvidia ($4 trillion market cap) hold just $54 billion in actual capital, creating enormous risk gaps. The market's failure to properly price this gap between inflated valuations and real balance sheet strength represents a ticking time bomb that Bitcoin treasury strategies are positioned to exploit.

Check out the [full podcast here](https://youtu.be/EAjpgYWZ2zk?ref=tftc.io) for more on Bitcoin treasury M&A strategies, perpetual preferreds, and S&P 500 inclusion dynamics.

* * *

### Headlines of the Day

BlackRock Fidelity ETFs Hit $2.27B Volume - via [X](https://x.com/BitcoinMagazine/status/1970960060189999494?ref=tftc.io)

Plebstyle Launches Quiet 4.8 TH/s Bitcoin Miner - via [X](https://x.com/TFTC21/status/1970934382555963541?ref=tftc.io)

100 BTC Now Needed for Top Treasury Ranking - via [X](https://x.com/TFTC21/status/1970921266497642732?ref=tftc.io)

Indeed Job Postings Drop 8% Year Over Year - via [X](https://x.com/TFTC21/status/1970907556894982571?ref=tftc.io)

Global M2 Money Supply Nears All-Time High - via [X](https://x.com/BitcoinMagazine/status/1970876279131091299?ref=tftc.io)

* * *

### Bitcoin Has Crossed the Rubicon

This extended $75k–$110k range has caused some to wonder if the bull run is exhausted. But what if the on-chain evidence tells a totally different story? Join James Check (Checkmate of Checkonchain) and Connor Dolan for a data-driven discussion on what a maturing bitcoin market means for the road ahead.

James will break down:

*   Institutions reshaping the cycle: ETF flows and institutional allocator demand setting higher floors
*   Chopsolidation: why time-pain in the $75k–$110k range signals resilience, not
    exhaustion
*   Conviction on display: heavy distributions absorbed while long-term holders remain in control

On-chain metrics show bitcoin has crossed the Rubicon—from a nascent store of value into a true institutional-grade asset class. This session will help you understand what that means for this bull market and beyond—and how you might position yourself appropriately.

**Tuesday, September 30th at 3PM CT — online, free to attend.**

[![Bitcoin's iPhone Moment](https://www.tftc.io/content/images/2025/09/D1-copy-1.png)](https://unchnd.co/3Ve67mv?ref=tftc.io)

[Register Now](https://unchnd.co/3Ve67mv?ref=tftc.io)

* * *

_Ten31, the largest bitcoin-focused investor, has deployed $200M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at_ [ten31.xyz](https://ten31.xyz/?ref=tftc.io)_._

* * *

**Final thought...**

Getting better at writing when I really don't want to.

* * *

_Download our free browser extension, **Opportunity Cost**:_ [https://www.opportunitycost.app/](https://www.opportunitycost.app/?ref=tftc.io) start thinking in SATS today.

_Get this newsletter sent to your inbox daily:_ [_https://www.tftc.io/bitcoin-brief/_](https://www.tftc.io/bitcoin-brief/)

_Subscribe to our YouTube channels and follow us on Nostr and X:_

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[![Bitcoin's iPhone Moment](https://www.tftc.io/content/images/2025/03/yt.png)](https://youtube.com/@TFTC?feature=shared&ref=tftc.io)

[![Bitcoin's iPhone Moment](https://www.tftc.io/content/images/2025/03/insta.png)](https://www.instagram.com/tftc.io/?ref=tftc.io)

[![Bitcoin's iPhone Moment](https://www.tftc.io/content/images/2025/03/twitter.png)](https://twitter.com/TFTC21?ref=tftc.io)

[![Bitcoin's iPhone Moment](https://www.tftc.io/content/images/2025/03/primall.png)](https://primal.net/tftc?ref=tftc.io)


Marty's Bent
------------

[![The Great Debasement Trade Is On And Bitcoin Is Positioned Beautifully](https://www.tftc.io/content/images/2025/10/Screenshot-2025-10-02-at-9.30.48---AM.png)](https://x.com/elerianm/status/1973755997173989595?ref=tftc.io)

via [Mohamed A. El-Erain](https://x.com/elerianm/status/1973755997173989595?ref=tftc.io)

![The Great Debasement Trade Is On And Bitcoin Is Positioned Beautifully](https://www.tftc.io/content/images/2025/10/martybent_a_money_printer_printing_in_overdrive_with_its_operat_4bb1ae8f-ba44-43cf-bd38-d3409a54612c.png)

Last week was a good week for bitcoin and the momentum seems to be increasing as this week begins. Today we saw a new all-time high above $126,000. It seems like we're about to hit escape velocity after multiple periods of chopsolidation between $80,000 and $110,000 throughout the year. As is tradition, the engine started revving at the tail end of September and the car left the garage in early October. This Fall should be a fun one.

Why is this happening?

I believe because the world is finally waking up to the fact that governments around the world are objectively bankrupt and their only way out of it is to completely debase their currencies. Last week, JP Morgan analysts revealed that they've been asking their clients why they're allocating to assets like gold and bitcoin to which they replied,"the world is on fire, inflation doesn't seem to be tamed, government deficits dictate more debt creation to paper over the existing debt, the Fed is clearly not independent anymore, fiat currencies are kind of whack when you think about them, and it's obvious that the dollar has fallen out of favor with some of the world's superpowers." The JP Morgan analysts have cleverly coined the trend of funneling your money into neutral reserve scarce assets as the "debasement trade". I'm not going to lie, it has a nice ring to it. It also validates one of the core themes of this newsletter and the discussions we've been having on the podcast for the last eight years.

The year is 2025 and longtime bitcoin skeptics like Mohamed El-Erian are finally waking up to the fact that more people are beginning to recognize this. The world has a problem. The denominators of the measurements of value (fiat currencies) are increasing at an accelerating pace, prices are rising and people are struggling as a result. The expansion of the denominators of value measurement is not only bad for the lower classes who feel the pressures immensely, it is also bad for the upper classes who are experiencing what I refer to as a "wealth mirage". Their stock tickers are moving up and to the right, and it makes them feel good inside. However, it is a mirage because the stock gains are barely keeping up with REAL inflation and are getting absolutely demolished by the returns of hard assets like bitcoin and gold. Luke Gromen made this abundantly clear last week when he charted the "debasement trade" by measuring stock indices and real estate returns in dollars, gold and bitcoin.

[![The Great Debasement Trade Is On And Bitcoin Is Positioned Beautifully](https://www.tftc.io/content/images/2025/10/Screenshot-2025-10-06-at-11.50.16---PM.png)](https://x.com/LukeGromen/status/1974184554782220583?ref=tftc.io)

via [Luke Gromen](https://x.com/LukeGromen/status/1974184554782220583?ref=tftc.io)

How long will bitcoin have to continue winning this dominantly before everyone bends the knee and makes a material allocation to bitcoin to avoid the consequences of global debt debasement? I don't think that long. After almost 17-years of beating the memetic drum of "fiat currencies bad", "number go up", "nothing stops this train", "centralized third parties are security holes", and a number of other easily digestible phrases that cut to the core of the world's problem, the people with immense amounts of capital are beginning to wake up. And I have a feeling that the normalization of the "debasement trade" will be the snowflake that causes the avalanche. Recognizing that debasement is the only way out of the debt problem has just been made "cool" in the eyes of some of the most respected institutions in the world. Whether or not that respect is deserved doesn't really matter. What matters is that people, rightly or wrongly, respect these institutions and act based off what they say.

