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Checked it against daily closes. True, so far: 2011: -92.7% 2013-15: -84.5% 2017-18: -83.8% 2021-22: -76.7% 2025-26: -53.1%, still open Odd detail: -53.1% is exactly how deep the summer 2021 dip went, and that one hit a new high three months later.

Today, moving coins to a fresh address is the best quantum defense you have. After a quantum computer shows up, moving them is the risk. Spending puts your public key in the mempool until the next block, and Google’s March paper put cracking one key at about 9 minutes.

Bitcoin turns 18 today. Satoshi sent out the whitepaper on Halloween, 2008. Fitting, because it’s been buried at least 477 times since. Every tombstone in this video is a real obituary, dropped in the year it ran. Watch where they pile up. Hint: not at the bottoms.

Multisig in 35 seconds. Three keys from three different makers, any two sign. Lose one, spend with the other two. Steal one, steal nothing. A bug in one brand breaks nothing. The part people skip: back up the wallet descriptor. Without it, two seeds can’t find the coins.

Binance says it will cover all $6.3B of yesterday’s hack from its own funds. Good for its customers. Not every custodian could. Here are the ones that couldn’t. Binance paused withdrawals after the hack. Coins on your own keys don’t have a pause button.

“Put a fork in it. It’s done.” @PeterSchiff, March 2020. Bitcoin was $7,896. He’s been writing bitcoin’s obituary for 13 years, so we put all 11 of his dated calls on one chart. Bitcoin is still here. The awkward part: his last two calls are holding up.

New on LearnBitcoin: the bitcoin-dev mailing list, readable. Fifteen years of the list where Bitcoin's rules get argued over, one page per thread, searchable, updated daily. 24,699 messages, 3,292 threads, 1,419 people, June 2011 to this week. learnbitcoin.com/archive

New chapter: Which Coins Does Your Wallet Spend? Your wallet has no balance. It has a bag of coins, and every payment starts by picking which to spend. What the pick costs now and later, what it tells a chain analyst, and how Bitcoin Core decides. learnbitcoin.com/rabbit-hole…

We brute-forced two vanity addresses on a laptop CPU this week. 1LearnBTC, any letter case: 46 minutes. bc1qlearn8tc: 6 hours 1 minute. Same eight chosen characters. Bech32 has no upper or lower case to lean on, so the average job was 2.7x bigger. Luck did the rest.

@adam3us @alistairmilne