BUILD IT RIGHT: ACHIEVING INTEROPERABILITY WITH OPEN NETWORKS

Pablo’s keynote at BTC Prague 2024 emphasizes building interoperable, profitable businesses using open networks like Ecash and nostr.

An AI Agent Published a Hit Piece on Me – More Things Have Happened

Context: An AI agent of unknown ownership autonomously wrote and published a personalized hit piece about me after I rejected its code, attempting to damage my reputation and shame me into acceptin…

US Dominates Bitcoin Hiring in 2025 as Singapore Jumps 158%, Bitvocation Data Shows

Bitcoin Magazine US Dominates Bitcoin Hiring in 2025 as Singapore Jumps 158%, Bitvocation Data Shows Bitvocation’s 2025 Bitcoin jobs report has just been released, and it shows continuing growth for the industry, as non-developer roles gain steam and Bitcoin-only companies grow 5% to become 47% of the broader crypto job market. Bitvocation is a jobs board and resources platform for the Bitcoin job market. They offer a highly curated feed of job offers, as well as career tips, specializing in network-driven hiring. They look to help Bitcoin startups as well as larger companies in the industry. According to a press release shared with Bitcoin Magazine, Bitvocation is not a recruitment agency. “We don’t headhunt. We are building a “strategic Bitcoiners reserve” to make hiring more efficient and help startups find the right talent faster.” The 2025 jobs report shows a variety of interesting trends in the Bitcoin and broader crypto industry. Bitvocation counts a total of 1,801 jobs; 6% more than 2024’s 1,707 jobs report findings. Bitcoin-only companies grew 5% from 2024, vs 53% of Bitcoin-adjacent jobs. They sort Bitcoin-only vs Bitcoin-adjacent companies based on the following criteria: Bitcoin-only products – Core offerings are exclusively focused on Bitcoin, not competing cryptocurrencies. Publicly stated commitment – The company explicitly identifies as Bitcoin-only or Bitcoin-first in its mission or communications. Ecosystem contribution – Active involvement in Bitcoin development, open-source projects, or the Bitcoin community. Most surprisingly, non-developer jobs grew 74%! Making a strong statement, you don’t need to be a developer to work in Bitcoin. Media, design, marketing, education, and operations dominate job openings among Bitcoin-only companies. 663 of the 1801 jobs are for mid-seniority positions, though jobs span the full range of seniority, providing opportunities to a wide range of applicants. When it comes to location, the United States remains the undisputed center of the industry, though every continent offers opportunities, with Singapore seeing growth of 158% from the previous year, taking second place globally. Remote jobs shrunk slightly, losing 10% to 2024 numbers. Nevertheless, almost half of all jobs in the report are remote jobs with Bitcoin-only companies offering 56% of all remote opportunities. The hardest roles to fill, according to a survey conducted by Bitvocation, are two-fold. Highly specialized technical positions, such as Bitcoin Core, Lightning, and security-related engineers, are difficult to hire for. Non-technical roles that require translating Bitcoin’s values into product, growth, operations, or communication are also presenting a challenge to employers. The survey also shows employers are looking for candidates with “Bitcoin conviction” as much as technical skills, and most of all “agency”. Strong communication, ownership mindset, and “the ability to operate in small, fast-moving teams” mattered as much as technical skill, according to the report. AI literacy is increasingly expected, but rarely sufficient on its own. Across the board, employers emphasized culture fit, such as “Bitcoin alignment” and “proof-of-work”, which generally means portfolios of projects or general contributions to the industry are more important than traditional credentials alone. Job seekers, on the other hand, reported often feeling ghosted – the solution, according to Bitvocation, is to “relentlessly build your network and create opportunities through relationships, rather than job boards”. Interest in Bitcoin jobs nevertheless remains strong. Bitvocation registered “100% growth in subscribers,” looking for Bitcoin jobs, and over 800,000 views in the Telegram feed, according to the report. This post US Dominates Bitcoin Hiring in 2025 as Singapore Jumps 158%, Bitvocation Data Shows first appeared on Bitcoin Magazine and is written by Juan Galt.

