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ALEO: Road to Mainnet Updates
June 23, 2024
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⚠️ Another one to keep your eyes on... 💎~The Dinarian⚠️

June 2024

We’re now four months along the Road to Mainnet, as our team and community gears up for the final push towards launch. This month, we achieved major milestones that include making our CanaryNet publicly available, testing core functionality against our acceptance criteria, and launching Testnet Beta. 

Our next major milestones are code freeze, which is scheduled for June 15, and finalizing the fully-featured Coinbase Puzzle by the end of June. 

CanaryNet now publicly available

This month, we deprecated the canonical Devnet in favor of having the community run their own isolated devnets to support third-party development and testing to help empower the community to submit bug fixes and protocol upgrades. We also made CanaryNet, previously a closed network, available to the public so they can access new features as soon as possible. When these features are fully validated, they will be upgraded to Testnet Beta.

Testing progress update

In March, we began our weekly core developer meetings with key ecosystem partners and established 7 acceptance criteria required for mainnet, outlined below in more detail under “Mainnet Test Plan.”

Since then, we’ve successfully tested all core functionality. After introducing a few updates, we plan to rerun the acceptance criteria again in Testnet Beta to ensure all new changes are working correctly. We are also implementing the final feature updates to the codebase, including updates to ARC-0041, and are preparing to release the fully featured Coinbase Puzzle.

Deploy on Testnet Beta now

Testnet 3 is officially deprecated and Testnet Beta, a new, public development environment is live, which will allow us to test our acceptance criteria in a more realistic, mainnet-like environment. If you haven’t migrated your app yet, set aside some time and join the folks already running on Testnet Beta.

The updated API endpoints are available below:

To start using and participating in Testnet Beta, you can get Testnet credits from the official Aleo faucets hosted on Leo Wallet and Puzzle Wallet.

Join the ARC-0041 audit contest

Passionate about sniffing out vulnerabilities and interested in making an impact on the security of the Aleo Network? We recently announced our partnership with Sherlock on the ARC-0041 contest, which offers $155,000 for pinpointing and describing code vulnerabilities in ARC-0041. You can register to participate now and begin submitting vulnerabilities on June 10th at 3pm UTC. 

Reaching these milestones has been no small feat, and it has taken no shortage of dedication and hard work. As always, we appreciate how our community comes together to support us as we work together to create a world where a secure blockchain is the new normal.

May 2024

One day, we anticipate that the Aleo Network will secure billions of transactions and data points. This means that certain aspects of the protocol (specifically, the cryptographic logic and consensus as it pertains to value) must be ready from day one. Together with dozens of ecosystem participants, the team is working towards fulfilling a set of acceptance criteria and testing methodology to help provide assurance of the highest standards of security. 

Since our last update in March, we’ve made strides towards our final goal of a mainnet launch. For starters, we implemented ARC-0037 and 0038 with the help of community partners StorSwift, Demox Labs, and Puzzle. These proposals greatly improved the security and usability for validators and delegators and created a new, program-based system for token delegation or “staking.” 

Additionally, the underlying protocol has also been updated to incorporate previous audit fixes, which includes incorporating a fully-synchronous BFT assumption into our Narhwal-Bullshark implementation, updates to the foundational credits.aleo program, and improved client sync performance.  

We’ve validated over 90% of our previously specified test cases in multiple testing environments, including a closed “DevNet” and a semi-open “CanaryNet”. In addition, we have completed testing the Coinbase Puzzle on Devnet and created cannons for public transactions, private transactions, and deployments for easier automated testing.

Testing in progress for ARC-0020

We’ve begun testing a new ARC, ARC-0020. ARC-0020 is a token standard enabling seamless public/private transfer to contracts, which is important for enabling secure DeFi applications on the Aleo Network. It adds several key features, including a one-step approval process for applying off-chain signatures, the ability to send private tokens to smart contracts, and the ability to connect token contracts to the company website using a digital signature. 

Some may be familiar with the popular ERC20 standard, ARC-0020 is similar and different in a few ways. Both define a framework for token interactions on the respective blockchains, featuring similar mechanisms for token transfers, balance inquiries, and third-party transaction approvals. However, ARC-0020 is unique by emphasizing security and efficiency in its operations, using offchain signatures to replace onchain approvals, reducing the amount of data publicly recorded on the blockchain. This approach aims to enhance data security compared to ERC20’s fully public transaction and approval records.