Buckle up.

* * *

### Digital Transformation Must Include Financial Innovation

Luke Thomas argues that companies embracing AI while ignoring Bitcoin for treasury management are living a contradiction. He points out that VCs encourage startups to "embrace technology in every part of the business" except the balance sheet - a glaring inconsistency in the digital transformation narrative. As Luke notes, "digital transformation exists everywhere" and should naturally extend to how companies store value.

> "The balance sheet shouldn't be off limits from technological innovation."- [Luke Thomas](https://x.com/lukethomas14?ref=tftc.io)

I've seen this firsthand at TFTC and through our portfolio at 1031. Companies that truly understand digital transformation recognize Bitcoin as essential infrastructure, not speculation. Luke's observation cuts to the heart of Silicon Valley's selective blindness: you can't claim to be building the future while storing your value in the past.

Check out the [full podcast here](https://youtu.be/YPvmsknIMaU?ref=tftc.io) for more on AI agents replacing white collar jobs, startup disruption patterns, and homeschooling with AI.

* * *

### Headlines of the Day

[Goldman Sees More Institutions in Ethereum](https://x.com/WatcherGuru/status/1974132964704612728?ref=tftc.io)

[Russia Exchange Seeks End to Retail Bitcoin Ban](https://x.com/WatcherGuru/status/1974125383080624132?ref=tftc.io)

[Coinbase Samsung Partnership Enables Crypto Access](https://x.com/WatcherGuru/status/1974101727201902646?ref=tftc.io)

[Treasury Clarifies No Tax on Unrealized Bitcoin Gains](https://x.com/TFTC21/status/1973788506603597950?ref=tftc.io)

[JPMorgan Sees Bitcoin Upside to $165000 Versus Gold](https://x.com/TFTC21/status/1973802568532045989?ref=tftc.io)

[BlackRock ETF Surpasses 777000 Bitcoin Holdings](https://x.com/BitcoinMagazine/status/1974074683655155907?ref=tftc.io)

* * *

### Obscura – The World’s Best VPN Built by Bitcoiners

Created by Carl Dong (former Bitcoin Core contributor), unlike other VPNs, it _can’t_ log your activity by design, delivering verifiable privacy you can trust.

[![The Great Debasement Trade Is On And Bitcoin Is Positioned Beautifully](https://www.tftc.io/content/images/2025/08/newsletter-1.jpg)](https://obscura.net/?ref=tftc.io)

[USE CODE TFTC25](https://obscura.net/?ref=tftc.io)

**Outsmarts internet censorship**: works even on the most restrictive Wi-Fi networks where other VPNs fail.
**Pay with bitcoin over Lightning:** better privacy and low fees.
**No email required:** accounts are generated like bitcoin wallets.
**No trade-offs**: browse freely with fast, reliable speeds.

**Exclusive Deal for TFTC Listeners:**
Sign up at [obscura.net](https://obscura.net/?ref=tftc.io) and use code **TFTC25** for **25% off your first 12 months**.

Now available on **macOS, iOS, and WireGuard**, with more platforms coming soon — so your privacy travels with you wherever you go.

* * *

### Bitcoiners: Don’t let nefarious actors steal your sats.

SLNT's patented Faraday backpacks, sleeves, and dry bags secure your hardware wallet or electronics against hackers and solar flares.

Block WiFi, GPS, RFID, and EMPs with our MIL-STD compliant tech. Made in the USA, trusted by 8 military contracts. Protect your wealth, stay untraceable.

Add Faraday protection to your stack here: [https://slnt.com/tftc](https://slnt.com/pages/tftc?ref=tftc.io) & use code _TFTC for 15% off_

[![The Great Debasement Trade Is On And Bitcoin Is Positioned Beautifully](https://www.tftc.io/content/images/2025/09/Reclaim-your-privacy.png)](https://slnt.com/pages/tftc?ref=tftc.io)

[Use Code: TFTC](https://slnt.com/pages/tftc?ref=tftc.io)

* * *

_Ten31, the largest bitcoin-focused investor, has deployed $200M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at_ [ten31.vc/invest](https://ten31.vc/invest?ref=tftc.io)_._

* * *

**Final thought...**

The Phillies are disappointing.

* * *

_Download our free browser extension, **Opportunity Cost**:_ [https://www.opportunitycost.app/](https://www.opportunitycost.app/?ref=tftc.io) start thinking in SATS today.

_Get this newsletter sent to your inbox daily:_ [_https://www.tftc.io/bitcoin-brief/_](https://www.tftc.io/bitcoin-brief/)

_Subscribe to our YouTube channels and follow us on Nostr and X:_

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[![The Great Debasement Trade Is On And Bitcoin Is Positioned Beautifully](https://www.tftc.io/content/images/2025/03/yt.png)](https://youtube.com/@TFTC?feature=shared&ref=tftc.io)

[![The Great Debasement Trade Is On And Bitcoin Is Positioned Beautifully](https://www.tftc.io/content/images/2025/03/insta.png)](https://www.instagram.com/tftc.io/?ref=tftc.io)

[![The Great Debasement Trade Is On And Bitcoin Is Posi


tags: Whitney Webb reveals how Epstein ties, digital IDs, and transhumanism drive a surveillance grid, and why Bitcoin and local resilience are vital to resist.

content:
Key Takeaways
-------------

![TFTC - Whitney Webb Exposes Hidden Secrets About Epstein, Digital IDs & Transhumanism Plot | Mark Goodwin](https://www.tftc.io/content/images/2025/09/Whitney-Webb.jpg)

Whitney Webb and Mark Goodwin reveal how Epstein-linked ventures, predictive policing firms like Palantir, and digital ID mandates are converging into a global surveillance-financial control grid. From Vietnam’s mass biometric debanking to the U.S. Genius Act’s quiet push for digital ID, governments are exploiting crises to centralize power, censor dissent, and restrict financial freedom. This is part of a broader transhumanist agenda championed by elites like Peter Thiel and Curtis Yarvin, who envision a techno-feudal order. Yet resistance is possible through Bitcoin, Nostr, open-source AI, local self-reliance, and community resilience.

Best Quotes
-----------

“Carbine 911 was financed heavily by Jeffrey Epstein… now they’ve slowly taken over the 911 call systems of counties across the United States.”

“In the U.S., it looks like it’s going to slide in with the Genius Act, framed as an essential pillar to financial regulation.”

“Vietnam closed 84 million bank accounts, telling people they could be rebanked if they agreed to biometric ID.”

“They capitalize on real tragedies to justify bigger budgets, more control, and removal of liberties, it’s the same strategy of tension used for decades.”

“Their goal is a humane alternative to genocide: virtualizing the unproductive into pods with immersive VR… a rich, fulfilling life in a completely imaginary world.”

“Digital ID won’t work unless everybody complies. We need to normalize pushing back as much as possible.”

“The end result of cryptocurrency might literally be the U.S. Treasury running the entire financial system if people don’t fight back.”