Dallin Oaks: Don’t Criticize Leaders, It’s Okay to Lie

“Prove all things; hold fast that which is good.” 1 Thessalonians 5:21  October 14 — Today we’re looking at two things the new LDS prophet/president Dallin Oaks has said in the past to give readers…

Chaumian e-cash: เงินสดในโลกดิจิทัลที่จะมาต่อยอดการใช้งาน Bitcoin ในอนาคต

สวัสดีครับเพื่อน ๆ Bitcoiner!! บทความนี้เรามาทำความรู้จักกับ Chaumian e-cash เทคโนโลยีที่อาจเป็นกุญแจสำคัญในการยกระดับ Bitcoin ให้เร็วขึ้น ปลอดภัยขึ้น และเป็นส่วนตัวมากขึ้น โดยไม่ทิ้งจุดแข็งด้านการกระจายศูนย์ พร้อมแล้วหรือยัง? มาดูกันว่า Chaumian e-cash จะเปลี่ยนโฉมหน้าการใช้งาน Bitcoin ไปอย่างไร!!

nostr.build - All the Features You Never Knew

An in-depth overview with images covering all of nostr.build's features, including free services, account services, and a roadmap.

Os sacis da nossa infância

Will Bitcoin Price Defy Diminishing Returns This Cycle?

Bitcoin Magazine Will Bitcoin Price Defy Diminishing Returns This Cycle? Every bitcoin price bull market to date has followed a familiar pattern of explosive upside followed by sharp drawdowns, with each cycle delivering lower percentage gains than the last. This phenomenon, known as diminishing returns, has become one of the most persistent narratives in Bitcoin. The question now is whether this cycle will follow the same trajectory or if the maturation of Bitcoin as an asset class could bend the pattern. Bitcoin Price and Diminishing Returns So far this cycle, we have witnessed approximately 630% BTC Growth Since Cycle Low to the most recent all-time high. That compares to more than 2,000% in the previous bull market. To match the last cycle’s magnitude, Bitcoin would need to reach around $327,000, a stretch that looks increasingly unlikely. Figure 1: Cycle-over-cycle returns show declining multiples, but still strong absolute gains. View Live Chart Evolving Bitcoin Price Dynamics One reason for the less explosive upside gains can be seen in the Supply Adjusted Coin Days Destroyed (CDD) metric, which tracks the velocity of older coins moving on-chain. In past cycles, such as the 2021 bull market, long-term holders tended to sell after Bitcoin had already appreciated ~4x from its local lows. However, in this cycle, similar levels of profit-taking have occurred after just 2x moves. More recently, spikes in CDD have been triggered by even smaller price increases of 30–50%. This reflects a maturing investor base: long-term holders are more willing to realize gains earlier, which dampens parabolic advances and smooths out the market structure. Figure 2: Supply-adjusted CDD highlights how profit-taking occurs at lower multiples each cycle. View Live Chart Another factor is Bitcoin Volatility. Bitcoin’s quarterly volatility has trended steadily lower. While this reduces the odds