After numerous discussions among various community and ecosystem stakeholders, we’ve reached the current design of ARC-0020. Commenting and voting around ARC-0020 will be on the Aleo Governance platform here. We’ve added unit testing and trialed the initial implementation with ecosystem builders, and hope to implement it soon


Mainnet Test Plan

Two weeks ago, we announced our commitment to transparent updates around the criteria for and progress towards Aleo mainnet. Our belief that every individual has the right to privacy online has led us to this moment: creating and launching a network that is truly zero-knowledge by design.

Today, we’re ready to share our plan for a mainnet launch, the features needed to make it successful, and what you can expect going forward.

Programmable. Private. Permissionless.

We’re committed to launching a mainnet that fulfills Aleo’s core principles — programmable, private, and permissionless. We met with several of our ecosystem partners and established a set of baseline features that were most important to everyone, and from these defined the minimum acceptance criteria needed for a confident mainnet launch. 

Together, we worked to outline the features that could not be compromised on. In order to validate the features and their respective acceptance criteria, test cases were defined and agreed upon by not only members of the Aleo Foundation, but also the broader community of Aleo stakeholders. Each feature detailed below has three specific test cases with increasing amounts of stress to satisfy the minimum acceptance criteria and ensure the network is ready to launch.

aleoBFT Consensus

AleoBFT is our novel consensus mechanism that combines the finality of proof-of-stake with the powerful incentive mechanism of proof-of-work. This hybrid architecture helps us achieve instant finality for block confirmation while utilizing a “coinbase puzzle” to reward provers and incentivize the development of better hardware for zero-knowledge cryptography.

Our goal is a secure and resilient consensus system that minimizes downtime,  is robustly Byzantine fault tolerant, and ensures validators can rapidly synchronize to the latest network state, maintaining overall system integrity and performance.

Client Sync

Client synchronization is crucial for the proper functioning of a network, as it ensures that all participants have a consistent and accurate view of the global state. We're focused on ensuring client nodes can sync from any point in the ledger history to tip quickly and reliably.

This involves optimizing two key methods:

  • CDN snapshots for rapid updates

  • Peer-to-peer gossip for efficient, direct data sharing among nodes

Private & Public Transactions

Public and private transactions, both integral to our mainnet launch, are distinct yet interconnected features we're rigorously testing. Users can generate zero-knowledge proofs to transfer value via the record model, as specified in “ZEXE: Enabling Decentralized Private Computation. For public transactions, users have the capability to transparently update the state using the finalize statement.

Program Deployments

Enabling the development of applications on Aleo is key to our mission, with program deployment playing an essential role. Users will have the capability to create new Aleo programs, utilizing the execute and finalize statements to bring their applications to life. This functionality is foundational to expanding our ecosystem and empowering developers to innovate within Aleo’s secure and privacy-focused environment.

Coinbase Puzzle

The coinbase puzzle is a proof-of-work-type puzzle that is intended to incentivize the development of faster software and hardware for generating zero-knowledge proofs. Provers can submit valid solutions to a coinbase puzzle to receive a reward.

We're integrating the coinbase puzzle to drive advancements in zero-knowledge proof technology, rewarding provers in a way that maintains network stability and sustainable tokennomics.

Staking (ARC 0038

Users have the ability to stake Aleo credits to a validator. Our community partner, Demox Labs, will be leading the effort to implement ARC-0038 on the program level, as well as an audit of that implementation to ensure that the approach is secure. Demox will also be implementing a liquid staking protocol to provide even more flexibility for staking.

Validator/worker separation (ARC 0037)

Our community partner, Provable, has taken the lead on ARC-0037 and published an implementation and design spec that is being reviewed and tested by another one of our community partners, Puzzle.

ARC-0037 aims to reduce the security burden on validators by providing a separate withdrawal address. To address security concerns, during bond_public, validators and delegators designate an unchangeable withdrawal address, securing validator funds in case of compromised "hot" keys. Unbonded credits are directed to this address upon executing claim_unbond_public.

Conducting robust network testing

Several teams from the ecosystem, namely Demox LabsMonadicusSupranationalPuzzle, and Kryha, collaborated with us to extend the testing protocol to ensure the network's readiness for launch. To achieve this, we're introducing a range of testing tools. These tools include a genesis block generator, ahead of time (AOT) transaction and block history generation, and node topology management systems. Additionally, we've launched a canary network in partnership with these ecosystem members. These testing tools help us check how well the network's consensus mechanism works, how smoothly clients sync up, and how fast transactions are processed.

