just a sidenote:
the reason lambo's are defined as a status symbol is not just wealth, its also health
lambo's design means a obese person is not going to be a lambo owner. so those that buy lambo's are showing they have attained wealth and health status.

obese richguys usually show it off in a chauffeured bently or limo of something of larger design

..
however it technically is true.. for both statements
the coins are sold.. but also the coins are bought (thats how trade works) the bought coins are then moved to blackrock

when coins unlock(within coinbase) from grayscale, they are sold for fiat. meaning FTX gets fiat (FTX dont retain the coins)
AP's for blackrock use fiat to buy baskets of btc within coinbase to lock into blackrock
they do it via coinbases hotwallet of coins.
unlocking-sell-buy-relocking

coins cannot move "in-kind" from grayscale to blackrock. they have to be sold at the custodian(coinbase) for cash and then bought in cash to then lock into the other ETF(via coinbase)

he CREATED 2 seeds
the seeds had no coin nor history.. so he didnt guess anything.. he didnt brute anything. he just chose 2 new seeds


most wallets these days, even if you input 12 random words. would notice your 12th word is wrong and do a checksum on the 11 words plus couple bytes of 12th word and correct to display new 12th word using the real checksum

there are lots of social trend of some people (unrelated to bitcoin) shouting YOLO LAMBO, and other lambo related stuff as sign people attained wealth status

and then people getting great gains in bitcoin showed it off via getting a lambo

also there were some bitcoin conferences where organisers hired some lambos to be parked out front of the conference as a PR campaign

"open commercialisation"
ding ding proof CSW is not satoshi

i too thought his settlement terms were a comedy script which declared him a proven nutjob

heck even his word of "database" instead of "ledger"
lets just use googles best top search answer to show how little he understands things

he could have learned so much in 3 seconds but decided to show he is an idiot

anyone still confused by brics economics...?

well go check out iraq
to join brics they had to ban using the dollar and.. guess what.. not use yuan as a yuanization, nor move to a new single currency global system, but instead re-instate its iraqi dinar. yep, to join brics iraq needed to have its own currency, to move away from us dollar reliance.

(it pays to actually research)

value stored in byte form on the blockchain is measured in sats..
yep the blockchain does not understand what a BTC is
btc however is just a GUI expression (just math multiplication at display level of software)
expressing sats amounts in a more compact way for visual ease of user experience

the REAL RULES of bitcoin is actually
starting from 5000000000 units awarded per block, where rewards half every 210,000 blocks

without breaking any code of unit audit rules of the blockchain. coalitions of economic nodes(merchant services/exchanges), devs and mining pool nodes can simply decide that a btc is not sats/100m but sats/1m where by someone with legacy 0.5btc now has 50btc in new math and there being 2.1b btc total eventual circulation, and would not break the unit logic of blockchain data to cause more units. thus no need to even need hardforks or breaking of blockchain logic

EG gold exchanges changing from "gold"=1kg to "gold"=1 ounce to "gold"=10grams.. without having to find/mine more actual gold

..
devs can also break the blockchain logic rules. to cause more units to be produced per block in multiple ways. such as not half every 210,000 block. but this would require majority consensus (again though mainly just the devs, economic nodes and mining pool nodes), where by users nodes would just update blindly to stay in communication and in sync with the services of the network

there is no brics currency (singular)
BRICS plan on a multi currency model

dont think of savings as wealth creating.
think of savings as a small pot of like 1-3months of resources to save you(rescue you) when in dire need.
(saving=rescue fund.. rather than "saving"=wealth accumulate)

investing is the wealth accumulation to hedge against inflation

side note
china developed many "free trade zones"
which opened china up more then some western countries that want to control trade.

heck even the UK brexited EU so that the UK can set up its own freeports to emulate chinas free trade zones
yet the UK is still having issues setting up freeports even now years after brexit

