1/ Today @HRF announces 375 million satoshis in Q3 gifts from its Bitcoin Development Fund to 10 projects spanning the globe.
This round focuses on Bitcoin privacy, ⚡, dev education in emerging markets, improving user onboarding experience, and continued core development 🧵 👇
2/ 50 million satoshis to @bernard_parah, @actuallyCarlaKC, Tim Akinbo, and @ihate1999 for the creation of qala.dev, a program to help train and grow new Bitcoin developers in Nigeria and wider Africa. Special thanks to @paxful for making this gift possible.
3/ 50 million satoshis to @diopfode for his efforts with bitcoindevelopers.academy to help individuals in West Africa and especially those living under the colonial CFA franc system to build and use Bitcoin applications. Special thanks to @ManuelStotz for making this gift possible.
4/ 50 million satoshis to Vasil Dimov for his work on Bitcoin Core. Vasil has implemented Tor v3, BIP155, and I2P support, and will use HRF funding to implement CJDNS support, making the network even more secure against partitioning attacks and improving privacy.
5/ 50 million satoshis to @fanquake for his work on Bitcoin Core. Michael has been contributing since 2012 and has been a core maintainer since 2019. This grant will help him continue his valuable work, ensuring that the open-source code we all use runs efficiently and bug free.
6/ 50 million satoshis to @BtcpayServer for the creation of an open-source design guide to help merchant and donation recipient onboarding for Bitcoin payment and gifts. This will improve the user experience for companies, foundations, and donation-receiving orgs accepting BTC
7/ 25 million satoshis to @Marketsbylili + @remyers_ to establish an open-source research project about BTC in low-bandwidth environments. This resource is targeted at Bitcoiners in developing countries + emerging markets. Special thanks to @danheld for making this gift possible.
8/ 25 million satoshis to @chaincaseapp for their work on an open-source iOS Bitcoin wallet that features CoinJoin, coin control, and Tor. HRF funds will help the team add PayJoin to the wallet to help improve user privacy.
9/ 25 million satoshis to @SeedSigner for their work creating inexpensive open-source hardware wallets to enable people to be their own bank for as little as $50. Encouraging open-source self-custody in difficult political environments is a priority for HRF moving forward.
10/ 25 million satoshis to @lnbits for their open-source Lightning wallet. HRF support will go towards ongoing integration of LNURL, allowing users to more easily interact with the Lightning Network.
11/ 25 million satoshis toward a bounty offering a reward for the creation of a JoinMarket app for @getumbrel. This will help Umbrel users increase the privacy and fungibility of their Bitcoin transactions. Special thanks to @ODELL and @benthecarman for joining the bounty!
12/ HRF looks forward to announcing its next round of donations in Q4 of this year.
We hope these gifts inspire more people to learn about and contribute to these impressive projects.
For more information, and to submit ideas for funding, please visit HRF.org/devfund
2/ It all started in the seaside village of El Zonte. With a population of just a few thousand, dirt roads, tarp and sheet metal roofs, and no supermarket, most residents don't even have bank accounts. Historically, it was a place where residents were caretakers or fishermen.
3/ Twenty years ago, no one would have thought such a place could change the world. But two young men in town received a gift—the ability to dream—from a social worker, who taught them how to hope for a better future. @jorgebitcoinES and @romanmartinezc began to build.
“The plan is for Ukraine to make Bitcoin legal tender by the start of 2023 and create a ‘duel-currency country’ where Bitcoin sits alongside the fiat hryvnia before potentially being phased in as the dominant financial structure”
Note: this seems like speculation based on recent public statements and actions of the Ukrainian government, which is pro-EU/NATO. What’s interesting to consider is that Ukraine today is very much a key piece of US foreign policy, and on America’s side vs Putin, etc
As @anilsaidso reminds us, some politicians in Ukraine have disclosed owning hundreds or even thousands of Bitcoin:
2/ “If people can’t hoard physical money, it becomes much easier to cut interest rates far below zero; otherwise the zero rate on bank notes stuffed under the mattress looks attractive. And if interest rates can go far below 0, monetary policy is suddenly much more powerful”
🥶
3/ “Initially, CBDCs will almost certainly be designed to behave as much like ordinary bank notes as possible, to make their adoption easy and minimize disruption, while use of physical cash will be allowed to wither away. But... monetary caution is unlikely to last.”
1/ As Tuesday's Bitcoin legal tender law looms for more than 6 million Salvadorans, many if not most of them fear a big monetary change.
This is partly because of the dollarization which occurred exactly 20 years ago, in a similarly rushed, top-down way 🧵 🇸🇻
2/ Last week I attended the anti-Bitcoin law protest in San Salvador. This is the secretary of a union for judicial employees.
She was against the law for many reasons, but a big one was that last time the govt changed the money system in 2001, it was bad for the lower classes.
3/ Dollarization was fairly unique in El Salvador's case. The country wasn't experiencing high inflation, or any kind of economic crisis. But policymakers said it would help bring down interest rates and fuel the banking sector. Which it did. But it had unintended consequences.
@joshtpm 1/ Josh, what's remarkable is your arrogance, ignorance, and financial privilege. 1.3 billion live under double or triple digit inflation and 4.3 billion live under authoritarianism. Millions of them have turned to BTC as a way out. That you would mock them is bizarrely cruel.
@joshtpm 2/ To give you an idea of the scale of what's happening here, @paxful is just one BTC p2p marketplace. They have ~ 2M users in Nigeria alone. Exchange operates in India peg Bitcoin users at north of 10M. There are millions more from Argentina to Turkey to the Philippines.
@joshtpm@paxful 3/ Why would they turn to BTC? Unlike you--who lives in a liberal democracy with a reserve currency--they live under weak currencies without proper rule of law and civil liberties. Hence they turn to an open-source money that can't be censored, remotely confiscated, or debased.