Crypto News
Bitcoin As A Foundation For Community Building
Community is crucial and that never has been clearer to me than it was this last month, as wildfires claimed 10,000 hectares of the area around my home, leaving many people with nothing except the clothes they were wearing when they escaped.
At its peak, our fire was being fought by firefighters from all over Portugal. More than a thousand men, 400 odd fire trucks and 14 planes eventually prevailed. We watched the massive smoke plume and none of us slept much for the four nights it burned, watching an approaching orange glow light up the sky. In its wake, now that the firemen have completed the heroic task of slaying the fire dragon, it’s the force of community which is coming to the fore.
Amongst the local small businesses, there is an almost festive atmosphere. Stories of last minute escapes are shared by those affected, damages are compared. Together, we take reckoning of what has been lost and celebrate the small victories over the fire. A home saved here, a family reunited with their livestock and pets there, a house not touched by the flames even though everything around it has burned.
People have poured in from far and wide to volunteer. Donations of food, clothing and household items are piled high against the back wall of a local restaurant and shared out amongst those who need them. Gender roles seem to be falling naturally into place amongst the volunteers, with the men mostly taking the heavy tasks of clearing scorched earth and charred trees to clear the way for people to start rebuilding and the women cooking for the teams of men and the families who have lost their homes. Now, a month on from the fire, the progress is very visible. Fallen roofs have been shovelled up and cleared, structures checked and cleaned in preparation for placing new beams and rebuilding. The melted pipes of irrigation systems have been pulled out of the ground and taken away. Personal possessions have been sifted through and what can be saved has been secured. We have received excellent information sessions on how to go about managing burned land, what to clear, what to leave, how to prevent land erosion and when and how to start replanting. With the first rain of the autumn coming in strong, the first sign of green is already showing again all over the blackened landscape.
A dear friend of mine, herself a dedicated bitcoiner, put it beautifully in a message to me when I told her how overwhelming it is to see people coming together this way. “This is what people do when they govern themselves,” she wrote, “It’s beautiful.”
Never were truer words spoken. I don’t think I have ever seen a community slip so smoothly into gear before. In countries – such as most European countries – where governments are still functioning to at least some degree (one could argue, over functioning) many people seem to have lost contact with the community. While once churches would have provided the cornerstones for this connection, the majority of people are no longer affiliated to any religious association and if you ask them about their community or “tribe,” most fumble for an answer. They talk about a group loosely composed of co-workers, sports buddies, friends who are not necessarily close by and neighbours with whom they share a mostly coincidental bond of proximity. The fabric of our societies is now an open weave and many individuals simply slip through it into isolation, holding on by only a few threads here and there.
From a historical and sociological perspective, the loss of community is deeply worrying. Humans did not form communities for fun. We didn’t group together because it was more fun to hunt or man the ramparts of the castle with a buddy (although it probably was that too). Throughout human history, no matter what the era or geographical setting, humans have grouped together because together we are and have always been safer, more effective and more capable of influencing our context to our benefit, whether it be fighting a fire, an enemy attack or political overreach. At the risk of sounding like a political slogan, together we really are stronger.
Women traditionally play a crucial role in creating and bonding communities, largely because they are socially and biologically very incentivised to do so – a woman’s first protector for herself and her children is of course her man – but beyond him or in his absence it is her community which is her second line of protection and which she relies upon for safety and help in times of need. It could be convincingly argued that it’s the breakdown of community which is at least partly responsible for the skyrocketing statistics of depression and anxiety amongst women of all ages but especially the younger generations in Northern Europe and the US. Social media appears to replicate a community in hordes of followers, but as a replacement simply doesn’t cut it, providing only dopamine addiction in lieu of genuine connection. From a mental health perspective, loss of community is as disastrous as it is when seen through a historical and sociological lens.
Obviously, it’s not only women who are vulnerable to this catastrophic downturn. Across the genders, statistics for poor mental health including isolation, depression, suicide and addiction make depressing reading and their increasing occurence, in spite of the increasing ease of living for most people in the developed world, even more so. It’s a lack of community which is leaving such a void in people’s lives, above all a lack of a sense that they contribute to a cause larger than their own personal wellbeing. It’s perhaps naïve – but I can’t help feeling that actively founding and stimulating the growth of local communities could have incredibly restorative potential for our collective wellbeing.
Which is just one of the reasons that it is so incredibly heartening to see a community here in full strength, drawing together to support and provide for one another, each member contributing what they have to offer. For some it’s money, which is being channelled straight into providing emergency relief or donated to the people whose livelihood was dependent upon their home. For others, it’s muscle and machine power, in chainsawing, clearing and cleaning. A few people have dedicated their time to coordinating the influx of volunteers. For those of us who have no idea how to wield a chainsaw and whose lack of muscle power threatens to make us more of a hindrance than a help on the front line of the clear up, it’s kitchen duty, providing food for those working and those in need. That community is vital on all the levels of Maslow’s pyramid of human needs is clearly exemplified in the wake of our fire.
But how to go about reintroducing the seeds and roots of community in other places, where with the loss of a shared faith and competitive social relations in all aspects of life, it has been so lost, for so long? Can we as individuals and families foster this growth?
