I'm writing about very real laws in very real jurisdictions in which Bitcoin miners, pools, noderunners, and wallets operate. Real laws in real jurisdictions are quite far from being "speculative boogeymen." There are, today, libraries full of an extremely wide variety of laws that apply to an extremely wide variety of arbitrary content.In all the technology examples you list, it is possible for the operators to *delete* data once they have obtained knowledge that it exists, without otherwise disrupting the ...

"Governance" in action. Trust minimization via protocol is radically superior to the hot messes you get from "governance."The Lunduke Journal (@LundukeJournal):The majority of the NixOS Moderation Team (5 of 7 of them) has just mass resigned — and are threatening to leave the project entirely if their demands are not met.This appears to be in response to the NixOS Steering Committee (the elected, governing body) attempting to make https://t.co/uF6mE9ZNZV ...

Core Insights - Backpack's crypto exchange is set to debut in the U.S. this year, starting with spot trading in several states, as confirmed by CEO Armani Ferrante [1] - The company, established by former employees of FTX, has been focusing on markets in Japan and the EU while preparing to obtain necessary licenses for U.S. operations [1][2] - The U.S. market is prioritized by Backpack due to its size and familiarity to the CEO, who believes it offers the best opportunity for rapid market share growth [2][7] Company Operations - Backpack's self-custodial wallet has been available in the U.S. since its establishment in 2022, with a focus on regions like Dubai for crypto trading expansion [2] - The European arm of Backpack is registered in Cyprus and has begun offering perpetual futures under the MiFID II framework after acquiring FTX EU earlier this year [3] - The exchange has facilitated $170 billion in trading volume since 2024, indicating significant operational scale [7] Competitive Edge - Backpack aims to differentiate itself through "trust minimization," providing daily proof-of-reserve updates to enhance transparency and trust among users [4] - The company emphasizes the need for financial systems to be transparent and verifiable in real-time, contrasting with the opaque systems that have led to industry failures [5] - Despite regulatory challenges, Backpack maintains a strong presence in the U.S. with more employees than in any other country, indicating its commitment to the market [6]

L2 Construction & Strategy - The optimal approach to building an L2 involves maximizing the utilization of the L1's inherent features, such as security, censorship resistance, proofs, and data availability [1] - L2 logic should be streamlined to focus on sequencing and proving, or solely proving if based [1] - Ethereum L2s enable trust minimization and efficiency, which enterprise blockchains sought in the 2010s but couldn't achieve [2] Industry Trends & Predictions - There is a prediction that most alt-L1s will transition into L2s [2] - Celo's integration into Ethereum's ecosystem, including carbon initiatives, inflation reduction from 2% to 1%, block time reduction from 5s to 1s, and legacy code elimination, serves as a playbook for this transition [2]