To build secure systems you must be humble. If you do not deeply internalize your own fallibility you will not go that extra mile to ask yourself "what can I do to make sure this thing is still secure even if I'm dumb and made mistakes?".
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The end of an era. One thing I always respected about Bitmex was that they did Bitcoin custody right and had a very strong technical team.
Dear BitMEX Users,
Today, we share with a very heavy heart that BitMEX exchange will shut down its operations, effective 23 September 2026 at 04:00:00 UTC.
The owner and operator of BitMEX, HDR Global Trading Limited, has made the difficult decision to close operations following a strategic review of the business.
It may not look the same today, but we are proud of our 11+ year legacy and the role we played in shaping the crypto industry. We invented the 100x leverage perpetual swap, which for most of you, was the first step to your crypto trading journey. It is now the most traded financial product in the crypto industry, adopted by thousands of users and exchanges. And we remain proud of our robust security infrastructure, which has allowed us to maintain a flawless track record of 0 customer funds lost to hacks in our entire operating history.
We want to reassure you that your assets remain fully safe and under your control during this transition period. This announcement is just to give enough time to ensure a smooth withdrawal process for everyone.
From today we strongly encourage all users to close their positions and withdraw their funds as soon as convenient. For more details on the full process, please read our blog:
BitMEX was once home to some of the greatest traders today. Our team has dedicated tremendous effort and passion into building the platform into what it is, and we are glad to have reached some of you during your time with us. To everyone who has traded, supported, and grown alongside us - thank you for your trust over the last 11 years.
The BitMEX Team
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Here's how bitcoin ownership changed hands in Q2.
It's always best to just buy and hold Bitcoin.
The Bitcoin + SPAC shenanigans give me ICO vibes. I donโt like it. I donโt trust it.
Bitcoin is 0.4% of global financial assets.
How high do you think it'll go?
One of the most important decisions you'll make is what money to save in.
A gold bar bathing the first bitcoin in 2009.
17 years later, they are set to face off for the world reserve asset.
The average fiat currency dies in 27 years.
RT @LindsayNFaust: Getting married this weekend means weโve been paying wedding vendors nonstop. ๐
We kept our wedding cash in a separateโฆ
On average, River clients convert 38% of their paycheck to bitcoin with direct deposit.
Talk about conviction.
8 billion people are speculating by not holding bitcoin.
They are speculating that their government will stop printing currency.
Your bitcoinโs location shouldnโt be a mystery.
But on many exchanges it is.
Use an exchange with Proof of Reserves.
Or withdraw it to self-custody.
Money is evolving into the digital age.
Suffering from fiat brain?
This might help.
Argentina is a country designed in a lab to cause maximal stress for anyone involved.
That game was insane. Wow. ๐ฆ๐ท
A side project I've been working on is a time-lock encryption oracle that can be easily used by humans and agents. Use it for delayed data access, embargoes, sending messages/files to the future, or anything else you can come up with.
1. Timelock a file in the browser by choosing the unlock time, drag and drop the file, and click encrypt. Easy. You then have the encrypted file to share with others.
2. When a key's time arrives, anyone with the encrypted file can decrypt it in their browser.
All of the above can also be done by developers and agents in the terminal using only curl and openssl, which all machines should have installed already. Get your agent to experiment with it!
It works by publishing an RSA key for each minute for the next 30 days. The system then releases the corresponding private key at the top of each new minute. It was designed to be maximally simple and compatible with all systems.
This is not a commercial project and is not related to @River. I just wanted something like this exist on the internet to see how people use it. Have fun!
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The Prime Trust estate is attempting to claw back an existential amount of money from multiple Bitcoin exchanges who built on them. You should be sure to self custody your coins, or at a minimum keep them with a custodian who built their own custody and has proof of reserves.
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