“Go meet your neighbor, start a garden, raise chickens. Local resilience is how we resist being herded into digital corrals.”

Conclusion
----------

The episode warns that crises, whether mass shootings, terrorism, or financial shocks, are being used to justify an expanding technocratic state, threatening privacy, sovereignty, and freedom. But the antidote lies in building parallel systems: decentralized tools like Bitcoin and Nostr, independent media, and local networks of trust and resilience. The battle is between compliance with digital serfdom or proactive steps toward sovereignty.

Timestamps
----------

0:00 - Intro
1:42 - Palantir mafia and stablecoins
7:57 - Vietnam debanking
10:48 - Noncompliance and speech laws
19:44 - Obscura & Bitkey
21:29 - Precrime infrastructure
30:28 - Platform pressure
34:32 - Al-Qaeda's diplomatic welcome
37:35 - Great Reset rebrand
44:48 - Elite transhumanists
56:29 - SLNT & Unchained
58:01 - Patriot Act expansion
1:04:52 - Manufactured political division
1:23:34 - AI independence and physical media
1:38:58 - Touch grass

Transcript
----------

(00:00) He said, quote, "Our goal, in short, is a humane alternative to genocide, the removal of undesirable elements from society, but without any of the moral stigma. A virtualized human is in permanent solitary confinement. The cell contains an immersive virtual reality interface that allows him to experience a rich, fulfilling life in a completely imaginary world.
(00:25) " In 2019 specifically, they really started selling themselves as preventing mass shootings before they happened. Carbine 911 was financed heavily by Jeffrey Epste. Now, they've slowly taken over the 911 call systems of a litany of counties across the United States. Palanteer was specifically really created to be a pre-rime entity. When people like that say they're not spying on Americans, it's kind of hard to trust them.
(00:44) Kirsty is pushing through digital ID to stop illegal immigration, but it seems like in the US they're actually instead of sneaking it through border stuff, it's going to slide in with the Genius Act. the definition of how the government defines domestic terrorism. It includes people really on both sides of the divide.
(01:02) People that are against perceived government overreach, for example, they use whichever group is convenient to pander to their base to justify us giving up liberty for perceived security. A few of the platforms left where people can kind of have a somewhat of a public square, they're actually a centralized choke point. They're actually picking and choosing companies that have a less chance of being independent.
(01:19) The so-called libertarian elites behind people like JD Vance are very overtly transhumanist and think that the only way forward is to basically merge with machines. They are playing us against ourselves and some of them play the role of we're elites on this side and we're elites on the other side to help engineer the divide and conquer necessary to hurt us into this cattle pin.
(01:43) Guys, it's been 10 and 1/2 months since we since we last caught up. That's a long time. Jeez. A lot of time was we recorded uh I believe November 10th, 2025, which was 2 days after the election. We talked about Palunteer Mafia coming in. And when I was thinking about how to start this conversation, I'm sure you guys saw it, but Alex Karp at the All-In Summit very confidently letting the people of the United States know that Palunteer is not spying on individual Americans.
(02:14) At first I was like, "Oh man, maybe I've really misunderstood Palanteer." And then I was like, "Wait a second." Like, "How how is that possible?" Yeah. Do you remember when like James Clapper lied about how they were uh spying on Americans under oath and didn't get in trouble for it? Mhm. Yeah. I think when people like that say they're not spying on Americans, it's kind of hard to trust them given a lot of the precedents, you know. Yeah. James Clapper, NSA.
(02:43) The NSA is not going to work with Palanteer, though. They can't get the contracts. They don't spy enough. That's what was told. Well, um, pretty sure the contract for all 18 US intelligence agencies. Yeah. Well, I guess a year into the Trump admin, the the last episode we did was like what to expect the next four years.
(03:04) Um, and I think the crux of that conversation revolved around sort of financial stable coin implementation. And I think it's pretty clear that that was a very strong priority this administration. They passed the Genius Act rather quickly. Obviously, we're talking about the PayPal Palunteer Mafia getting more ingrained in the surveillance state here. That seems to be happening.
(03:29) Um, and I think one thing we highlighted was with the immigration policy, watch out for the border. digital IDs are probably um the borders where they're gonna basically Trojan horse digital IDs in. And so yeah, it I mean that's still possible. I think that's definitely what's happening in the UK though.
(03:50) So Kier Starmer is pushing through digital ID to stop illegal immigration, which um you know, previously the Labor Party in the UK was pushing it. You know, this is we're going to stop hate speech and stop online bullying. Um, but it seems like in the US they're actually instead of sneaking it through border stuff and on on those same, you know, um, justifications that the UK government is using, it looks like it's going to slide in with the Genius Act.
(04:14) Um, considering what they've, uh, some of the stuff they've put out asking for comment on uh, after its passage, sort of framing digital ID is an essential pillar to the implementation of um, of the Genius Act. So, so somebody somebody who uh prized himself on being on the cutting edge of all this, I was unaware that digital ID was tied into this. I I assume some KYC AML stuff, but didn't realize.
(04:38) Yeah, it's not it's not directly like there's nothing in the Genius Act specifically talking about digital ID. There's obviously a lot about know your customer and bank secrecy act stuff and and what have you, but I think the the bigger well well so as it relates to the Genius Act specifically, the Treasury did open up, you know, asking for comments and within that, you know, proposition asking for for public comment.
(05:04) they did bring up digital ID and um you know I think people like Lola Leites at the Rage has been covering a lot of the the Genius Act implications for like you know basically using articles of the Patriot Act to push towards a lot of this stuff which is obviously not good but I think what's actually kind of interesting is not so much about the US yet although I think that's it's pretty inevitable that that will come at some point but we're actually seeing the downstream effects of the stable coin legislation passing in the US, other places in the world now, like in the UK, they're limiting how many dollar stable coins or attempting to limit how many dollar
(05:38) stable coins a UK citizen can hold. Um and then we're seeing, you know, mass debanking in Vietnam. You know, I think it was something like 70 something million bank accounts um were closed. Um you know, basically saying, you know, we'll we'll rebank you if you agree to this biometric stuff and uh you know, basically implemented digital ID.
(06:07) Um, and I think the reason for that is, you know, when there's a proliferation of US dollar stable coins across the world and, you know, now there's even avenues for yield to be given to those stable coins, which we're going to see right at some point. Um, you know, why would any foreign national hold anything other than, you know, dollars? Hopefully, you know, Bitcoin if if if you're into that.
(06:31) Um, but why would you hold a local currency when you can hold dollars, get yield from it, and all you need to do to get to it is have, you know, a smartphone. So, I think countries around the world, the euro, you know, the ECB is now putting out comments being like, we're screwed if we let the dollar stable coins take over cuz why would


tags: Ashigaru Whirlpool is a ZeroLink coinjoin implementation designed to sever all deterministic links between inputs and outputs, ensuring enhanced bitcoin transaction privacy.

content:
[Contribute to keep No Bullshit Bitcoin news going.](https://geyser.fund/project/nobsbitcoin)

*   The Ashigaru Open Source Project has released [Ashigaru Whirlpool](https://ashigaru.rs/news/announcement-whirlpool/), a version of Samourai Wallet’s Whirlpool, allowing users to join Zerolink coinjoins for enhanced Bitcoin transaction privacy.

