field notes

it has to be chaotic...

the ladder is disappearing. keep moving deeper.

the ladder is disappearing. keep moving deeper.

The fiat system is pulling up the ladder, and I think only 2.5% of bitcoiners will make it to the end. Most will sell their bitcoin back for fiat. Others will believe they escaped while slowly being captured by the same control system they were trying to leave.

They will try anything to stop us.

The control system and the free market of Bitcoin cannot coexist forever. One depends on controlling the money and everything that sits downstream from it. The other removes that control. Nobody has to sit in a room and plan every attack. The incentives are enough. Any system that needs more control to survive will keep reaching for more information, more permission and more custody.

The attack we are experiencing now is against self-custody. A lot of bitcoiners who thought they did everything right have already been captured. They bought bitcoin, moved it off an exchange and followed the people they trusted. Then they gave away their identity, their address, their holdings or the map to where everything sits. The bitcoin may still be in self-custody, but the person is inside the system's database.

And this will not be the last battle. The attacks will change because every time Bitcoin survives one, the next weak point becomes more valuable. Custody, privacy, movement, inheritance, access to the network - every place where you still need permission will be tested.

Those who survive this and the battles coming after it must go deeper down the Bitcoin rabbit hole. It is the only way. Holding the asset while staying completely connected to the fiat system is not enough. You have to keep moving your energy into Bitcoin and into tools, relationships and places that cannot easily be switched off from above.

Do not trust anyone with information they do not need. Assume every piece of information you give out will eventually be captured, combined and used. That does not mean living in fear. It means understanding the world as it is and reducing the number of people and systems that can make decisions for you.

We can and will do it, but complacency will take more bitcoiners than any single attack. Listening to influencers and copying what worked for someone else is how you stop thinking for yourself. The deeper you go, the more responsibility moves back to you. That is the point.

Keep moving.

- daniel · 13 august 2026

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