UK freeports are a gimmick compared to chinas zones.. UK freeports are just a industrial/business piece of land, only from for a few businesses to manufacture/repackage goods

china offers better independence of international trade..
but western media love to find small nuggest of negativity about china, as their whataboutism to hide the westerns issues. but dare anyone point out the whataboutism to reveal the issues with western countries. topics end up spiralling into patriotic arguments of who can show western adoration more. and the facts get dismissed and replaced with admirations

the only issue with giving/lending to friends/family, is who you give it too
if you give it to someone you know is not reliable, and you expect it back, especially if its an amount that will trigger emotion if lost. just say no

however if the friend/family is also on the generous/genuine side knowing they are not the nefarious type to skip out on bills/obligations
and you help them out in a true time of last resort need, with a loan at a 0% rate with repayments in a affordable way thats better then any other offer they can find. (where there is no non-repayment excuse) and you have it wrote out and scheduled by seeing them set up their bank account to make regular payments on their income day+1 so they cant even say they have no money left.  then you can protect yourself

the main problem is the friend/family types that are not reliable with their finances intentionally. so with those types of friends/family, avoid financial support conversations and instead just give verbal advice to them to manage funds better

the alistair milne tweet.. doesnt make sense

he explains
'DCG has ~$2b of debt.. so needs high fees to use high fees to pay off debt'
'DCG has ~$2b of debt.. so needs to sell $2b of its locked coin to pay off debt'
all in the same tweet..

however even at a discount lets say $40k/btc
selling just 50,000btc would cover $2b
however grayscale dropped by over 100k and still dropping. (502k from over 640k = over 138k)
or in fiat terms they took $5.5b+ out of their own game

its not a high fee to use fees to pay debt. its a high fee to create a closed door to not introduce new share buckets to compete with the need for grayscale to sell its own shares and then relinquish control of those coins

from all reports (not western media)
in 2019 china did not want to rush to judgement about outbreak until it was truly confirmed even while doctors were gossiping on social media about their patients new symptoms
but by 2020 china announed it and instantly went into hospital building and they managed their covid issues faster then US/UK

so pretending china was hit hard is a stretch compared to people in america having issues even in 2022-24


spy balloons? not really in comparison to N.korea threatening nukes, or russia going to war..
come on now. dont go full exagguration

yep they did 'dun goof' on that, over developed property with an expectation of a baby boom from 2016+, which never happend due to the young female adults still indocrinated with their sex education of one child parenting (they should have waited a decade for the post 2016 pupils taught aof 2-3 child parenting to then grow up into adults to then be at the age to settle down and want multiple room apartments

in short they shot for glory too early. but the apartments will be ready by the time those pupils taught that 2-3 kids is fine, grow up to be ready to start a family.. so just a delay, not a complete loss

well china taking wealth out of the us to concentrate on chinese projects.. logical
much like saudi taking money out of china to concentrate on saudi neom city.. logical


not manageable.. ?
last time i checked it was the US raising the debt ceiling and then having government take administrative breaks.
last time i checked america lost control of its borders
last time i checked america had more mexicans in detention camps than chinese had uyghurs in detention camps

im ancestered, born and raised british(western) but even i can see passed all the FUD of the fox news style rhetoric throwing muffled numbers about to try to make china look bad to hide how bad things are getting in the US

im guessing you are probably in the fox new-esq belief that china control the citizens lives and finances via an app that requires chinese whole life story and reputation..
well test your theory, go to a travel agent that does currency swaps and ask for yuan.. be surprised they hand you bank notes without needing you to register life to chinese app

bitcoin is a currency..
if you mean treat as direct money for goods/services. thats another detail
but currency is a umbrella term.
even your spouse and you swap sexual favours as a form of currency
even your neighbour and you swap beers or help fixing a car as favours in a form of currency
anything can be a currency

but if you mean a more defined subclass of currency such as money
you wont find many places right now due to the fee's causing people to be stand-off-ish at the moment to use it as direct tender for goods services

most end up using locked coins with pegged subnetwork IOU units of measure or centralised services to move IOU value which settle-up later on


there were many organisations, they designed leaflets and posters and tutorials and done some events.
these days its more locally done by people meeting up in their region/area,
or individuals setting up websites that list where bitcoin ATM's are and bitcoin accepting services.
but most of those have switched to managing funds via centralised services or locking funds up to use middle men required subnetworks to evade the bitcoin fee's (avoid using actual bitcoin network)