> "This has been a huge undertaking and effort for the Ashigaru Open Source Project over the last 6 months, having to get familiar and comfortable with the extensive code base across multiple repositories. It is for this reason our development on Ashigaru mobile has been quieter and slower during this period, and for this we hope our users may now understand our justification as to why," was stated in a blog post.

*   Ashigaru Whirlpool retains the core coinjoin cycle design by Samourai’s TDevD, ZeroLeak, and OXT’s LaurentMT, with various protocol enhancements added by the Ashigaru Open Source Project.
*   Alongside the coordinator code, the [project has launched](https://ashigaru.rs/news/release-terminal-v1-0-0/) a desktop client terminal application (available on Linux, macOS, and Windows), forked from [Sparrow Terminal](https://www.nobsbitcoin.com/sparrow-wallet-v1-7-0/).

[![Ashigaru Whirlpool and Terminal v1.0.0 Released](https://www.nobsbitcoin.com/content/images/2025/06/image-6.png)](news/release-terminal-v1-0-0/)

Source: [Ashigaru blog.](https://ashigaru.rs/news/release-terminal-v1-0-0/)

*   Ashigaru Terminal is a non-custodial Whirlpool client that lets users join chosen pools, enhance their transaction anonymity, and retain full control of funds during coinjoin cycles, without needing a personal Dojo server.

![Ashigaru Whirlpool and Terminal v1.0.0 Released](https://www.nobsbitcoin.com/content/images/2025/06/ashigarupool.jpg)

**NOTE:** _The_ [_Ashigaru.rs_](https://ashigaru.rs/) _website is the official home of the Ashigaru Open Source Project. The project does not maintain a presence on social media, and all second-hand information should be verified against the content on the official website._

What's new
----------

*   **Tor-Only Implementation**: Ashigaru Whirlpool operates exclusively over Tor, preventing clearnet connections to protect against IP address linking and wallet clustering by malicious coordinators.
*   **Tor identity isolation** is built in to prevent coordinators from linking session IDs across coinjoin stages, ensuring user network anonymity.
*   **Enhanced decentralization strategy:** The Tor-only setup eliminates DNS dependency and hides coordinator locations, supporting rapid deployment of new instances.

> "Our coordinator has been further modularized by eliminating the dependency of RPC connections to a local full node. The coordinator can therefore be connected to any Dojo full node over Tor, enabling faster deployment and recovery, minimal hardware resource requirements, and greater jurisdictional flexibility."

*   **Anti-Sybil Measures**: An Anti-Sybil fee, fixed at 5% of pool size, is charged for Tx0 broadcasts to enter pools, with a cap of 20 UTXOs per Tx0 for added Sybil resistance.
*   **Vulnerability Fixes**: RSA keys for Chaumian blinding are not sent to clients, mitigating potential input-output linking risks and building trust as a new development team.
*   **Output Restrictions**: Multisig addresses are barred as mix-to outputs in coinjoin cycles to maintain anonymity and compatibility with post-mix tools like Ashigaru mobile and Sparrow.
*   **Code Improvements**: Numerous under-the-hood fixes and optimizations have been made to Samourai’s forked codebase, including updated dependencies, enhanced performance, and architectural adjustments.
*   **Ashigaru Terminal**: Forked from Sparrow, Ashigaru Terminal defaults to .onion Electrum servers for privacy, with options for private server connections via Tor or clearnet.
    *   Only native SegWit Whirlpool account paths are supported for hot wallets, with mandatory BIP39 passphrases; unsupported wallet types include Legacy, Wrapped SegWit, Taproot, and multisig scripts.
    *   Tx0 fee estimation targets next-block confirmation, advising users to wait for lower rates if block space competition is high.

> "Remote and automatic update of Tor URLs for connecting to both Ashigaru Whirlpool and for transaction broadcast using our “Hanzaki” feature will be coming in a future release," was stated in a blog post.

Quick guide
-----------

*   Check out this [quick overview](https://k3tan.com/ashigaru-whirlpool/) by _k3tan_ to learn how to use the new Ashigaru Terminal:

> "My advice is to take a measured approach to this. This is new software and there may still be bugs. Start small, get comfortable, then level up progressively. Don't expect mixes straight away. It's important to be patient. Randomness of time intervals between mixes plays a role in obfuscating chainalysis. You should find using the interface overall quite responsive," [writes](https://k3tan.com/ashigaru-whirlpool/) k3tan.

*   Ashigaru Terminal is optimized for use with Sparrow Wallet, Ashigaru Mobile, and Samourai Wallet. These wallets support Whirlpool's unique account derivation paths and include spending tools tailored to maintain privacy during transactions from the pool.

[![Ashigaru Whirlpool and Terminal v1.0.0 Released](https://www.nobsbitcoin.com/content/images/2025/06/image-7.png)](https://xcancel.com/_k3tan/status/1937124159588556916)

[**Blog Post (Terminal)**](https://ashigaru.rs/news/release-terminal-v1-0-0/) / [Archive](https://archive.is/7Iv0W)
[**Blog Post (Whirlpool)**](https://ashigaru.rs/news/announcement-whirlpool/) / [Archive](http://archive.today/OIL7T)
[Gitea Repository (.onion link)](http://ashicodepbnpvslzsl2bz7l2pwrjvajgumgac423pp3y2deprbnzz7id.onion/Ashigaru)
[**K3tan's Guide**](https://k3tan.com/ashigaru-whirlpool/) / [Archive](https://archive.is/PZgO9)
[Website](https://ashigaru.rs/)


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content: もしかして人って食べたいもの食べていいのか

tags: A short note: もしかして人って食べたいもの食べていいのか


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2136 Block Reward 🍊


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jJh5C8B6Z4MZo3WcF1DbVmTFf+JYNdqEcHMsJQRaS/+2wV7wMG3cpHYw7hIKd4oJ?iv=1kCb/7Rx+Iqf/jqzJ7KngQ==


DukVPoDiT1FZJMylm83utWO+BbORhEM0LAWCrfnqCicaY6+TxvMlnJv/Oyaywjj487EYl1irPluyUUkkka1VHA==?iv=nv7Ar+aJVcrXsqoHaryTYA==


Hamas opnieuw zichtbaar op straat in Gaza ondanks belofte tot ontwapening

Sinds het ingaan van het staakt-het-vuren vorige week zijn strijders van Hamas weer openlijk zichtbaar op straat in de Gazastrook. De groep verdween tijdens de gevechten in de afgelopen twee jaar steeds vaker ondergronds, maar in delen van Gaza-Stad  [..] - https://nos.nl/l/2586394

https://cdn.nos.nl/image/2025/10/14/1281720/1024x576a.jpg

#nos #news #nieuws #dutch


光るノンアル飲む

https://video.nostr.build/e869e93835dd024f5f9583360f46536d4064f0d88293d7629ab74c9590d2f90d.mp4


DGgj2+lMcLMFrkcsRI42ET9S4gB9GKsewwt0/bXoumFALDUW0yfvGcqRN4DZymrL?iv=gyrzOpAkA/PYxDh9Me7iig==


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


Speaking of lightning… why i no can zap u? Lol I’m tryin’!


