sound money and freedom maximalist. building towards a future I want to live in. @Satsback | Satsback Labs
distributed
Joined December 2015
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tom chojnacki retweeted
Please note that updating after the fact is not enough.
Treat the entire machine as compromised.
📢 Our incident response investigation identified an attack vector targeting instances running versions 2.4.1 (Jul 23, 2026) or older.
We have no credible reports of hot wallet drains for users running the latest 2.4.7 release. We again urge everyone to keep their BTCPay Server updated.
If you were impacted, please send all details and logs to [email protected]
tom chojnacki retweeted
Looks like today’s the day that everyone becomes an armchair Poland expert. Can’t wait for the collective knowledge base to finally figure out this doesn’t end with the constitutional court and why the crisis over the central bank stands to roil the eurozone from the Eastern flank.
If you fancy a primer 👇
Poland’s central bank crisis exposes European hypocrisy telegraph.co.uk/business/202…
tom chojnacki retweeted
If your personal AI agent isn't earning you bitcoin back when it shops for you, it's not that superintelligent. teapawt.net/elonmusk/status/210915…
I just asked Grok @Bot to research the most fun Lego Star Wars kits for young kids and order them. As easy as that.
tom chojnacki retweeted
WHAT THE BINANCE HACK TEACHES YOU:
1. Bitcoin on an exchange is a promise the exchange makes to you.
2. That promise can be paused overnight, for every customer at once.
3. Bitcoin is not crypto. Issuers froze about $2.8 billion of the stolen stablecoins within hours. The 18,270 stolen bitcoin are still gone.
4. No one can freeze the bitcoin in your own wallet, and no one can bring it back.
Investigation update: Our initial investigation suggested that the security incident may have involved a compromised laptop, however our subsequent investigation has uncovered additional points of breach.
This was a complex attack, and we are doing all we can in coordination with law enforcement to resolve it. We are still gathering the facts, and will share more directly as we have them.
Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe.
We are still on track towards the expected timeline to resume the withdrawal service in 45 hours. Deposits remain unaffected.
The outflows ceased when we paused withdrawal service earlier. We are still working with partners to freeze many of the impacted assets, and have frozen around $3 billion thus far.
We will continue to provide further updates through official Binance channels as more verified information becomes available.
tom chojnacki retweeted
An important discussion.
I hate the term “payments” for this but it’s true that if people aren’t transferring value using bitcoin then what we’ve built is pretty uninteresting (even if financially valuable).
.@jack thinks bitcoin payment adoption isn’t where it should be. We want your ideas on how @Blocks, Spiral, and you can increase adoption within 5 years. Our trajectory needs changing. Here’s more on our thinking. Now we want yours: github.com/spiralxyz/bitcoin… View article
tom chojnacki retweeted
Bitcoin being held mostly by individuals is great. But in 2025, institutions accumulated 829,000 BTC while individuals sold 696,000 (River).
Gold went this way too. In 1933 Americans were ordered to hand theirs in, and paper contracts have set its price for decades.
Bitcoin in your own wallet can't be captured. Bitcoin in an ETF already is.
Bitcoin is the only major asset class primarily held by individuals.
Bonds, stocks, and gold have existed for centuries. So naturally they are more institutionalized.
As bitcoin matures, we expect ownership to shift towards institutions. Its ownership distribution will look more similar to gold.
This is not necessarily a good or bad thing. It is simply the inevitable consequence of global adoption.
tom chojnacki retweeted
Banks still settle your card swipes with overnight batch jobs in decades-old code.
Bitcoin settles in seconds over Lightning.
Money is competing again, and the old rails are showing their age and fragility.
“COBOL is still deeply load-bearing in banking, especially at the core: account ledgers, overnight batch processing, and card/ATM authorization. The widely cited estimates are that roughly 43% of banking systems and 95% of ATM swipes run on COBOL code, and that around 80% of in-person banking transactions pass through it.”
tom chojnacki retweeted
🇵🇱 Warsaw is Poland's biggest city and it is completely safe at 1am at night
No violent junkies, no drug dealers, no street thugs hanging around harassing women (and men), no pickpockets (nor in the day btw)
No shady people hanging around the train and metro stations
Just people living chill together and police enforcing safety
You know like we used to in Western Europe?
There's a lot to learn from Poland
We climbed Krakus Mound in Krakow with @staskulesh!!!
Very cool
I think it's Pagan but nobody really knows why it's here, it's a man made "mound", like a pile of land
It's very old! 🇵🇱
tom chojnacki retweeted
AML/KYC and related data breaches create far more victims than it prevents.
Four hooded men broke into a family home in northern France at 4am on Saturday.
They bound both parents and their two kids (aged 8 and 12) with tape and forced the father to transfer €40,000 in crypto.
Investigators still haven't confirmed how the attackers found him.
But a 2024 breach tells part of the story 👇
tom chojnacki retweeted
If you're not happy single, you won't be happy dating someone.
Happiness comes from abolishing taxation and separating money from the state.
tom chojnacki retweeted
Jordan is right.
Only the payment geeks among us know how complex a 'normal' point of sale transaction really is, and that's how it should be. When you tap your card to buy a coffee, you don't want to be thinking about merchant acquirers, card issuers, or scheme interchange fees.