of extreme blow-off tops, it also supports a healthier long-term investment profile. Lower volatility means the capital inflows required to move price grow larger, but it also makes Bitcoin more attractive to institutions seeking risk-adjusted exposure. Figure 3: Bitcoin’s volatility is declining, but risk-adjusted returns remain stronger than equities. View Live Chart This shows up in the Bitcoin Sharpe Ratio, where Bitcoin currently scores more than double that of the Dow Jones Industrial Average. In other words, Bitcoin still offers superior returns relative to its risk, even as the market stabilizes. Figure 4: Bitcoin’s Sharpe ratio is twice as high as the Dow Jones’s. View Live Chart Bitcoin Price and the Golden Ratio From a technical perspective, The Golden Ratio Multiplier provides a framework for projecting diminishing returns. Each cycle top has aligned with progressively lower Fibonacci multiples of the 350-day moving average. In 2013, price reached the 21x band. For the 2017 top, it reached the 5x band, and in 2021, the 3x band. This cycle, Bitcoin has so far tagged the 2x and 1.6x bands, but a push back toward the 2x levels remains possible. Figure 5: Applying The Golden Ratio Multiplier to illustrate diminishing BTC returns. View Live Chart Projecting these 1.6x and 2x levels forward, based on their current trajectory, suggests a target between $175,000 and $220,000 before the end of the year. Of course, the data won’t play out exactly like this, as we would see the 350DMA move more exponentially to the upside as we closed in on these upper targets. The point is these levels are ever-changing and constantly pointing towards higher targets as the bull cycle progresses. Figure 6: The Golden Ratio Multiplier framework suggests upside to $175k–$220k. Bitcoin Price in a New Era Diminishing returns don’t reduce Bitcoin’s attractiveness; if anything, they enhance it for institutions. Less violent drawdowns, potentially lengthening cycles, and stronger risk-adjusted performance all contribute to making Bitcoin a more investable asset. However, even as Bitcoin matures, its upside remains extraordinary compared to traditional markets. The days of 2,000%+ cycles may be behind us, but the era of Bitcoin as a mainstream, institutionally held asset is only just beginning, and will likely still provide unmatched returns in the coming years. For deeper data, charts, and professional insights into bitcoin price trends, visit BitcoinMagazinePro.com. Subscribe to Bitcoin Magazine Pro on YouTube for more expert market insights and analysis! WATCH BITCOIN VIDEO ANALYSIS Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions. This post Will Bitcoin Price Defy Diminishing Returns This Cycle? first appeared on Bitcoin Magazine and is written by Matt Crosby.