fSKHxHpOwPDzPs4/kjaT0jVJ4OFoOg139WcD1bQrz85PLAfAM/DDRAg91kWIceWS?iv=xTEQLhraaGOkIPTupt8wpA==


jVE34rvuHKs299m0aK1Kfg==?iv=0zb078u+nb3AuCGWmuixgg==


vivid nightmares all night mane.  ugh. give me my weedies. I'm never not smoking again. 😭


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有吉くん、ぶるすかやってるんだ


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text: 🎥 Check out this from #trailers : 📌 Title:

text: #Bitcoin:

text: being

text: spot ETFs

text: BlackRock’s

text: of the

text: a little

text: never

text: also

text: total

text: Maybe

text: I've

text: #ETF

text: you're

text: truly

text: increased

text: will be


6ZpS9VYlTF9D2w28t3WptB5Z/o0J9qWLexeGngFYMRI=?iv=0QOLcXxJDismYEXo6HOMXw==


Ehem

https://blossom.primal.net/08466c12fa56662279590c1470610ee9a1f0525094cd84b8b8145e416f2aa1d4.jpg


tags:
A short note: I wonder if i can do SSH over nrpc 🤭
nostr:nevent...

content:
I wonder if i can do SSH over nrpc 🤭
nostr:nevent1qqsqy5hmggqy2jacaxu4430np5m6rj9eflc65j4mfvk9qph6elmh9egpzamhxue69uhhyetvv9ujumn0wd68ytnzv9hxgtczyrppkxnvmvj8ej7e8rwtz6c45narstgqlltmzt2uhwk3w2sv6nghqqcyqqqqqqgqkgpmj


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AL.FA :fediverse:

about:
Questa è un'istanza una e trina
(per tacer del gatto), ma restiamo umili...
È senza fini di lucro né di potere né di manie di grandezza.

Alberto
@Alberto
Fabio
@Fabio

Gatto Tigrillo
@Tigrillo

Alter ego di orwell.fun
@nonoino

Notizie dal mondo
@albertoefabio

Canale peertube
@canale.alfa.tv

Canale pixelfed
@AlbertoeFabio

L'immagine dell'intestazione è di Lisa Kolbasa


tags: Bitcoin Magazine Trump White House Could Soon Pardon Former Binance CEO Changpeng Zhao: FOX People close to Changpeng Zhao, the former CEO of Binance better known as ‘CZ,’ say discussions are intensifying inside the Trump White House over whether to issue a presidential pardon for the embattled crypto executive, according to reporting from Charles Gasparino, a Senior Correspondent at FOX Business. Zhao, once among the most influential figures in the digital asset world, served time following a plea deal with the U.S. Department of Justice in 2023 that included a money-laundering conviction and $4.3 billion in fines for Binance. But according to several sources familiar with the matter, many within Trump’s inner circle now view the case as politically motivated — a hallmark of what they describe as the Biden administration’s broader crackdown on crypto. Zhao remains Binance’s largest individual shareholder, and a pardon could clear the way for his formal return to the exchange, which he founded in 2017 and grew into the world’s largest Bitcoin and crypto trading platform. Speculation of a Trump pardon has been looming for most of this year, but the decision is reportedly coming soon. CZ background Zhao’s 2023 conviction marked one of the most high-profile cases in the government’s campaign against major exchanges. U.S. prosecutors accused Binance of allowing illicit transactions with sanctioned entities and failing to implement proper anti-money-laundering controls. CZ pleaded guilty, stepped down as CEO, and paid a personal fine of $50 million. Zhao served a four-month prison sentence. He was sentenced in April 2024 and released in September 2024, after spending time in a low-security federal prison in California and then a halfway house. Despite this, even critics of Binance have questioned whether the criminal charges were proportionate. Trump’s team reportedly sees Zhao’s situation as an opportunity to demonstrate a “new era” of crypto policy — one that favors innovation over punishment. A decision could come before year’s end, but Trump’s attention is divided between foreign policy flashpoints — including conflicts in Gaza, Ukraine, and renewed trade tensions with China — and that clemency discussions often take longer than expected, according to Gasparino. For now, the crypto world is watching closely. A Trump pardon for CZ would mark not only a personal vindication for Zhao, but also be somewhat of a political statement: Trump signaling that the world’s most powerful government is truly open for Bitcoin business. This post Trump White House Could Soon Pardon Former Binance CEO Changpeng Zhao: FOX first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

content:
[Bitcoin Magazine](https://bitcoinmagazine.com)
![](https://bitcoinmagazine.com/wp-content/uploads/2025/10/Trump-White-House-Could-Soon-Pardon-Former-Binance-CEO-Changpeng-Zhao-FOX.jpg)
[Trump White House Could Soon Pardon Former Binance CEO Changpeng Zhao: FOX](https://bitcoinmagazine.com/news/trump-white-house-could-soon-pardon-former-binance-ceo-changpeng-zhao-fox)

People close to Changpeng Zhao, the former CEO of Binance better known as ‘CZ,’ say discussions are intensifying inside the Trump White House over whether to issue a presidential pardon for the embattled crypto executive, according to [reporting](https://x.com/CGasparino/status/1976739639684653313) from Charles Gasparino, a Senior Correspondent at FOX Business.

Zhao, once among the most influential figures in the digital asset world, served time following a [plea deal](https://www.justice.gov/archives/opa/pr/binance-and-ceo-plead-guilty-federal-charges-4b-resolution) with the U.S. Department of Justice in 2023 that included a money-laundering conviction and $4.3 billion in fines for Binance.

But according to several sources familiar with the matter, many within Trump’s inner circle now view the case as politically motivated — a hallmark of what they describe as the [Biden administration’s broader crackdown on crypto](https://bitcoinmagazine.com/culture/president-bidens-executive-order-on-bitcoin).

Zhao remains Binance’s largest individual shareholder, and a pardon could [clear the way](https://bitcoinmagazine.com/legal/binance-ceo-changpeng-zhao-pleads-guilty-steps-down) for his formal return to the exchange, which he founded in 2017 and grew into the world’s largest Bitcoin and crypto trading platform.

Speculation of a Trump pardon [has been looming](https://crypto.news/trump-family-in-talks-for-binance-stake-amid-push-for-cz-pardon-wsj/) for most of this year, but the decision is reportedly coming soon.

CZ background
-------------

Zhao’s 2023 conviction marked one of the most high-profile cases in the government’s campaign against major exchanges.

U.S. prosecutors accused Binance of allowing illicit transactions with sanctioned entities and failing to implement proper anti-money-laundering controls. CZ [pleaded](https://bitcoinmagazine.com/legal/binance-ceo-changpeng-zhao-pleads-guilty-steps-down) guilty, stepped down as CEO, and paid a personal fine of $50 million.

Zhao served a four-month prison sentence. He was sentenced in April 2024 and released in September 2024, after spending time in a low-security federal prison in California and then a halfway house.

Despite this, even critics of Binance have questioned whether the criminal charges were proportionate. Trump’s team reportedly sees Zhao’s situation as an opportunity to demonstrate a “new era” of crypto policy — one that favors innovation over punishment.