To test these various features against their acceptance criteria, the Aleo Network Foundation team will set up and run a series of test environments, starting with an internal devnet and “canary net”. The devnet is an internal testing environment where the Aleo Network Foundation and Provable are managing the testnet validator rollout, and where initial features are tested before being released upstream. The canary net is a more decentralized, semi-open network that, lets us test the network under more realistic conditions. 

We also plan to launch another testnet, which will be fully open and permissionless, and which should most closely approximate what the Aleo mainnet will look like.

What’s next

Our community has been a part of the Aleo story from the beginning. As we come together to launch mainnet, we are working closely with partners across the ecosystem to support the testing efforts and to verify our readiness. It is our goal to ensure the network meets the needs of our users, not just on day one, but every day after that. It’s truly a team effort, and we want everyone to be aware of our progress towards completing each of these important tests

 

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🇺🇸 Jerome Powell said banks are free to provide Bitcoin and crypto services

TRILLIONS incoming 🚀

00:00:24
This Is A CONGRESSWOMAN, LISTEN..

🚨 “Something Big Is Being Hidden… 3IATLAS” – Congresswoman Luna Breaks Silence 🚨

Congresswoman Anna Paulina Luna has spoken out about the mystery of 3I/ATLAS, showing her full support for Harvard scientist Avi Loeb’s investigation. She’s now teaming up with Loeb to uncover what the government might be hiding about non-human life forms, and why access to key footage is being blocked from the public.

Luna says this fight for UFO and ET disclosure is a bipartisan battle, but warns that powerful forces inside the intelligence community and the Department of Defense are pushing back hard to keep the truth hidden.

Meanwhile, sources claim that NASA’s Mars Reconnaissance Orbiter (MRO) captured rare images of 3I/ATLAS on October 2–3, but those pictures still haven’t been released — adding even more mystery to the case.

Could this be the moment the truth finally breaks through? 👀

00:03:33
🚨BREAKING: Today, the LAST Penny will be minted!

🚨BREAKING: IT'S OFFICIAL: The US Mint will officially STOP minting pennies. Today, the LAST Penny will be minted!

One Penny Costs the U.S Taxpayer $0.37 cents to Mint.

U.S. Mint lost $85,300,000,000 BILLION minting pennies in FY2024 alone.

00:01:00
👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
💠 Users set up personalized agents in < 3 minutes
💠 Equipped w/ crypto wallet and on-chain functions
💠 Capable of completing trades, swaps, and staking
💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto 👉txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

👉 Coinbase just launched an AI agent for Crypto Trading
Pyth’s TradFi arc is here 🏛️

Pyth Pro is bringing a wave of institutional demand: record inbound leads, new firms connecting to the network, and the expansion of real-world data coverage.

Q3 was Pyth’s biggest step yet. Full @MessariCrypto breakdown ⬇️

https://messari.io/report/state-of-pyth-q3-2025

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🚨 BITCOIN PRICE FALLS BELOW 100K DESPITE US GOVERNMENT REOPENING 🚨

Bitcoin’s price has dropped below 100,000 despite the reopening of the US government. This decline comes as a surprise, given the expected liquidity boost from the end of the government shutdown.

🔑 Key Points

  • Price Decline: Bitcoin’s price has fallen below 100,000, marking a significant drop from its previous levels. This decline is attributed to a combination of factors, including market fatigue and profit-taking.

  • US Government Reopening: The US government has reopened, which was expected to inject liquidity back into the markets. However, Bitcoin’s price has not responded positively to this development.

  • Market Sentiment: Analysts suggest that the decline could be due to profit-taking by large holders and a general market cooldown. The reopening of the government has not yet translated into a significant liquidity boost for crypto markets.

💡 Why It Matters

  • Market Dynamics: The decline in Bitcoin’s price ...
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XRP ETFs & Funds On Deck 👀

Proposed XRP ETFs and funds:

  • Bitwise XRP ETF
  • Grayscale XRP ETF
  • 21Shares Core XRP Trust ETF
  • Canary Capital XRP ETF
  • WisdomTree XRP Fund
  • CoinShares XRP ETF
  • Invesco XRP ETF
  • VanEck XRP ETF
  • Fidelity XRP ETF
  • ARK Invest XRP ETF
  • Galaxy Digital XRP ETF
  • ProShares XRP ETF
  • Hashdex XRP ETF
  • Volatility Shares XRP ETF
  • Volatility Shares 2x XRP ETF (a leva doppia)
  • Volatility Shares -1x XRP ETF (inverso)
  • Franklin Templeton XRP ETF
  • Franklin Templeton Spot XRP ETF (cboe)
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3I/ATLAS — Secret Laws Of Gravity
Unlocking the future of space travel through the precise calculation of time and orbital trajectories.