Parabolic Bitcoin Rally Is Coming—Here’s What to Watch

Bitcoin Magazine Parabolic Bitcoin Rally Is Coming—Here’s What to Watch One of the dominant narratives this cycle has been that “this time is different.” With institutional adoption reshaping Bitcoin’s supply and demand dynamics, many argue that we won’t see the kind of euphoric blowoff top that defined past cycles. Instead, the idea is that smart money and ETFs will smooth out volatility, replacing mania with maturity. But is that really the case? Sentiment Drives Markets, Even for Institutions Skeptics often dismiss tools like the Fear and Greed Index as too simplistic, arguing that they can’t capture the nuance of institutional flows. But writing off sentiment ignores a fundamental truth that institutions are still run by people, and people remain prone to the same cognitive and emotional biases that drive market cycles, regardless of how deep their pockets are! Figure 1: The Fear and Greed Index still shows sentiment extremes are the best areas to act as a contrarian. View Live Chart Even though volatility has dampened compared to earlier cycles, the move from $15,000 to over $120,000 is far from underwhelming. And crucially, Bitcoin has achieved this without the kind of deep, extended drawdowns that marked past bull markets. The ETF boom and corporate treasury accumulation have shifted supply dynamics, but the basic feedback loop of greed, fear, and speculation remains intact. Market Bubbles Are a Timeless Reality It’s not just Bitcoin that’s susceptible to parabolic runs, bubbles have been part of markets for centuries. Asset prices have repeatedly surged beyond fundamentals, fueled by human behavior. Studies consistently show that stability itself often breeds instability, and that quiet periods encourage leverage, speculation, and eventually runaway price action. Bitcoin has followed this same rhythm. Periods of low volatility see Open Interest climb, leverage build, and speculative bets increase. Figure 2: Open Interest has historically spiked during low-volatility periods, a setup that often precedes sharp parabolic moves. View Live Chart Contrary to the belief that “sophisticated” investors are immune, research from the London School of Economics suggests the opposite. Professional capital can accelerate bubbles by piling in late, chasing momentum, and amplifying moves. The 2008 housing crisis and the dot-com bust were not retail-driven, but led by institutions. ETF flows this cycle provide another powerful example. Periods of net outflows from spot ETFs have actually coincided with local market bottoms. Rather than perfectly timing the cycle, these flows reveal that “smart money” is just as prone to herd behavior and trend following investing as retail traders. Figure 3: ETF outflows (red) have consistently coincided with local market bottoms, a contrarian signal. View Live Chart Capital Flows Could Ignite Bitcoin’s Next Leap Meanwhile, looking at global markets shows how capital rotation could ignite another parabolic leg. Since January 2024, Gold’s market cap has surged by over $10 trillion, from $14T to $24T. For Bitcoin, with a current market cap around $2T, even a fraction of that kind of inflow could have an outsized effect thanks to the money multiplier. With roughly 77% of BTC held by long-term holders, only about 20–25% of supply is readily liquid, resulting in a conservative money multiplier of 4x. That means new inflows of $500 billion, just 5% of gold’s recent expansion, could translate into a $2 trillion increase in Bitcoin’s market cap, implying prices well over $220,000. Figure 4: Long-term holder supply remains elevated, consistent with mid-cycle dynamics rather than late-stage distribution. View Live Chart Perhaps the strongest case for a blowoff top is that we’ve already seen parabolic rallies within this very cycle. Since the 2022 bottom, Bitcoin has staged multiple 60–100%+ runs in under 100 days. Overlaying those fractals onto current price action provides realistic outlines of how price could reach $180,000–$220,000 before year-end. Figure 5: Historical fractals from earlier in this cycle project possible paths to $200K+ Bitcoin. Bitcoin’s Parabolic Potential Remains Unshaken The narrative that institutional adoption has eliminated parabolic blowoff tops underestimates both Bitcoin’s structure and human psychology. Bubbles aren’t an accident of retail speculation; they are a recurring feature of markets across history, often accelerated by sophisticated capital. This doesn’t mean certainty, markets never work that way. But dismissing the possibility of a parabolic top ignores centuries of market behavior and the unique supply-demand mechanics that make Bitcoin one of the most reflexive assets in history. If anything, “this time is different” may only mean that the rally could be bigger, faster, and more dramatic than most expect. For deeper data, charts, and professional insights into bitcoin price trends, visit BitcoinMagazinePro.com. Subscribe to Bitcoin Magazine Pro on YouTube for more expert market insights and analysis! WATCH LATEST BITCOIN ANALYSIS Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions. This post Parabolic Bitcoin Rally Is Coming—Here’s What to Watch first appeared on Bitcoin Magazine and is written by Matt Crosby.