A decision could come before year’s end, but Trump’s attention is divided between foreign policy flashpoints — including conflicts in Gaza, Ukraine, and [renewed trade tensions](https://bitcoinmagazine.com/markets/bitcoin-price-sinks-to-118000) with China — and that clemency discussions often take longer than expected, according to Gasparino.

For now, the crypto world is watching closely. A Trump pardon for CZ would mark not only a personal vindication for Zhao, but also be somewhat of a political statement: Trump signaling that the world’s most powerful government is truly open for Bitcoin business.

This post [Trump White House Could Soon Pardon Former Binance CEO Changpeng Zhao: FOX](https://bitcoinmagazine.com/news/trump-white-house-could-soon-pardon-former-binance-ceo-changpeng-zhao-fox) first appeared on [Bitcoin Magazine](https://bitcoinmagazine.com) and is written by [Micah Zimmerman](https://bitcoinmagazine.com/authors/micahzimmerman).


基本的に、ひとさまの物と人肉以外は食べていいぽょね

でも食べて健康を害したり社会性を失う物はひとさまの迷惑になるので食べちゃいけない

取引先の女子社員も食べない方がいい

（聞かれてない）


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tags: Bitcoin Magazine The ‘Strategy of Latin America’ OranjeBTC Expands Holdings With $1.94M Bitcoin Purchase OranjeBTC has acquired an additional 16 BTC for roughly $1.94 million at an average price of $121,058 per Bitcoin, bringing its year-to-date Bitcoin yield to 1.5% in 2025. As of October 13, the OranjeBTC now holds 3,691 BTC, accumulated for approximately $389.07 million — an average cost basis of $105,412 per coin. Brazil’s First Pure-Bitcoin Public Company OranjeBTC began trading last week on B3, the São Paulo–based exchange that anchors Latin America’s capital markets. Backed by some of the biggest names in global crypto, OranjeBTC entered public markets holding 3,675 BTC — now 3,691 — instantly becoming the region’s largest corporate Bitcoin holder. The “Strategy of Latin America” The company’s model closely mirrors Strategy’s playbook in the United States: issue convertible debt, raise capital, and buy Bitcoin. Just today, Strategy announced the purchase of 220 BTC for $27.2 million at an average price of $123,561 per coin. Strategy now holds 640,250 BTC — about 3.1% of Bitcoin’s total supply — funded through $27.3 million raised via its recent at-the-market offering. Earlier this year, OranjeBTC secured a $210 million investment from Brazil’s largest bank, Itaú, through its investment arm Itaú BBA, positioning its BTC reserves as a long-term strategic asset. That financing round also drew heavyweight backers including Tyler and Cameron Winklevoss, Mexican billionaire Ricardo Salinas, FalconX, and Adam Back of Blockstream, alongside U.S. funds Off the Chain Capital and ParaFi Capital. Saylor’s early mentor, Eric Weiss, a former Morgan Stanley banker and founder of Blockchain Investment Group, sits on Oranje’s board. OranjeBTC’s local Bitcoin education The company is launching an educational platform aimed at teaching shareholders and institutional investors about Bitcoin’s monetary properties — what it calls a “learning layer” for Brazil’s next generation of savers. “We want to be an information center and help Brazilians and Latin Americans understand what money is, the role of a tangible asset, and how Bitcoin works,” Founder Guilherme Gomes told WIRED en Español in September. The listing was executed as a reverse IPO, with OranjeBTC merging into Intergraus, an already-listed entity on B3. Following the transaction, roughly 85% of shares will be in free float — opening the door for both institutional and retail investors to gain direct exposure to a company whose only real product is Bitcoin accumulation. B3 launched Bitcoin futures in 2022 and explored crypto custody services soon after. This post The ‘Strategy of Latin America’ OranjeBTC Expands Holdings With $1.94M Bitcoin Purchase first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

content:
[Bitcoin Magazine](https://bitcoinmagazine.com)
![](https://bitcoinmagazine.com/wp-content/uploads/2025/10/The-Strategy-of-Latin-America-OranjeBTC-Expands-Holdings-With-1.94M-Bitcoin-Purchase.jpg)
[The ‘Strategy of Latin America’ OranjeBTC Expands Holdings With $1.94M Bitcoin Purchase](https://bitcoinmagazine.com/business/the-strategy-of-latin-america-oranjebtc-expands-holdings-with-1-94m-bitcoin-purchase)

OranjeBTC has acquired an additional 16 BTC for roughly $1.94 million at an average price of $121,058 per Bitcoin, bringing its year-to-date Bitcoin yield to 1.5% in 2025.

As of October 13, the [OranjeBTC now holds](https://x.com/oranjebtc/status/1977718068622045615?s=46&t=qcJDE0RaWiQjEKjMZF2JjA) 3,691 BTC, accumulated for approximately $389.07 million — an average cost basis of $105,412 per coin.

Brazil’s First Pure-Bitcoin Public Company
------------------------------------------

OranjeBTC [began trading](https://bitcoinmagazine.com/business/oranjebtc-goes-public-on-brazils-b3-driving-latin-americas-bitcoin-push) last week on B3, the São Paulo–based exchange that anchors Latin America’s capital markets.

Backed by some of the biggest names in global crypto, OranjeBTC entered public markets holding 3,675 BTC — now 3,691 — instantly becoming the region’s largest corporate Bitcoin holder.

The “Strategy of Latin America”
-------------------------------

The company’s model closely mirrors Strategy’s playbook in the United States: issue convertible debt, raise capital, and buy Bitcoin.

Just today, Strategy [announced](https://bitcoinmagazine.com/markets/bitcoin-price-rebounds-above-114000-as-strategy-buys-220-more-bitcoin) the purchase of 220 BTC for $27.2 million at an average price of $123,561 per coin.

Strategy now holds 640,250 BTC — about 3.1% of Bitcoin’s total supply — funded through $27.3 million raised via its recent at-the-market offering.

Earlier this year, OranjeBTC [secured](https://bitcoinmagazine.com/news/oranjebtc-to-debut-on-brazils-b3-bringing-410-million-in-bitcoin-to-public-markets) a $210 million investment from Brazil’s largest bank, Itaú, through its investment arm Itaú BBA, positioning its BTC reserves as a long-term strategic asset.

That financing round also drew heavyweight backers including Tyler and Cameron Winklevoss, Mexican billionaire Ricardo Salinas, FalconX, and Adam Back of Blockstream, alongside U.S. funds Off the Chain Capital and ParaFi Capital.

Saylor’s early mentor, Eric Weiss, a former Morgan Stanley banker and founder of Blockchain Investment Group, sits on Oranje’s board.

OranjeBTC’s local Bitcoin education
-----------------------------------

The company is launching an educational platform aimed at teaching shareholders and institutional investors about Bitcoin’s monetary properties — what it calls a “learning layer” for Brazil’s next generation of savers.

“We want to be an information center and help Brazilians and Latin Americans understand what money is, the role of a tangible asset, and how Bitcoin works,” Founder Guilherme Gomes [told](https://es.wired.com/articulos/oranjebtc-la-compania-brasilena-que-se-convirtio-en-la-empresa-de-america-latina-con-mayor-reserva-de-bitcoin) _WIRED en Español_ in September.

The listing was executed as a reverse IPO, with OranjeBTC merging into Intergraus, an already-listed entity on B3.