"My preliminary analysis suggests two principal hypotheses regarding the reported phenomenon known as '3I/Atlas':

  1. A Coordinated Psychological Operation (PsyOp): The phenomenon may constitute a calculated effort to manipulate public sentiment or induce fear, potentially preceding a planned, large-scale deception (referred to informally as 'Project Bluebeam').

  2. A Highly Anomalous Object: Alternatively, the phenomenon represents an authentic, significant anomaly warranting serious scientific or intelligence scrutiny.

Regardless of its origin, '3I/Atlas' represents an historically noteworthy development that necessitates close, informed observation."

 

~Crypto Michael | The Dinarian 🙏

Abstract Introduction:

New data is now showing something that arrived early and its changing colors as we previously predicted.

In orbital mechanics where trajectories are calculated centuries in advance with accurate precision measured in seconds.

A 11-minute deviation is not a rounding error.

It’s not a typo in the database.

It’s not close enough.

"It’s Physically impossible.”

Now The longest government shutdown in U.S. history still blocking NASA releases while the object executed its closest Fly-by approaches to Mars, The Sun and Venus at the moment of maximum observational blackout.

But orbital mechanics don’t care about “government shutdowns.”

Our observations Don’t Stop.

And the math doesn’t wait for “Press releases.”

The math says this:

“If 3I/ATLAS is natural, it should have lost about 5.5 billion tons of mass.”

It didn't.

1. The 5.5 Billion Ton Problem:

Let’s start with what everyone agrees on: 3I/ATLAS “now” arrived earlier than pure gravitational predictions would allow. Even though we have been mentioning this trajectory change over 2 Weeks ago (October 21st Article HERE) TRACKING 3I/ATLAS .

The scientific consensus explanation? “Natural outgassing” the "rocket effect." As water ice sublimates near the Sun, it creates thrust, like a slow-motion rocket engine powered by evaporating ice. Comets do this all the time. It’s normal. It’s natural. It’s explainable.

Except for ONE problem.

The Physics Don’t Add Up!”

To generate enough thrust to arrive approximately “11 minutes early” would require shedding a staggering amount of mass.

Our calculations show “over 5.5 billion tons” of gas ejected over the perihelion passage.

Think about that for a moment.

That’s not a little puff of vapor.

That’s not some gas leaking from surface cracks.

That’s 15% of the object’s total estimated mass.

If 3I/ATLAS lost that much material naturally, it would create a debris cloud larger than Jupiter’s magnetosphere—visible to amateur telescopes from Earth. Absolutely impossible to miss in professional observations, and bright enough to be catalogued by every sky survey on the planet.

1.1 ~ The Plume Paradox:

Here’s where it gets interesting:

No such cloud has yet to be observed.

Not by Hubble. Not by JWST. Not by ground-based observatories. Not by the Mars orbiters that watched it pass at 30 million kilometers.

The brightness remained within “expected limits.” The coma showed stable & geometric shifting features. The tail structure now disappeared (but that’s another story). The main one is that: “The debris cloud that should exist — simply doesn’t.”

This isn't a minor discrepancy.

This is complete, mathematical failure of the natural comet hypothesis.

Part 2: The Industrial Signature:

So if natural sublimation didn't create the thrust, what did?

The answer is hidden in the chemistry—specifically, in what shouldn’t be there. “The Nickel Anomaly.” When multiple astronomers analyzed 3I/ATLAS’s spectral signature, they found something extraordinary: “nickel vapor” (Ni) at extreme distances from the Sun, where temperatures should be far too cold for metals to vaporize naturally.

Nickel doesn't just evaporate on its own at those temperatures.

It needs HELP.

And there’s only one known process—natural or industrial—that produces a volatile nickel-carbon compound at cold temperatures which we have said several times previously;

Nickel Tetracarbonyl: Ni(CO)₄

This is not a natural cosmic process.