But the person selling you the coffee has to bear these in mind, because each of the parties in this payment chain represents an incremental and aggregating cost to them as a merchant.
Accepting a Bitcoin Lightning payment removes the majority of the fees in the payment chain. We often hear of customers asking merchants 'do you accept Bitcoin'?
But once more merchants realise the savings they could potentially enjoy, and the greater portion of the top line sale amount they could retain, we could well hear them saying to customers 'could you pay in Bitcoin?' instead.
Most business owners can tell you their rent to the pound. Very few can tell you what they paid Visa and Mastercard last year.
That's by design. Card fees don't arrive as one invoice. They're shaved off every single sale, a few pence at a time, before the money reaches your account.
Added up across UK retail, that shaving came to £1.48 billion in 2024. Double what it was in 2019.
The regulator spent three years investigating and concluded the two schemes face no effective competition. Businesses can't refuse cards, so they pay whatever the price becomes.
This week's article follows one £3.40 coffee through the fee stack and looks at the first payment rail where nobody owns the road, so nobody can raise the toll.
Come down the rabbit hole with me: bitcoincollective.co/blog/br…
tom chojnacki retweeted
Anti-KYC movement has plenty of ammunition – it should rebrand to Digital Hygiene and push the pendulum back against this insane FATF regime NOW
‼️ BREAKING: We're in contact with the Revolut hacker. According to them, they didn't only take Revolut data, they've also compromised multiple Italian law enforcement departments.
They say the operation targeting Revolut ran for six months, and that they used Italian law enforcement systems to send data requests to Revolut.
They claim to hold 147 GB taken from the Italian side, including internal docs, calendars and personal material, among it the chat logs of a federal officer arguing with his wife.
tom chojnacki retweeted
This is, unfortunately, what inevitably happens when institutions are forced to gather vast amounts of personal data.
The entire KYC apparatus needs to be revised, root and branch.
It does nothing to stop actual crime, and its main function now seems to be the provision of vast personal data honey pota that are leaked with monotonous regularity, endangering innocent and law abiding individuals who have passed on their data in good faith.
‼️ BREAKING: The threat actors who targeted Revolut with information-demand emails are now posting sensitive customer data, including that of high-profile clients such as tennis player Shevchenko and Römer, CEO of Gamdom/Skinscom.
They want Revolut to pay up. They say they'll release more messages, data and insights into how the Revolut team operates.
They're accusing Revolut of handing over sensitive information to countries outside its jurisdiction.
They accuse the company of negligence around privacy and the exposure of sensitive information.
tom chojnacki retweeted
The world’s highest court has already told Israel to return to Palestinians the remaining 22% of historic Palestine (Gaza, West Bank, east Jerusalem) that it illegally occupies since 1967.
And the political minions of the world behave as though intl law were theirs to dismiss!
This Post is from a suspended account. Learn more
tom chojnacki retweeted
When the currencies fall down for the last time - then there will be a change.
tom chojnacki retweeted
i’m sorry to inform you that zero knowledge proofs are not the solution to the KYC data leak nightmare we find ourselves in.
the solution is less KYC.
advanced cryptography for governments is a slippery slope that will only lead to a more controlled society over time.
tom chojnacki retweeted
PSA - do NOT click on links in emails (no matter who they're from, or appear to be from). Do not accept phone calls from numbers you don't recognise, and be very cautious even if the number does seem to be from a bank.
In the UK, scammers pretending to be the police are now frequently calling...
Essentially accept that we live in a low-trust/zero-trust society now, and behave accordingly.
Our third-party e-mail provider has been breached. Please be aware that the email named ‘Critical Security Alert: STM32 Entropy Vulnerability’ is not coming from us, and it’s a phishing attempt. Do not click on any link.
We have taken down the domain, and we are investigating the situation, including how the hackers got access to our legit domain.
tom chojnacki retweeted
European Citizens' Initiative: Stop requiring identity documents to access the Internet.
Please sign the online form. Please retweet.
1M names required.
No id is needed to sign.
eci.ec.europa.eu/066/public/…
tom chojnacki retweeted
There are 150 trillion government shitcoins, growing at ~7% per year.
There are 20 million bitcoin, growing at 0.8% per year, a rate dropping by half every four years.
Guess that happens next.
BREAKING: Global broad money supply surged +$10.7 trillion YoY in June, or +7.7%, to a record $150 trillion.
This marks the 9th consecutive YoY increase above +7.0%, the longest such streak since 2021.
The biggest increase over this period was recorded in February 2026, at +11.9%.
Since 2000, global money supply has risen +$124 trillion, a +6.9% compounded annual growth rate over this period.
Since 2020 alone, money supply has surged +$50 trillion, or +50%, equivalent to an average increase of ~$7.5 trillion per year.
Global money creation is expanding at a historic pace.
tom chojnacki retweeted
Leaving your coins on an exchange feels much safer, but is in fact more dangerous.
What do you think will happen when these unelected bureaucrats seize private savings or force investment in govies?
Bitcoin is insurance against all government intervention, not only inflation