Following the transaction, roughly 85% of shares will be in free float — opening the door for both institutional and retail investors to gain direct exposure to a company whose only real product is Bitcoin accumulation.

B3 launched Bitcoin futures in 2022 and explored crypto custody services soon after.

This post [The ‘Strategy of Latin America’ OranjeBTC Expands Holdings With $1.94M Bitcoin Purchase](https://bitcoinmagazine.com/business/the-strategy-of-latin-america-oranjebtc-expands-holdings-with-1-94m-bitcoin-purchase) first appeared on [Bitcoin Magazine](https://bitcoinmagazine.com) and is written by [Micah Zimmerman](https://bitcoinmagazine.com/authors/micahzimmerman).


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We're Gonna Win🍷


New OP_RETURN
{p:brc-20,op:mint,tick:KEK,amt:10000}
https://mempool.space/tx/f9177ecded1ae4785a72e8930d5f252ac7cac7f81934f29e43126b4de68e8d0c


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Alive and kicking


Currently Popular Notes DVM

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https://blossom.primal.net/08466c12fa56662279590c1470610ee9a1f0525094cd84b8b8145e416f2aa1d4.jpg


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tags: Bitcoin Magazine Bitcoin-Miner Canaan ($CAN) to Turn Flared Gas Into Computing Power in Canada In a move that blends energy innovation with digital infrastructure, Canaan Inc. announced the launch of a pilot project in Calgary, Alberta, designed to turn stranded or flared natural gas into power for Bitcoin mining and high-performance computing. The initiative, developed in partnership with Aurora AZ Energy, marks a step for Canaan as it explores how waste gas — often burned off at remote wells — can instead fuel computing power directly at the source. The pilot will install over $2 million worth of Avalon A15 Pro miners and modular data centers at wellheads, delivering roughly 2.5 megawatts of computing capacity with a guaranteed 90% uptime. Canaan’s stock started in the green and is currently up 22% on the news to $1.33 per share. At its core, this “gas-to-compute” system is an experiment in efficiency: using off-grid energy that would otherwise pollute to power one of the world’s most energy-hungry industries. Canaan estimates the project will prevent up to 14,000 metric tons of CO₂-equivalent emissions annually by capturing and converting flared gas into electricity. “This initiative represents a major step in demonstrating how computing infrastructure can evolve alongside energy innovation,” said Canaan CEO Nangeng Zhang. “By integrating localized natural gas generation with our modular systems, we’re transforming previously wasted resources into productive energy.” From flared gas to Bitcoin mining and AI innovation Flared gas — natural gas released and burned as a byproduct of oil extraction — remains a significant environmental challenge, especially in energy-rich regions like Alberta. According to the Alberta Energy Regulator, more than 900 million cubic meters of gas were flared in 2024 alone. The Canaan-Aurora model aims to turn that problem into an opportunity, creating what Aurora CEO Jing Shan Zhou calls a “scalable framework” for converting flared or stranded gas into computing power, according to the company’s press release. Beyond Bitcoin mining, Canaan envisions a broader application for this model in powering AI and high-performance computing workloads — sectors facing mounting pressure to find cheaper, cleaner energy sources. As hyperscale data centers drive global power demand higher, localized energy generation like this could offer an alternative path to scale sustainably. During downtime or grid curtailments, Canaan will also benefit from selling excess power back to the grid through demand-response programs, the company said. This post Bitcoin-Miner Canaan ($CAN) to Turn Flared Gas Into Computing Power in Canada first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

content:
[Bitcoin Magazine](https://bitcoinmagazine.com)
![](https://bitcoinmagazine.com/wp-content/uploads/2025/10/Bitcoin-Miner-Canaan-CAN-to-Turn-Flared-Gas-Into-Computing-Power-in-Canada.jpg)
[Bitcoin-Miner Canaan ($CAN) to Turn Flared Gas Into Computing Power in Canada](https://bitcoinmagazine.com/bitcoin-mining/bitcoin-miner-canaan-can-to-turn-flared-gas-into-computing-power-in-canada)

In a move that blends energy innovation with digital infrastructure, Canaan Inc. announced the launch of a pilot project in Calgary, Alberta, designed to turn stranded or flared natural gas into power for Bitcoin mining and high-performance computing.

The initiative, developed in partnership with Aurora AZ Energy, [marks a step](https://www.prnewswire.com/news-releases/canaan-inc-launches-innovative-gas-to-computing-pilot-in-canada-with-energy-infrastructure-developer-302582055.html) for Canaan as it explores how waste gas — often burned off at remote wells — can instead fuel computing power directly at the source.

The pilot will install over $2 million worth of Avalon A15 Pro miners and modular data centers at wellheads, delivering roughly 2.5 megawatts of computing capacity with a guaranteed 90% uptime.

Canaan’s stock started in the green and is currently up 22% on the news to $1.33 per share.

At its core, this “gas-to-compute” system is an [experiment in efficiency](https://bitcoinmagazine.com/business/creator-of-the-bitcoin-asic-says-next-wave-of-mining-efficiency-is-coming-): using off-grid energy that would otherwise pollute to power one of the world’s most energy-hungry industries. Canaan estimates the project will prevent up to 14,000 metric tons of CO₂-equivalent emissions annually by capturing and converting flared gas into electricity.

“This initiative represents a major step in demonstrating how computing infrastructure can evolve alongside energy innovation,” said Canaan CEO Nangeng Zhang. “By integrating localized natural gas generation with our modular systems, we’re transforming previously wasted resources into productive energy.”

From flared gas to Bitcoin mining and AI innovation
---------------------------------------------------

Flared gas — natural gas released and burned as a byproduct of oil extraction — remains a significant environmental challenge, especially in energy-rich regions like Alberta.

According to the Alberta Energy Regulator, more than 900 million cubic meters of gas were flared in 2024 alone. The Canaan-Aurora model aims to turn that problem into an opportunity, creating what Aurora CEO Jing Shan Zhou calls a “scalable framework” for converting flared or stranded gas into computing power, according to the company’s press release.

Beyond [Bitcoin mining](https://bitcoinmagazine.com/news/bitcoin-mining-company-canaan-adopts-btc-as-primary-reserve-asset), Canaan envisions a broader application for this model in [powering AI](https://bitcoinmagazine.com/bitcoin-mining/iren-stock-soars-bitcoin-mining-firm-surges-on-wall-street-ai-cloud-optimism) and high-performance computing workloads — sectors facing mounting pressure to find cheaper, cleaner energy sources.

As hyperscale data centers drive global power demand higher, localized energy generation like this could offer an alternative path to scale sustainably.

During downtime or grid curtailments, Canaan will also benefit from selling excess power back to the grid through demand-response programs, the company said.