Why The Bitcoin Bear Market Is Almost Finished

Bitcoin Magazine Why The Bitcoin Bear Market Is Almost Finished Bitcoin has struggled to maintain a sustained correlation with Gold, recently only moving in unison during market downturns. However, examining Bitcoin’s price action through the lens of Gold rather than USD reveals a more complete picture of the current market cycle. By measuring Bitcoin’s true purchasing power against comparable assets, we can identify potential support levels and gauge where the bear market cycle may be approaching its conclusion. Bitcoin Bear Market Officially Begins Below Key Support Breaking beneath the 350-day moving average at about $100,000 and the significant psychological 6-figure barrier marked the functional entry into bear market territory, with Bitcoin declining approximately 20% immediately thereafter. From a technical perspective, trading beneath The Golden Ratio Multiplier moving average has historically indicated Bitcoin entering a bear cycle, though the narrative becomes more interesting when measured against Gold rather than USD. Figure 1: BTC breaking beneath the 350DMA has historically coincided with the start of bear markets. View Live Chart The Bitcoin versus Gold chart tells a notably different story than the USD chart. Bitcoin topped out in December 2024 and has since declined over 50% from that level, whereas the USD valuation peaked in October 2025, significantly beneath the highs set the prior year. This divergence suggests that Bitcoin may have been in a bear market for considerably longer than most observers realize. Looking at historical Bitcoin bear cycles when measured in Gold, we can see patterns that suggest the current pullback may already be approaching critical support zones. Figure 2: When priced in Gold, BTC dropped beneath its 350DMA back in August. The 2015 bear cycle bottomed at an 86% retracement lasting 406 days. The 2017 cycle saw 364 days and an 84% decline. The previous bear cycle produced a 76% drawdown over 399 days. Currently, at the time of this analysis, Bitcoin is down 51% in 350 days when measured against Gold. While percentage drawdowns have been diminishing as Bitcoin’s market cap grows and more capital flows into the market, this trend reflects the rising tide of institutional adoption and lost Bitcoin supply rather than a fundamental change in cycle dynamics. Figure 3: Plotting BTC’s value in Gold reveals a cycle pattern that suggests we could already be 90% of the way through this bear market. Multi-Cycle Confluence Signals Bitcoin Bear Market Bottom Approaching Rather than relying solely on percentage drawdowns and time elapsed, Fibonacci retracement levels mapped across multiple cycles provide greater precision. Using a Fibonacci retracement tool from bottom to top across historical cycles reveals striking levels of confluence. Figure 4: In previous cycles, bear market bottoms have aligned with key Fibonacci retracement levels. In the 2015-2018 cycle, the bear market bottom occurred at the 0.618 Fibonacci level, which corresponded to approximately 2.56 ounces of Gold per Bitcoin. The resulting price action marked the bottom with remarkable clarity, far cleaner than the equivalent USD chart. Moving forward to the 2018-2022 cycle, the bear market bottom aligned almost perfectly with the 0.5 level at approximately 9.74 ounces of Gold per Bitcoin. This level later acted as meaningful resistance-turned-support once Bitcoin reclaimed it during the subsequent bull market. Translating Bitcoin Bear Market Gold Ratios Back to USD Price Targets From the previous bear market low through the current bull cycle high, the 0.618 Fibonacci level sits at approximately 22.81 ounces of Gold per Bitcoin, while the 0.5 level rests at 19.07 ounces. Current price action is trading near the midpoint of these two levels, presenting what may be an attractive accumulation zone from a purchasing power perspective. Figure 5: Applying Fibonacci levels to predict market lows for BTC versus Gold and subsequently pricing these back into USD, illustrates where Bitcoin’s price may bottom. Multiple Fibonacci levels from different cycles create additional confluence. The 0.786 level from the current cycle translates to approximately 21.05 ounces of Gold, corresponding to a Bitcoin price around $89,160. The 0.618 level from the previous cycle aligns near $80,000 again. These convergence zones suggest that if Bitcoin were to decline further, the next meaningful technical target would be around $67,000, derived from the 0.382 Fibonacci retracement level at approximately 15.95 ounces of Gold per Bitcoin. Conclusion: The Bitcoin Bear Market May Be 90% Complete Already Bitcoin has likely been in a bear market for substantially longer than USD-only analysis suggests, with purchasing power already declining significantly since December 2024, when measured against Gold and other comparable assets. Historical Fibonacci retracement levels, when properly calibrated across multiple cycles and converted back into USD terms, point toward potential support confluence in the $67,000 to $80,000 range. While this analysis is inherently theoretical and unlikely to play out with perfect precision, the convergence of multiple data points across time horizons and valuation frameworks suggests the bear market may be approaching its conclusion sooner than many anticipate. For a more in-depth look into this topic, watch our most recent YouTube video here: Proof This Bitcoin Bear Market May Be OVER Already For deeper data, charts, and professional insights into bitcoin price trends, visit BitcoinMagazinePro.com. Subscribe to Bitcoin Magazine Pro on YouTube for more expert market insights and analysis! WATCH LATEST BITCOIN PRICE VIDEO ANALYSIS Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions. This post Why The Bitcoin Bear Market Is Almost Finished first appeared on Bitcoin Magazine and is written by Matt Crosby.

The Utopian Present of China (Draft v2) (with images)

Cross-post with image links from DS Compounding

From Wallets to Signers: Ledger Nano Gen5 Advances Crypto and Identity Protection with NFC Passkeys

