Greetings Bitcoiner,

Welcome to issue #105 of the Bitcoin Breakdown, where we are excited to be moving steadily towards a future where one’s economic output is properly rewarded on a sound money basis, rather than within the current monetary system which is predicated on perpetual debasement.

🔈️ If you haven’t yet, you can still join the waitlist to become a founding member of our newly launched Bitcoin-only community.

Happy readings! 👽️

TOGETHER WITH 1440*

*You can also advertise with us here.

OPSEC FEATURE ARTICLE

Do you need a secure vault for your data?

This is the question we address in this week’s feature article, where we explore encrypted containers – are they overkill, or essential?

We also review the most recommended encrypted container for safeguarding sensitive files on all your devices, USB drives, and cloud storage.

Get access to this review by becoming a premium supporter here.

🏆 FEATURE STORIES

• Parker Lewis argues that Bitcoin's fixed supply creates a perfectly elastic available supply, enabling its viability as a medium of exchange and driving its emergence as a global reserve currency (Aug 15 | 8 min read).

• Henry Fisher of Cake Wallet writes about the launch of Silent Payments, a new Bitcoin feature that enhances user privacy and allows organizations to receive donations without revealing their identity or transaction history (Aug 14 | 4 min read).

• River Financial publishes a post detailing how the establishment of a Strategic Bitcoin Reserve could enhance America’s financial stability, address the federal debt crisis, and position the US as a leader in global Bitcoin adoption (Aug 13 | 10 min read).

• Ilan Alon of the College of Management argues in The Jerusalem Post that Israel must ‘seize the moment’ and embrace a more Bitcoin-friendly stance in order to unlock ‘unprecedented opportunities while avoiding the pitfalls that other nations have encountered’ (Aug 20 | 4 min read).

• @icecakes reveals in a Stacker News post how he uncovered a scammer generating BTC addresses via WalletGenerator.net that they had the private keys for, but then gave the user an uncorrelated private key (Aug 20 | 5 min read).

• Ryan Gentry of Lightning Labs assesses the last-mile solutions for the Lightning Network, emphasizing improvements in wallet and blockchain interactivity to enhance self-custodial user experiences in Bitcoin payments (Aug 13 | 10 min read).

• Michael Degroot, a financial professional, highlights Vancouver's thriving Bitcoin economy as he and his colleague complete over 30 lightning transactions in one day, showcasing Bitcoin as a viable medium of exchange across more than 80 local businesses (Aug 17 | 2 min read).

• Che Kohler of The Bitcoin Manual highlights key considerations for accepting a salary in Bitcoin, including volatility, tax implications, security, and privacy risks, emphasizing the need for careful planning and informed decision-making (Aug 14 | 10 min read).

• Foundation, hardware wallet maker, publishes a thread exploring how buying Bitcoin without KYC preserves privacy and control, shielding users from data leaks, censorship, and confiscation while ensuring personal freedom (Aug 16 | 2 min read).

• Pete Rizzo, the Bitcoin Historian, publishes a thread on Twitter about the mysterious disappearance of Bitcoin miner Jiang ‘Friedcat’ Xinyu in 2014, following his meteoric rise and catastrophic fall, which remains one of the most intriguing unsolved cases in Bitcoin history (Aug 18 | 3 min read).

• Jameson Lopp explores the combinatoric math behind Bitcoin seed phrases, revealing that there are 130 valid 12-word phrases and only 11 valid 24-word phrases composed of repeated words like "bacon" and "gas" (Aug 13 | 4 min read).

• Alex Gladstein explores how Nostr, a decentralized social media protocol, challenges centralized platforms like Twitter, offering users control over their data, free expression, and payment freedom (Aug 13 | 13 min read).

• Lendasat, a financial services company, publishes a whitepaper on innovative escrow-less bitcoin-collateralized lending protocol that empowers users with trustless, peer-to-peer loans while retaining control over their assets (Aug 14 | 19 min read).