This post [Bitcoin-Miner Canaan ($CAN) to Turn Flared Gas Into Computing Power in Canada](https://bitcoinmagazine.com/bitcoin-mining/bitcoin-miner-canaan-can-to-turn-flared-gas-into-computing-power-in-canada) first appeared on [Bitcoin Magazine](https://bitcoinmagazine.com) and is written by [Micah Zimmerman](https://bitcoinmagazine.com/authors/micahzimmerman).


tags: Bitcoin Magazine ‘Our Allegiance Is With Bitcoiners’: Steak ‘n Shake Scraps Ethereum Payment Idea American fast-food chain Steak ‘n Shake has abandoned plans to accept Ethereum payments following criticism from Bitcoin supporters. The 90-year-old chain, which began accepting Bitcoin (BTC) in May, ran a poll on X over the weekend asking its 468,800 followers whether it should expand its crypto options to include Ethereum. Nearly 49,000 votes were cast, with 53% in favor. However, just four hours later, the company suspended the poll, declaring its allegiance to Bitcoiners. “Poll suspended. Our allegiance is with Bitcoiners. You have spoken,” Steak ‘n Shake posted. Vitalik Buterin, Ethereum co-founder, defended Steak ‘n Shake’s decision. He suggested that crypto-adopting businesses should commit to one community rather than attempting to appeal to all, calling for “We need the stubborn ones who believe in their cause and their tribe and see their work as a labor of love to it.” The company’s relationship with Bitcoiners has been financially beneficial. Since introducing BTC payments across U.S., French, Monaco, and Spanish locations, Steak ‘n Shake reported a 15% year-over-year increase in same-store sales during Q3, a growth partially credited to Bitcoiners’ patronage. Steak ‘n Shake will also be launching the “Bitcoin Steakburger” on Oct. 16 to celebrate the company’s adoption of Bitcoin. Poll suspended. Our allegiance is with Bitcoiners. You have spoken. Who even allowed this? I'm back at my desk. – Steaktoshi https://t.co/4RkASUVa8L — Steak 'n Shake (@SteaknShake) October 12, 2025 Several vocal Bitcoin advocates expressed disappointment at the poll. Adam Simecka, creator of the Bitcoin self-custody wallet Manna, warned, “I promise, if you accept ETH, I will never eat at your restaurant again.” After the reversal, Manna then went on to offer a free Steak ‘n Shake meal to one of their followers. Steak ‘n Shake saved money with Bitcoin payments Back in May, Steak ‘n Shake executive Dan Edwards said that transactions were already exceeding expectations and accounting for 1 in every 500 Bitcoin payments worldwide on launch day. The move reportedly saved the company 50% on processing fees and is viewed as a serious upgrade to payment options rather than a marketing stunt. The company uses the Lightning Network across all U.S. locations, allowing customers to pay for meals with fast, low-fee BTC transactions. Payments can be completed by scanning a Lightning QR code at checkout, with a backend processor converting Bitcoin to USD in real time, ensuring simplicity and stability. The rollout was a full-scale implementation, not a test. You can pay with bitcoin at Steak ‘n Shake today. This post ‘Our Allegiance Is With Bitcoiners’: Steak ‘n Shake Scraps Ethereum Payment Idea first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

content:
[Bitcoin Magazine](https://bitcoinmagazine.com)
![](https://bitcoinmagazine.com/wp-content/uploads/2025/05/Steak-n-Shake-Now-Accepting-Bitcoin-via-Lightning-Network-Across-U.S.-Locations.jpg)
[‘Our Allegiance Is With Bitcoiners’: Steak ‘n Shake Scraps Ethereum Payment Idea](https://bitcoinmagazine.com/business/our-allegiance-is-with-bitcoiners-steak-n-shake-scraps-ethereum-payment-idea)

American fast-food chain Steak ‘n Shake has abandoned plans to accept Ethereum payments following criticism from Bitcoin supporters.

The 90-year-old chain, which [began accepting](https://bitcoinmagazine.com/news/steak-n-shake-will-accept-bitcoin-payments-in-all-u-s-locations-starting-next-week) Bitcoin (BTC) in May, [ran a poll](https://x.com/SteaknShake/status/1977130885817548857) on X over the weekend asking its 468,800 followers whether it should expand its crypto options to include Ethereum.

Nearly 49,000 votes were cast, with 53% in favor.

However, just four hours later, the company suspended the poll, declaring its allegiance to Bitcoiners. “Poll suspended. Our allegiance is with Bitcoiners. You have spoken,” Steak ‘n Shake [posted](https://x.com/SteaknShake/status/1977195903749652808).

Vitalik Buterin, Ethereum co-founder, [defended](https://x.com/VitalikButerin/status/1977229514477650163) Steak ‘n Shake’s decision. He suggested that crypto-adopting businesses should commit to one community rather than attempting to appeal to all, calling for “We need the stubborn ones who believe in their cause and their tribe and see their work as a labor of love to it.”

The company’s relationship with Bitcoiners has been financially beneficial. Since introducing BTC payments across U.S., French, Monaco, and Spanish locations, Steak ‘n Shake [reported](https://x.com/SteaknShake/status/1976125910760722466) a 15% year-over-year increase in same-store sales during Q3, a growth partially credited to Bitcoiners’ patronage.

Steak ‘n Shake [will also be launching](https://cointelegraph.com/news/steak-n-shake-u-turns-eth-payments) the “Bitcoin Steakburger” on Oct. 16 to celebrate the company’s adoption of Bitcoin.

> Poll suspended. Our allegiance is with Bitcoiners. You have spoken. Who even allowed this? I'm back at my desk.
>
> – Steaktoshi [https://t.co/4RkASUVa8L](https://t.co/4RkASUVa8L)
>
> — Steak 'n Shake (@SteaknShake) [October 12, 2025](https://twitter.com/SteaknShake/status/1977195903749652808?ref_src=twsrc%5Etfw)

Several vocal Bitcoin advocates expressed disappointment at the poll.

Adam Simecka, creator of the Bitcoin self-custody wallet Manna, [warned](https://x.com/AdamSimecka/status/1977149575741030583), “I promise, if you accept ETH, I will never eat at your restaurant again.” After the reversal, Manna then went on to offer a free Steak ‘n Shake meal to one of their followers.

Steak ‘n Shake saved money with Bitcoin payments
------------------------------------------------

Back in May, Steak ‘n Shake executive Dan Edwards [said](https://bitcoinmagazine.com/news/steak-n-shake-reveals-bitcoin-payment-success-at-bitcoin-2025-conference) that transactions were already exceeding expectations and accounting for 1 in every 500 Bitcoin payments worldwide on launch day.

The move reportedly saved the company 50% on processing fees and is viewed as a serious upgrade to payment options rather than a marketing stunt.

The company [uses the Lightning Network](https://bitcoinmagazine.com/news/steak-n-shake-now-accepting-bitcoin-via-lightning-network-across-u-s-locations) across all U.S. locations, allowing customers to pay for meals with fast, low-fee BTC transactions.

Payments can be completed by scanning a Lightning QR code at checkout, with a backend processor converting Bitcoin to USD in real time, ensuring simplicity and stability. The rollout was a full-scale implementation, not a test.

You can pay with bitcoin at Steak ‘n Shake today.

This post [‘Our Allegiance Is With Bitcoiners’: Steak ‘n Shake Scraps Ethereum Payment Idea](https://bitcoinmagazine.com/business/our-allegiance-is-with-bitcoiners-steak-n-shake-scraps-ethereum-payment-idea)  first appeared on [Bitcoin Magazine](https://bitcoinmagazine.com) and is written by [Micah Zimmerman](https://bitcoinmagazine.com/authors/micahzimmerman).


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