As a fellow bitcoiner, I think you know what I would propose. Besides its myriad other aspects, Bitcoin provides a unique foundation for community. We’ve all experienced it if we have attended Bitcoin events; I’d bet my bottom dollar (if either you or I still believed in the value of the dollar) that you had more in common with the person you had a five minute chat with in the queue of the bathroom at the Bitcoin conference than you do with your co-workers, who you have known and worked with for years.
Bitcoin is about shared values and a shared knowledge that the system we are living under just doesn’t work. Its capacity to lay the foundation for community (not to mention the rest of its cornucopia of economic, technical, social and philosophical gifts) is second to none. A community based around Bitcoin is a whole new and unique model which has the potential to fill the void which other failed (fiat) models of community have left.
Those of us who choose to already experience some of this Bitcoin community through Telegram, Twitter and Nostr. Amongst other Bitcoiners, we can, to put it simply, just go ahead and skip the small talk. Mostly, we’re all aware of the role governments, big pharma, mainstream media and the food giants play. Once these issues are no longer a topic of conversation, it’s beautiful to watch what emerges – we’re all pretty much in agreement about what has broadly gone wrong in the past so we tend to focus on the future. These conversations are incredibly valuable. I, for one, love the thought provoking contact and the sense of online community – but there’s the danger that those online communities and the people with whom I socialize and the businesses from whom I buy the goods I need in daily life can feel like two separate worlds. It takes some steps to bring those two worlds together but I do feel that they are very much worth taking. Shared values make for strong bonds and as you build a Bitcoin community around you, you get to experience the luxury of this.
Delivering regular Bitcoin education sessions and watching as businesses around me start to accept Bitcoin is, for me, planting the seeds of a whole extra layer of community. It could be said that we have an obligation – not only to ourselves and our families, but to our communities, to seed and foster the growth of new, Bitcoin based communities. Doing so will bring us huge benefits. Not only will we be able to transact and save in real money amongst ourselves, building parallel economies which are uncensorable and tailor made to fit our own needs (because we are incentivized to orange pill businesses we most want to buy from), we will have access to the social, philosophical and even moral benefits that being part of a true community brings and which most of us have never yet fully experienced.
Can Bitcoin lead us back to a golden age of community, where all of us can experience these benefits? I think the answer is that it probably can. Some of the green shoots of it can already be seen growing out of the ash left by the collapse of fiat models of community. So if I may be so bold as to offer you some advice – go out there to that shop, restaurant or bar you go to often and say those magic words: “Do you accept Bitcoin yet?”
This is a guest post by Holly Young. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
Community is an important part of dealing with problems, as recent wildfires in Portugal demonstrate. Can Bitcoin be a foundation for restoring communities where they have fragmented?
Crypto News
Reminder to Update Your Bitcoin Wallet’s Firmware
The smell of fall in the air, this weekend I indulged in apple delicacies, watched the changing leaves, and oh yeah, traveled to make sure my Bitcoin custody is up to date…
If you follow me on X, you know that I hold Bitcoin with Casa, a multisig security provider, and that I use the service to manage a few different multisig vaults for various purposes.
This requires keeping a number of keys and wallets up to date, and since I don’t keep any key materials at home, it requires some degree of routine and dedication.
I’ve self-custodied my Bitcoin since 2020, and I’ve built up some good habits along the way. That said, something that always strikes me is just how much more nerve-wracking it is than trusted set-ups.
One thing that always gives me pause: the firmware update.
As I’ve written before, I’m not super technical. My specialty in Bitcoin is history, and while, sure that necessitates that I know about network theory and architecture, there is something about watching digital gears and a loading bar that just makes me super uncomfortable.
I say this all because it’s a less-known issue with the Bitcoin hardware wallets most use to self-custody. These devices, termed “signing devices” by Coldcard creator NVK, do just that, they manage your key material, and they sign on your behalf when making a transaction.
But, being live digital devices, they’re not infallible. They require some upkeep. All you need to do is to scroll past a few updates of people losing Bitcoin on firmware updates to know the drawbacks
It’s a common problem, and the culprit is always a corrupt hardware device (and a lost back-up). Add that multisig vaults, which require a combination of keys to sign a transaction, aren’t yet the norm, and the number of lost Bitcoin just seems to always be up and to the right.
The most common issue – the user doesn’t update their firmware often, waits, and later borks their device, thereafter finding they’ve also misplaced their seed phrase.
Here’s Andreas explaining firmware updates in more detail, though he doesn’t actually update his firmware, he just manages his seed phrase.
Suffice to say, it’s an example of why the world of self-custody, however improved it is, still makes me uneasy. In my case, I updated my wallets without much of an issue. Only one of the wallets even needed a firmware update, and it was simple. (Taking all of a few minutes to prove my coins are safe).
That said, I had to make sure to check my other keys beforehand, and that I had a plurality of the multi-sig keys needed in a worst-case scenario, as well as my seed backups.