                                                                                                   ^        ^
                                                                                                    A        BC
at first i thought pools were letting in zero fee's .. then realised it was just a couple "empty blocks"
A https://www.blockchain.com/explorer/blocks/btc/827402
B https://www.blockchain.com/explorer/blocks/btc/827452
C https://www.blockchain.com/explorer/blocks/btc/827453

just checked on a few recent actual blocks.. rather than averages of the fee buddy and charts here..
and some blocks do average below 20byte/sat (i know feebuddy measures in vbyte, which is different )

getting back to the hodlonaut case

(the UK one)
https://www.coindesk.com/policy/2024/01/26/uk-supreme-court-refuses-craig-wright-appeal/

CSW last summer was not happy with his £1('here have a lollipop, crybaby') in damages for defamation. and so wanted to appeal...
in december the courts said no

seems the court rejected CSW appeal last month and hodlonauts lawyers didnt hear about it until this week, neither did coindesk check

---

as for the COPA case
CSW also released a letter pleading to settle the COPA case.. but with conditions that benefit him..
https://www.prnewswire.com/news-releases/dr-craig-wright-issues-settlement-offer-to-copa-members-and-all-parties-in-upcoming-intellectual-property-litigation-302043611.html

 that too was rejected by those in COPA

we are not in the solo mining days of 2009-2011

these days miners are ASICS (2013+)
the act of mining is the hashing of a block candidate

asics have no hard drive to store the blockchain.
asics do not collate transactions
all a asic does is hash256 a header(mine)

even the misleading concept of "solo ckpool" is still a pool managing the transactions where only the reward is paid out to the winning miner of the pool that solved the difficult hash..

thats just a private pool.
asics miners do not store the blockchain so you still need a manager to collate transactions and communicate that block template to your miners

miners dont see/touch transactions.. mining pool(managers) do... miners mine block candidates passed to them
mining pool(managers) dont mine, they validate and collate transactions into candidate blocks


so wording it correctly
miners mined a candidate block before a mining pool was able to include any transactions

if a server has a file that lists their private keys and labels them to the associated address, to know which key is for which address
then a hacker can just scan the server for addresses in a file, and grab any/all files containing that address, thus then grabbing privatekey just by association

for instance bitwise is using legacy, thus no multisig of split keys on different devices, so by hacking bitwise computers and only downloading files containing its reserves bitcoin address, they can quickly mostlikely grab a file with privkey too

there is a non-zero bottom with bitcoin (unless the technology broke(code bug))

even if hobby miners cant mine. there is a significant amount of mining farms that are not day players but instead already invested 2 years worth of electric contracts and 2 years of hardware lifetime. so they will mine no matter what..
and they want to break even so they wont sell daily or at a loss, they will just accumulate coin as they dont have daily costs. its all prepaid longterm


this means hashrate wont drop to zero. this also means there is a non zero cost of mining even most efficiently. which everyone on the planet sees as a base rate no one can acquire for less and everyone cant afford to sell for less if they acquired.

everyone will then project their own personal/regional higher costs and if the market is cheap they will be happy to buy bitcoin cheap

this will and does cause a non zero market price support.
yes traders can try to sell large lumps of bitcoin to push the price down, but even they will run out of coin.

the amount that the price can tank is not down to zero (unless bitcoins code was broken)

so these corrections back to value levels. are not "tanking to zero" risk.. but instead temporary discount opportunity

---

on the other hand PoS coins dont really have any "work" cost of mining.. so PoS coins can tank to zero
especially coins which do not have their own market sentiment but are instead shadow tracing bitcoins price.