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Welcome to Bitcoin Therapy. The newsletter that’s like popping bubble wrap. Very satisfying, and you’re sad when you run out.

First, happy and relaxing Sunday to 2,467 patients reading today. 👋 

This week’s email was fun to write. Crypto is falling apart, and I’m here for it. Take a comfortable position and read along.

Here’s what I got for you this week:

• CSW exposed as a fraud by a close insider. The world is healing.

• A US senator who called Bitcoin ideal for criminals..turns out to be a criminal

• “Decentralized” network hacked for $200 million

Estimated read time: 2 minutes and 41 seconds

But first, a big thank you to Stamp Seed for sponsoring this week’s email and keeping this newsletter free for the reader ❤️

BSV INSIDER EXPOSES CRAIG WRIGHT AS FRAUD

BREAKING….everything in the BSV-land.

Nchain (a company closely related to CSW) is in crisis mode. Here’s the timeline of what happened:

• CEO Christen Ager-Hanssen informed the board that CSW is a fraud

• Christen handed a whistleblower report to shareholders

• Christen requested that CSW be booted from the company and removed from the Nchain website (which he did succesfully)

• Christen leaves the company

• 3 board members also leave

So, saying the CSW and co are in full panic mode would be an understatement.

Christen is spilling the tea, and I’m here for it 🍿

And Calvin Ayre (CSW’s biggest fanboy and financial backer) is in panic mode, trying to minimize damage. He is not doing a great job.

Calvin: Christen is amazing. He's doing great <3

*Christen publicly calls CSW a fraud*

Calvin: Christen is a lying grifter with a bad performance

But the plot thickens 🍿

Christen wants more blood, so he leaked an email from Calvin for Craig (allegedly). And it’s good. Real good.

Here’s a TLDR of the email: Calvin tells Craig that his legal bills won’t be paid unless he signs in court and doesn’t believe Craig is Satoshi. You can read the full email here.

This is significant because Calvin is the only person standing between Craig and the bread line.

I'm not going to lie; CSW’s closest backers turning on him was not in my bingo card for 2023.

Anyways. The house of cards is beginning to crumble. Craig Wright is a fraud. BSV will crash, and this clown show will finally end. Good riddance, you parasite.

Writing your seed words on paper = ❌ 

Stamping your seed words into titanium = ✅

I stand by the title. Why? Because securing your generational Bitcoin wealth on a piece of paper is… let’s just say, not very smart.

This is why I use Stamp Seed - a titanium seed storage solution.

• 100% offline cold storage =100% peace of mind

• Heat-resistant up to 3,000ºF, rust-proof, crush-proof, & time-proof

• No loose pieces - no risk of losing crucial parts

It’s estimated that ~30% is lost forever. A big reason why is poor seed phrase security.

Be your own bank, anon. Get your Stamp Seed here.

PS: You get 15% off your purchase with the code ‘Therapy15' 👀

Thanks for the support! ❤️

ANTI-BITCOIN SENATOR ARRESTED FOR CORRUPTION AND BRIBERY

Pot, meet kettle.

And now, meet Robert Menendez. In his free time, Robert likes to sh*t on Bitcoin.

2022: “Because of the anonymous nature of Bitcoin transactions, the digital currency is an ideal choice for criminals.”

2023: Menendez indicted for corruption. Since 2018 accepted a $580,000 bribe in cash, gold bars, and luxury cars

Poetic, lol.

So what did Bobby do?:

• Used his influence to enrich three businessmen

• Remove criminal investigation against said businessmen

• Shared sensitive US government info with the Egyptian government

And now Bobby is going to jail.

Needless to say, it’s ironic that a senator who bashed Bitcoin for enabling bribery and corruption… was charged with bribery and corruption.

A classic example of “rules for thee, not for me”

The funny part? Because of inflation, the $480,000 cash bribe Mendelez received lost 22% of its value.

If he had invested the bribe money in Bitcoin in 2018 (an asset he was shitting on in front of the Senate), he would be up ~350% now.

The lesson: if you’re going to commit fraud, at least do it with hard money!

Anyway, nothing new here. Just politicians doing what politicians do best.

“DECENTRALIZED” NETWORK HACKED FOR $200M

It’s been *checks notes* 0 days since the last crypto hack.

Meet Mixin Network - a decentralized network that had its cloud server hacked.

The damage? $200M lost.

“But wait, how can a decentralized project have cloud servers hacked?”

Well, as it turns out, the Mixing guys made a small typo in their marketing material. It was supposed to say ‘centralized’ and not ‘decentralized’. Oops.

If your so-called ‘decentralized’ project uses words like:

• "the database"

• "cloud service provider"

• "We have contacted"

Run. Fast.

Anyways. Always assume an inside job when there’s a crypto “hack.”

And remember always to hold your own keys. I recommend Stamp Seed for this.

QUICK LINKS ⚡

• Bitcoin could become the battery for storing and utilizing wasted energy. ESG trolls in disbelief.

• HTX (formerly Huobi) hacked for 500 ETH ($8M)

• This Guatemalan guy is turning vegetable oil into bitcoin. Seed oils are not so bad after all!

• You can ride this bike and get paid in Bitcoin

THIS WEEK IN A MEME 📅

Saylor stacked again. Did you?

FROM THE ARCHIVE 📁

6 years ago.

One of the greatest texts in Bitcoin history.

Not relationship advice.

PATIENT REVIEW 🧠

That’s it for this one. Big thanks to our sponsor Stamp Seed who allows us to write Bitcoin Therapy.

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See you next Sunday,

Bitcoin Therapy Team

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