This is an “industrial chemical pathway” used on EARTH for metal refinement!!!

It forms at 120°C and decomposes at 180°C allowing nickel to vaporize at temperatures where water ice would remain frozen solid.

It is LITERALLY, an industrial refrigerant for metal processing.

The presence of Ni(CO)₄ in the plume tells us two things:

  • The core is not ice — It’s a nickel-rich, engineered structure.
  • The process is not passive sublimation — it’s an active, controlled system.

The nickel vapor isn’t contamination.

It’s not a coincidence.

It’s Exhaust.

3. Secret Gravity (SOEG) Model:

This is where our research team proposes something NEW.

We call it The “Self-Optimizing Ejection Guidance (SOEG) Model”

A Brand New Scientifically defensible framework that explains the acceleration not as chaotic outgassing, but as “controlled propulsion.”

The SOEG Model (Project EE / 3IE)

The System:
• Volatile Reservoir — CO₂ ice + Nickel-rich metallic core.
• Solar Heating — Perihelion triggers sublimation at optimal moment.
• Magnetic Ionization — Internal magnetic field ionizes nickel vapor into plasma.
• Anisotropic Jets — Plasma channeled through focused nozzles. (not random cracks)
• Thrust Optimization — Maximum momentum transfer with minimal mass loss.

Unlike natural cometary outgassing—which is chaotic, omnidirectional, and wildly inefficient. The SOEG Model Fully Represents: (CONTROLLED, DIRECTIONAL, OPTIMIZED PROPULSION.)

It’s the engineering solution to interstellar navigation: Using a “magnetofluidic drive” that uses the Sun’s + Nearby Planets & Star energy to activate a propulsion system that was BUILT.

The secret is in the magnetic field. By ionizing the nickel-carbon vapor into a high-velocity plasma jet, the system achieves thrust efficiencies that natural sublimation could never match.

This isn’t science fiction. This is “magnetohydrodynamics” the same physics that powers experimental plasma thrusters being developed by NASA and ESA for deep-space missions.

The difference?

We’re building prototypes…

Someone else already perfected it.

4. The Scientific Statistical Test:

Here’s what makes it undeniable.

Natural comets exhibit HIGH temporal variance in their acceleration parameters.

Technical terms like (A₁) and (A₂) that describe how thrust changes over time. Natural outgassing is messy, chaotic & unpredictable.

Our Prediction:

We formally predict that when sufficient post-perihelion data is published — expected from JUICE observations (data release February 2026) and ground-based telescopes through December 2025— 3I/ATLAS WILL show:

  • (A₂ parameter near zero) — phase-locked rotational coherence.
  • Temporal drift < 0.5σ — stability far beyond natural variance.
  • “Thrust vector alignment” with rotational axis — body-fixed engine signature.

If ALL 3 conditions are met.

The probability that 3I/ATLAS is a natural comet drops below 0.01% (a >4σ statistical rejection).

This is not speculation. This is a time-stamped, falsifiable prediction.

By February — March 2026, we will either be proven right or wrong.

The data doesn’t care about our theories. It only cares about what actually happens.

5. The Blue Hue 🔵:

Now there’s one more piece of evidence—and it’s visible to the naked eye (well, through a telescope). “The Color Anomaly.”

Natural comets scatter sunlight off dust particles, producing a yellowish-red glow. At 1.36 AU from the Sun, 3I/ATLAS should have appeared reddish-orange from thermal emission.

Instead, observers noted something strange: “A distinct blue fluorescence” in the coma.

What Blue Light Means?

Blue emission in a comet’s coma comes from highly ionized species—primarily “CO” (carbon monoxide ions) and certain excited metallic vapors. This requires enormous, “FOCUSED” energy to achieve.

You don’t get this level of ionization from passive solar heating. You get it from ~ Active Plasma Generation. The blue hue is the visible proof of the SOEG engine operating at perihelion. It’s the "engine glow" of a magnetofluidic drive generating high-energy plasma to achieve maximum thrust efficiency.

Compare:
- Natural comets (Hale-Bopp, NEOWISE, 67P, Etc.): Usual Yellowish-red dust scattering.
- Expected for 3I/ATLAS at 1.36 AU: Reddish-orange thermal glow.
- Observed in 3I/ATLAS: Distinct “Blue” plasma fluorescence.

This isn't subtle.

This is the difference between reflected sunlight and an active thruster firing.

