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GM - Arsen here. ☕

Welcome back to Bitcoin Therapy. We’re like the Swiss train of Bitcoin newsletters - reliable and always on time.

First, happy and relaxing Sunday to 3,071 patients reading today. 👋 

Alright, here’s what I got for you this week:

• The Unholy Alliance: Elizabeth Warren and Jamie Dimon team up to kill Bitcoin

• Mainstream media publishes a pro-Bitcoin article. This is what winning looks like.

• JPEG Spammers made Bitcoin unusable - is the little guy priced out?

Estimated read time: 3 minutes and 5 seconds

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THEY WANT TO CONTROL YOU

Bitcoin’s #1 hater is back at it again.

Elizabeth Warren, you’ve reached peak tyranny.

What happened? Warren is proposing a bill to “crack down on crypto”

If passed, it would:

1. Extend the bank secrecy act to wallets, miners, and payment providers.

2. Force non-custodial Bitcoin services to have KYC

This is bad. It would turn EVERY non-custodial wallet into an unwilling surveillance agent.

The good news? 

1. Warren’s proposal is impossible to carry out in the real world. Many Bitcoin wallets are open source and have pseudonymous developers making them hard to target

2. Warren is all bark and no bite. She has proposed 300+ bills over the last 10 years and… *checks notes*… 0 become laws

But Warren is not alone. She’s had a history of fighting against big banks. That's why she’s teamed up with…Jamie Dimon? Lmao.

Their concern: Bitcoin is a systemic risk to the existing financial system (and how Jamie and Warren make their money)

Well, they’re not totally wrong - Bitcoin IS the antidote to these parasites who think YOUR money is THEIRS.

Also, if Warren and Dimon are on your team…you’re the problem.

But this is expected. The elites will do everything to stay in power.

Remember that one time Warren lied about being Native American? Well, she’s lying again.

That’s all they can do.

And all we can do is keep telling the truth.

Because the truth will set you free.

Also, go f*ck yourself, Elizabeth. 🖕

ORWELLIAN FUTURE IS HERE

It’s 2023. Everything you do is being monitored.

That one time you ran out of toilet paper and had to choose between your socks and a T-shirt? Yup, they saw that too.

You can’t undo that incident but can achieve Bitcoin privacy by coinjoining your BItcoin.

This blog explains why it’s essential for keeping your Bitcoin private and thus SAFE.

I recommend Wasabi Wallet for this. Here’s why:

1. Beginner friendly

2. Privacy by default

3. No minimum coinjoin amounts

What are you waiting for? Take back control of your privacy and freedom.

250,000+ Bitcoin turned private - Download the wallet at wasabiwallet.io

BITCOIN IS OFFICIALLY GREEN

There are only a few things I never expected to see in my lifetime

• British food that looks appetizing

• XRP army members getting girlfriends

• The Financial Times writing a positive article on Bitcoin

Well, the XRP fam are still virgins and the British cuisine consists of mash and gravy. BUT The FT just published its first pro-Bitcoin ESG article:

This is huge. The FT is the epitome of the legacy narrative that has been anti-Bitcoin since its existence.

So, why the change in the tone?

I see 2 options:

• They’ve run out of provably false and intellectually lazy Bitcoin narratives —> They realize being wrong 100% of the time hurts their credibility and trust

• FT got a call from Larry Fink. The BlackRock overlords are deploying their PR and marketing propaganda before the ETF launch

I think it’s a mix of both, but mostly the second. The media says what the elites want them to say.

The lesson? All you need is a bit of money and you can buy their opinion. As simple as that!

Thanks for making Bitcoin green, Larry! ♻️

Anyways. The truth can be hidden only for so long.

Expect more of these narratives shifting pro-Bitcoin as the Bitcoin ETF approaches.

Stack accordingly, anon.

“SPAMMERS” HAVE MADE BITCOIN UNUSABLE

Mempool is on fire! 🔥🔥🔥

Here’s live footage of Bitcoin miners right now:

In fact, miners earned 22.5 BTC in fees during just 3 blocks yesterday.

And just Block #821484 had a reward of 13.405 BTC

Bitcoin fees have crossed 600 sats/vB today. That’s a 600x increase in less than 1 year.

Transaction fees have surpassed the subsidy for multiple blocks in a row now.

This has never happened before. Ever.

The reason? Bitcoin Ordinals…again.

Regardless of what you think of Ordinals (I think they’re dumb), this is bullish for Bitcoin. High Bitcoin fees = secure bitcoin network

But I’m not going to lie, it feels bittersweet.

I always expected and cheered for full blocks. I just did expect them to be full of dickbutts and apes.

Just remember: it was always going to go this way. Even 1% of the world using Bitcoin would result in high fees.

This is an important reminder to the developers and the community: Bitcoin L2’s are becoming more critical every day

Also, ‘Bitcoin has security budget problem’ FUD = DEBUNKED

Take that, mETH-heads.

Anyways. High fees aren’t a threat to Bitcoin.

The biggest threat to Bitcoin i a divided consensus

Divided consensus = risk of a hard fork

It’s good that ordinals aren’t that dividing of a topic 😌

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(sarcasm)

QUICK NEWS⚡

• Ledger got hacked - $500,000 stolen from users!

• Shakepay, a Canadian Bitcoin exchange, leaks customer information

• You can earn 2,000 sats by leaving Bitcoin Therapy a review

THIS WEEK IN A MEME 📅

Welcome to math.

FROM THE ARCHIVE 📁

Date: 2013

Price: $1,100

Decision: Legendary

PATIENT REVIEW 🧠

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See you next Sunday,

Bitcoin Therapy Team

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