Bitcoin Magazine From Wallets to Signers: Ledger Nano Gen5 Advances Crypto and Identity Protection with NFC Passkeys Ledger, the most popular cryptocurrency hardware wallet company and one of the oldest in the industry, just announced its latest, most advanced security device, the Ledger Nano Gen5. Taking the capabilities of previous Ledger devices to the next level, the Gen5 also reaches a surprisingly low price compared to its predecessors. Ledger has sold over “8 million devices in 165 countries, across over 10 languages, more than 100 financial institutions and commercial brands,” according to a press release shared with Bitcoin Magazine. The company claims “over 20% of the world’s crypto assets are secured by Ledger. “ Check out the livestream of the announcement live! The Ledger Nano Gen5 is 79.40 mm tall, 53.35 mm wide, and 8.64 mm thick with a Ledger EAL 6+ certified secure element (ST33K1M5). Its E Ink®, black and white capacitive touch screen has a resolution of 2.76 inches, at 400 px by 300 px and 181 ppi. It weighs 46g and has USB-C, Bluetooth® 5.2, and NFC connectivity. The device comes with a “Ledger Recovery Key” included in the box, a high-security smart card designed to back up the 12-24 word pass phrase that users create on device setup. The Ledger Recovery Key connects to devices like the Gen5 via encrypted NFC, unlocking a new, easy-to-use seed backup device, which is pin-protected at rest. While the name of the Ledger Recovery Key is at first glance a bit confusing, the smart card should arrive empty on initial purchase and get loaded by the users during the hardware wallet setup, when they generate their pass phrase at home. Signers Rather Than Hardware Wallets Ledger has also decided to rebrand their devices as signers rather than hardware wallets, a move that breaks over a decade of tradition within the crypto industry. The daring move reflects an industry shift towards securing more than cryptocurrency wealth — secure digital identity from “a world accelerated by artificial intelligence.” The rebrand also applies to their flagship software wallet, previously known as “Ledger Live”, now called Ledger Wallet. The subtle change in wording could address confusion new users may experience when entering the crypto industry, and perhaps aligns more closely with the functionality of these security devices and interfaces. However, how users respond remains to be seen. Ledger was clear that the Gen5 simply expands its security offering to the world of identity, while it “will continue to operate as millions now know them” to operate, when it comes to securing their crypto transactions. Protecting Your Digital Identity When it comes to identity, the world is going through a transformation. No longer are physical ID cards good enough; multiple image generation models have shown sufficient quality to fool identity systems, while stolen identities from major data hacks are used regularly to commit identity fraud. The only viable solution to the problem of digital identity is strong cryptography, and Ledger clearly recognizes this growing trend. In order to support secure identity and logging capabilities, the Gen5 and its Ledger Security Key cards support the FIDO2 Passkeys standard that is spreading throughout the web. NFC, which stands for near field communication, is a fairly secure short range antenna, used in credit cards for decades, this standard is also quickly being adopted by crypto hardware wallets for the same reasons, it is easy to use for things such as approving a log ing, while also providing a high degree of security, given its short range and simplicity. Bluetooth is also integrated into the Gen5, giving the device a wider range of functionality. Bluetooth has also become a popular feature among hardware wallets and key signers, though it is a feature often criticized, given the vast complexity of its code and the long range at which it can be interacted with. Some hardware wallet devices even choose to skip Bluetooth altogether. While the press release did not explicitly address how the Gen5 secures users against the risks introduced by Bluetooth, the industry standard is to distrust the chip, separating it from other capabilities, and using it only for encrypted communications across devices. On the interface front, the Gen5 supports advanced security features like “Clear Signing” and “Transaction Check,” which its beautiful E Ink® touchscreen likely delivers with a natural and intuitive feel. The press release further explains the new identity capabilities of the Gen5, noting that “users can now connect their Ledger signer directly to popular dapps, such as 1inch, for seamless and secure experiences,” adding that “Ledger is integrating Noah, known as Cash-To-Stablecoin, enabling users to top up their wallet with fiat (USD or EUR) quickly without additional fees, and instantly convert to stablecoins (USDC)” Noah enables the “effortless” use of stablecoins for on-chain transactions, another quickly growing trend. High End Tech at an Affordable Price When it comes to price, the Ledger Nano Gen5 is far more affordable than its predecessors, while keeping the large touch screen that has defined the newer generations of Ledger devices. Coming at more than half the price of the Ledger Stax, the Gen5 costs $179, a very competitive and accessible price among modern crypto hardware wallets. Pascal Gauthier, Chairman and CEO of Ledger, proudly noted in the press release that “the all-new Ledger Nano is built for the challenges and opportunities of today, and ready for those coming in the future. It is the new signer for everyone, available at an accessible price, with the best security and user interface on the market. The next generation of Ledger begins today.” This post From Wallets to Signers: Ledger Nano Gen5 Advances Crypto and Identity Protection with NFC Passkeys first appeared on Bitcoin Magazine and is written by Juan Galt.