This is what makes Bitcoin custody such a high-octane process: you can never be too careful. When you’re your own bank, there’s always a chance that something might go wrong.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
Live digital devices, Bitcoin hardware wallets are not infallible. They require some routine upkeep, or at least a seed phrase backup.
Crypto News
A Trump Presidency Is The Best Outcome For Bitcoin: NIKOLAUS
The other week, I made my opinion clear that I believe Donald Trump is the best candidate for Bitcoin in the upcoming 2024 presidential election. Aaron responded, and after reading it, I feel he’s still missing the bigger picture. Aaron’s main points seem to be that Trump is just using Bitcoiners for their votes, and that he won’t follow through on his promises.
While I partly agree with the former point, I disagree with the latter. Contrary to what I’ve seen some Bitcoiners online say, I do not think Trump has to be a hardcore Bitcoin maximalist and cypherpunk to be a great Bitcoin president. Here’s why.
Trump needs all the votes he can get. Of course he is going to try and appeal to our voters, especially when most of us already have right-leaning political views. It makes sense for the Republican party to adopt freedom money, given they lean more towards the principles of freedom now, while the Democrats have become more authoritarian.
Voting for Trump, then, is a win-win. He gets more votes (some in critical swing states), and we get a better environment for our industry. Sounds like a good trade to me.
And that leads me into what I disagree with Aaron on. I believe that Trump will keep most, if not all of his promises he’s made when it’s come to Bitcoin. Because, well, most of the promises he has made seem like relatively easy things to implement. It’s not like he’s alone on the issue – there are now many pro-Bitcoin senators and congresspeople to hold him accountable.
There’s Senator Cynthis Lummis, who wants to create a strategic Bitcoin reserve (using BTC already owned by the government). There is Congressman Tom Emmer, who already wants to fire SEC Chair Gary Gensler and appoint someone better for the industry. You can go to StandWithCrypto.com to see the rest.
If elected, Trump would have loads of other, arguably more important issues on his plate to deal with. The fact that his policies would give Bitcoiners a friendly regulatory environment to build in, stop anti-Bitcoin politicians from continuing to attack this industry, all without Trump meddling in it, sounds like the perfect storm for innovation.
The fact that he’s done things like bring Bitcoin miners to Mar-a-Lago to better understand the industry is enough evidence to make this point.
I think many are overly critical of Trump because he said he wasn’t a fan of Bitcoin in 2019. But that was ages ago, and everything has changed since then. It doesn’t make sense to hate on people for coming around to Bitcoin after not being a fan of it. (I do, however, think it is ok to be critical of the non-Bitcoin initiatives Trump has promoted, like World Liberty Financial, but even that isn’t worth losing all the benefits of his presidency.)
So, why would Trump free Ross now when he already had the chance to last term?
In politics, as in Bitcoin, it’s all about incentives, and the incentives here are aligned.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
Trump would allow a friendly regulatory environment for Bitcoiners to thrive in.
Crypto News
Uncle Jack’s Chili is Good for Bitcoin
Follow Tommy on X.
This interview on the Danny Jones Podcast episode 263 both felt like it was being channeled from my own brain while also hitting me with an overload of new information. It hit the spot, as someone who has long held the opinion that all modern wars and psychological operations are symptoms of easy fiat money, and that the government is simply the biggest criminal cartel that grows large enough to self-legitimize its racket and assumes the role of moral authority. Kruse postulates that the goal of globalist transhumanists is to replace the U.S. Constitution, a document that is designed to protect individuals from government, with the U.N. Charter, a document designed to usurp it and provide tyrannical power to proxies of the industrial military complex.
“I would sit down with, probably, Adolf Hitler before I would sit down with Sergey Brin.”
I wasn’t expecting to hear about Bitcoin when I started listening, but I was pleasantly surprised to hear him bring it up early and often, framed as a kryptonite to the transhumanists he portrays as his “mortal enemy”.
“The reason why Bitcoin content gets removed is because DARPA is not interested in Bitcoin. Their energy to fuel their whole process is cheap fiat money.”
Uncle Jack hits on topics like Kleiber’s law, allodial wealth, DARPA, MK-ULTRA (and it’s subsequent versions), the Stanford marshmallow experiment, JFK’s assassination, sunlight medicine, SV40, cancer, COVID and the jabs, and even invisibility, somehow connecting it all subtly to Bitcoin, with a ‘fix the money, fix the world’ subtext.
“There’s a pattern with the Industrial Military Complex. When they want to do something, they don’t ask for forgiveness, they don’t ask for permission either, they just do it.”
The main ingredient was essentially that the Federal fiat system is a big Ponzi scheme, citing Roth IRAs and retirement funds specifically. And that there is a mortal war waged on us by The State to make sure enough of us die through cancers, wars or otherwise so that we aren’t all performing a bank run.
The Industrial Military Complex is a machine that is powered by cheap money: fiat money. Kruse aligns Bitcoin as a solution to the fiat war machine, which is preaching to the choir for me, but exciting to hear on a non-Bitcoin show with a large audience like the Danny Jones Podcast.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
A self-proclaimed Bitcoin pleb and actual brain surgeon, Dr. Jack Kruse, has the sauce and I want everyone to try it.
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