• Carl B. Menger, a pseudonymous Bitcoiner, explores the profound parallels between Bitcoin and Stoicism, highlighting how both embody principles of autonomy, resilience, and inner fulfillment in a world dominated by external chaos and materialism (Aug 13 | 9 min read).

• The Learn Liberty team argues that Bitcoin's environmental impact is minimal compared to its potential for global wealth creation, empowering individuals and enhancing economic freedom while using renewable energy for mining (Aug 15 | 3 min read).

• Natalia, a digital nomad, shares essential Nomad Hacks for safely traveling with Bitcoin across borders, emphasizing discreet methods for protecting your Bitcoin seeds, using privacy-focused technology, and spending in local currencies without KYC (Aug 07 | 7 min read).

• Bitlyrics publishes the transcript of a talk by Michael Saylor in which he outlines 21 pivotal rules of Bitcoin at BTC Prague 2024, emphasizing its revolutionary impact on economics, the necessity of understanding its complexities, and the importance of embracing it with humility and love (Aug 18 | 21 min read).

• Christopher Roark, writing for Cointelegraph, explores the lasting impacts of President Nixon’s 1971 decision to end the gold standard, which he claimed would stabilize the dollar but instead contributed to rising inflation, income inequality, and wage stagnation (Aug 15 | 5 min read).

POLL

BRAIN FOOD, DELIVERED DAILY

Every day Refind analyzes thousands of articles and send you only the best, tailored to your interests. Loved by 504,469 curious minds.

🛠️ TOOLS & PROJECTS

• Zaprite adds recurring Invoices that match almost any schedule.

• Robosats Alert Bot for SimpleX is released.

• Tap-to-pay Bitcoin transactions are now feasible for iOS as Apple enables developers to offer in‑app NFC transactions using the Secure Element.

• Strike, a Bitcoin-only exchange, now supports ACH bank transfers for their US business customers.

• WE HODL BTC is a free resource created to help bitcoiners take self-custody of their bitcoin.

• Chaincode Labs is offering a Bitcoin scholarship covering 100% tuition for an undergraduate anywhere in the world with applications open until August 31.

• Satoshis Per Person is a very cool website that displays some unique statistics about Bitcoin.

• Ninja's Handbook is a book on online privacy, security, and anonymity.

• Blockstream Jade 1.0.31 comes with improved security features, user-friendly updates and a versatile command-line interface for DIY enthusiasts.

• Balaji Srinivasan, a venture capitalist, launches The Network School, a new school on an island near Singapore “for those who understand that Bitcoin succeeds the Federal Reserve.”

• Jippi, a new gamified Bitcoin education app, is set to launch on August 30th.

• Bitcoin Arts Festival is an envisioned event for artists and enthusiasts that aims to showcase Bitcoin-centric art and promote peer-to-peer commerce through the Lightning Network.

• Surveillance Watch is an interactive map revealing the intricate connections between surveillance companies, their funding sources and affiliations.

💥MEME BREAK

AFFILIATES & REFERRALS

• Bringin offers a secure platform for buying, selling, and converting Bitcoin to Euros, with direct transfers to bank accounts or virtual debit cards, featuring unique off-ramping options and preventing account freezes with dedicated IBANs for each user.

• Blockstream Jade is the best hardware wallet for you to take self-custody with—enjoy a 10% discount off of with code: BITCOINBREAKDOWN.

• Start9 empowers you to run your own Bitcoin node while also joining the sovereign computing paradigm, where concerns over privacy, censorship, hacks, and fees practically disappear—get a 5% discount by using the code: BITCOINBREAKDOWN.

Thank you for reading!

If you received it from a friend and would like to subscribe, you can do so here:

Until our next transmission,

Naiw

P.S. Looking to start your own newsletter? Use this link to sign up for beehiiv and get a 30-day free trial plus a 20% discount.

Support independent Bitcoin content and consider leaving a Lightning tip:

[email protected]