TD₿: Is Bitcoin Being Absorbed Into the System It Was Built to Destroy? - (a Swan Signal Live video segment) with Brady Swenson, John Haar, Steven Lubka and Brandon Quittem
TL;DR: Bitcoin’s institutionalization brings accessibility but raises centralization concerns. Is it a Trojan Horse accelerating adoption or a threat to its core principles?
Hey Bitcoiners,
In today’s video, we cover how State Street and Citibank have launched Bitcoin and digital asset custody services, marking a major step in Bitcoin’s integration into traditional finance. This follows regulatory shifts, including the repeal of SAB 121, and statements from Jerome Powell supporting banks’ involvement in crypto custody.
While this move enhances institutional trust and security, it raises concerns over centralization and Wall Street’s control over Bitcoin.
A key risk is the potential for financial institutions to dominate Bitcoin custody, introduce fractional reserve practices, and influence regulations to favor large custodians. While self-custody remains ideal, only about 1% of Bitcoin holders may practice it, though they could control up to 50% of the supply.
Institutionalization is inevitable, but decentralization efforts must follow to ensure Bitcoin remains a neutral, censorship-resistant monetary system. The challenge will be maintaining Bitcoin’s independence while balancing its integration into the broader financial system.
Tick tock next block,
The Swan Education Team
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Welcome to Bitcoin: 101 Series
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Quote of the Day
“Bitcoin is the great motivator for society.”
- Optimist Fields
Job of the Day
QA Engineer
Torino, Turin, Italy
Full Time / Engineering
Blockstream was founded in 2014 by Dr. Adam Back and a group of fellow cryptographers and engineers who were passionate about Bitcoin and its potential to change the future of finance. Focusing on building fundamental Bitcoin infrastructure, Blockstream quickly became one of the industry's leading technology powerhouses.
In pursuit of our expansive vision, we’ve built a full stack of innovative products on top of the Bitcoin protocol, from layer-2 projects like Liquid and Core Lightning, to end-user software and hardware wallets like Green and Jade. Our brand stands for innovation in the Bitcoin community, and we’re growing our team to accelerate the future.
We are currently growing our team and looking for QA Engineers to work onsite in Turin, Italy. As a QA Engineer, you will be responsible for designing, implementing, and executing test strategies to ensure the stability and performance of our Bitcoin and blockchain-based applications. You will work closely with developers, product managers, and devops engineers to identify issues early, automate testing processes, and maintain high-quality standards for our products.
What You Will Be Doing (Responsibilities)
Develop and execute: test plans, test cases, and test scripts for blockchain-based applications and APIs.
Design, implement, and maintain automated testing frameworks for functional, performance, and security testing.
Conduct manual and automate testing of transactions, wallets, payment systems, and decentralized applications.
Identity, document, and track defects using bug-tracking tools (e.g. Jira, GitHub).
Collaborate with developers to conduct feature reviews and ensure testability of new features.
Perform security testing to detect vulnerabilities in products.
Work closely with DevOps to integrate testing into CI/CD pipelines, and optimize test execution in cloud-based environments.
Conduct regression testing and maintain a robust suite of automated tests to prevent system failures.
Research and implement test practices for blockchain and fintech QA methodologies.
What We Look For In You (Required Qualifications)
2+ years in software quality assurance; preferably in fintech, blockchain, or security-focused industries.
Proficiency in automation testing frameworks.
Strong understanding of Bitcoin and blockchain technology.
Experience with API testing tools.
Knowledge of scripting languages.
Understanding of security testing methodologies, including penetration testing and vulnerability assessments.
Experience with performance testing tools.
Strong analytical and problem-solving skills.
Ability to work in a fast-paced, remote-first, and collaborative environment.
Excellent communication and documentation skills.
Not your particular skill set? Check out all the Bitcoin Jobs at bitcoinerjobs.com.
In the Headlines
MicroStrategy Raises $2B in Convertible Notes for Massive Bitcoin Acquisition
MicroStrategy, now rebranded as Strategy, announced a $2 billion convertible senior notes offering due 2030, with proceeds primarily earmarked for bitcoin acquisitions and corporate purposes.
The 0% interest-bearing notes are unsecured and convertible into cash, stock, or a mix of both, with optional redemption starting in 2027 if the stock exceeds 130% of the conversion price. Investors can also demand repurchase in 2028 or upon a major corporate change.
Swan Shortie of the Day
Event of the Day
Bitcoin Awake Festival 2025
A Celebration of Bitcoin, Life, and Consciousness in Costa Rica
February 20–24, 2025
Awake Centre, Uvita, Costa Rica
About the Festival
This is not just another Bitcoin conference—the Bitcoin Awake Festival a celebration of life with Bitcoin in one of the most spectacular places on Earth: Costa Rica. Through a twist of fate, we’ve joined forces with Awake Earth Festival to create a unique fusion of music, Bitcoin workshops, and thought-provoking talks.
This festival is your chance to:
Learn about Bitcoin, life, health, nature, and spirituality alongside like-minded people.
Experience eclectic music in a breathtaking jungle paradise.
Why Attend?
We believe Bitcoin is more than just a financial revolution—it’s a tool to elevate human consciousness and pave the way for future generations to thrive.
If you live in Costa Rica, discover how Bitcoin can reduce financial friction while deepening your spiritual connection.
If you’re traveling from overseas, connect with fellow Bitcoin time travelers and engage in one of the most immersive Bitcoin experiments in the world today.
Location: The Golden Triangle
The festival takes place in Costa Rica’s Golden Triangle, a renowned global energy vortex consisting of:
Uvita, Dominical, Ojochal, and Tinamaste.
A hub for seekers redefining the way we live and love on Earth.
A thriving Bitcoin circular economy through the Bitcoin Jungle experiment.
Festival Overview
A 5-day immersive festival featuring:
World-class music on outdoor stages with live performances all day and night.
Bitcoin talks, workshops & group discussions on freedom, Nostr, and spirituality.
Yoga, art, and ceremony experiences to explore holistic well-being.
Side quests like surfing, diving, jungle treks, and epic sunsets.
Circular economy—spend sats to eat, drink, shop, and stay!
Featured Speakers
Lee Salminen
Co-founder of Bitcoin Jungle, organizer of Bitcoin Freedom Festival and Nostrica 2023, helping businesses adopt Bitcoin in Costa Rica.
Francis Pouliot
Bitcoin entrepreneur, CEO of Satoshi Portal, and creator of Bylls, Bitcoin Outlet, and Cyphernode, building infrastructure for the Bitcoin Standard.
Richard Scotford
Co-founder of Bitcoin Jungle and Bitcoin Freedom Festival, former Hong Kong protest journalist, using Bitcoin to fight tyranny.
Eduardo Kopper
Costa Rican renewable energy pioneer, leading a 100% hydro-powered Bitcoin mining operation, merging green energy with Bitcoin.
... and more! Click here for more speaker info.
⚡ Join Us!
We can’t wait to see you and start spreading sats together in paradise!
Not in town for this? Check out all the Bitcoin events at bitcoinerevents.com.
Meme of the Day
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