5.5 ~ Convergence of Evidence:

Let's put it all together.

The Self-Optimizing Ejection Guidance (SOEG) Model is not speculation. It’s not wild theorizing. It’s one of the only frameworks that coherently explains:

✅ The early arrival— non-gravitational acceleration without natural explanation.

✅ The missing 5.5-billion-ton debris cloud — controlled thrust with minimal mass loss.

✅ The Ni(CO)₄ industrial signature — engineered propulsion chemistry.

✅ The blue plasma glow — active ionization system visible during perihelion.

✅ The statistical impossibility — phase-locked stability beyond natural variance. (pending verification)

However each piece of evidence, standing alone, is anomalous but potentially explainable.

Together, they form an interlocking pattern that demands a technological origin.

But then there’s the Silence.

Venus conjunction: Still offline.

This is not incompetence.

This is recognition.

THEY know something we’re still calculating.

December 19, 2025: 3I/ATLAS reaches closest approach to Earth at 167 million miles.

“If the calculations are correct, the 5.5-billion-ton debris cloud should be impossible to miss. Every telescope on the planet will be watching.”

All of this new information scheduled to be released should definitely include the following: High-resolution spectroscopy, morphological analysis, particle environment data and MOST CRITICALLY the astrometric parameters that will confirm or refute our SOEG model’s predictions.

“If the A₂ parameter shows phase-locked stability, the SOEG model is confirmed.”

Conclusion:

The Numbers Don’t Lie. The orbital path was not set by gravity alone. The acceleration was not powered by ice. The chemistry was not natural. And the timing is not “coincidental.”

3I/ATLAS is a message written in orbital mechanics, plasma physics, and industrial chemistry—a message we have “74 days” left to fully decode.

The mathematics are clear.

The predictions are calculated.

We don't have to speculate about what it is.

We just have to (wait) for the complete data packet to arrive.”

And when it does, one of two things will happen:

Either the natural hypothesis survives (unlikely, given the evidence). Or we confirm what the numbers have been screaming to us since October are TRUE.

Something pushed it. Something controlled it. Something arrived exactly when it needed to.”

Or The A-parameters will lock.

The plasma signature will confirm.

The debris cloud will be absent.

And the institutional silence will make perfect sense.

Because you don’t announce a discovery like this through a press release.

You announce it through a “Calculated Strategy.”

Analogy Conclusion:

The orbital path was set by laws that were not known,
For where the starlight failed, a force was subtly sown.

No dust and ice, but Nickel in the plume’s blue gleam,
A pulse of hidden power, of controlled, forgotten dreams.

The A-Parameter locks, The true secret of the sphere,
The Simultaneous Truth arrives, When all the numbers are near.

— Earth Exists

Additional Reference & Data Source Links 🖇️:

EARTH EXISTS Documentation:
- [Previous article. 35 Days of Silence — 3I/ATLAS]

Source

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BlackRock Is Manipulating The Price Of Bitcoin👀

Blackrock possess a strategic depth that goes far beyond initial appearances. When the general market perceives selling and traders respond with emotion, these major players are often operating on a much more profound level. They adeptly identify and leverage every available mechanism to influence market dynamics. Their power isn't in direct control of the asset, but in understanding how to move the market without ever taking direct ownership.

What entity has become the most prominent corporate champion of Bitcoin ($BTC)?

It's the one with the massive treasury holdings, known as Microstrategy.

 

However, the major strategic challenge lies here: the size of their Bitcoin position is fundamentally linked to their external financing, typically in the form of debt.

This reliance on significant debt creates an inherent vulnerability—a dependence on creditors and shareholders. When an entity's position is highly leveraged, that dependence makes them susceptible to market manipulation or strategic pressure from external financial forces.

When a highly leveraged corporate holder of a significant asset (like $BTC) faces external financial stress, that pressure inevitably transfers to the asset itself.

Blackrock's goal isn't to induce a market crash, but rather to establish a dominant position and control.

Any substantial sale of major cryptocurrencies like $BTC or $ETH initiated by Blackrock, can be interpreted not as routine trading, but as a deliberate effort to manipulate market sentiment and pricing.

Blackrock is deploying a sophisticated combination of tactics: they simultaneously generate market volatility through strategic sales of the asset ($BTC) while accumulating shares in key corporate holders (the stock symbolized by $MSTR).

The deeper intent is to leverage this equity stake to direct the corporate strategy of the highly leveraged Bitcoin champion.

With a sufficiently large ownership percentage, this influence becomes highly effective. The resulting market power is therefore a function of both manipulating price movement and controlling corporate policy.

Is Microstrategy (the company represented by the $MSTR stock) vulnerable to this kind of pressure? The evidence suggests yes.

A substantial stake held by Blackrock grants them effective leverage to influence and manipulate the company itself.

When the company's shares experience a significant decline, the leadership is often compelled to take action, potentially buying back their own stock. This action is driven by the fact that falling share prices directly intensify financial and market pressure on the entire organization.

If the stock of Microstrategy continues a sustained decline, lenders will inevitably begin to re-evaluate and revise the terms of existing loans. This is a critical point of failure for the entire strategy.

The fundamental operational model of this corporate champion works like a closed loop:

  • It secures debt financing (taking loans) to acquire $BTC.

  • Alternatively, it issues new equity (selling shares) to acquire $BTC.

Crucially, the ongoing interest payments on this substantial debt are often managed by the mechanism of issuing even more shares, creating a continuous cycle of dilution and reliance on a high stock price.

A major consequence of rising leverage is the escalating cost of borrowing, requiring Microstrategy to source even larger amounts of capital.

The most straightforward solution—to issue and sell more stock—proved to be insufficient.

In fact, the situation worsened: the company’s recent attempt to raise funds through a stock offering did not fully sell out. This failure directly resulted in a significant liquidity shortfall, hamstringing Microstrategy’s ability to meet its financial obligations and continue its asset acquisition strategy.

And the ultimate shock came when Microstrategy—the very entity that vowed it would never liquidate its holdings—began to sell.

These weren't insignificant trades; the sales were valued at billions of dollars.

The key question now becomes: Does this sudden, massive reversal signal the imminent collapse of Microstrategy, or is it simply a necessary, albeit drastic, maneuver of 'business as usual' under extreme duress?

There appear to be two primary strategic objectives behind Blackrock's calculated moves:

  • Scenario A (Direct Dominance): Blackrock aims to neutralize its most prominent competitor (the corporate Bitcoin accumulator) in order to seize the title as the largest holder of $BTC.

  • Scenario B (Indirect Control): The institution’s goal is to establish absolute market control and influence, preferring to leverage Microstrategy to execute the most aggressive or politically difficult actions.

The outright financial destruction of Microstrategy is highly improbable. Such an action would trigger a severe market crash that could take years to fully repair.

The far more intelligent strategy is integration and control.

Under this model, Microstrategy remains operational, while Blackrock secretly dictates strategy. This allows Microstrategy to absorb the market blame for any necessary but controversial manipulation, a classic and often dirty tactic used by high-powered financial entities.

In the immediate future, the market will continue to exhibit strong reactions to the strategic maneuvers of Blackrock.

When they execute sales, it instantly captures headlines, is aggressively amplified by the media, and causes fearful retail traders ('weak hands') to panic and exit their positions.

Every decrease in price that results from this panic directly translates into a superior entry point for Blackrock. This clearly illustrates that the current market environment is driven purely by emotion, making it a survival game reserved only for those with the strongest resolve.

In the long run, the nature of $BTC will likely shift, moving away from its original ideals of being completely free and decentralized.

The vast majority of the available supply is projected to become highly concentrated within a small number of major corporations and investment funds.

Consequently, the price cycles will no longer be reliably tied to events like halvings or popular narratives. Instead, they will be driven primarily by government and central bank policy decisions, overarching macroeconomic conditions, and the internal political maneuverings of the world's most dominant funds and corporations.

Blackrock's goal is not to eliminate $BTC; instead, they are focused on constructing an elaborate system of control around the asset.

Microstrategy (the stock symbolized by $MSTR) remains a powerful tool, but it now operates under terms and directives that the company's leadership no longer fully dictates.

Since direct command over the decentralized asset is impossible, control is established through strategic influence over the largest corporate and fund custodians. Moving forward, Blackrock will be the primary entity determining the market's trajectory.

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A Request for NASA to Release Scientific Data on 3I/ATLAS

During my recent podcast interview with Joe Rogan (accessible here), I had mentioned the unfortunate circumstances, under which NASA had not released for four weeks the images collected by the HiRISE camera onboard the Mars Reconnaissance Orbiter. These images were taken on October 2–3, 2025, when the interstellar object 3I/ATLAS passed within 30 million kilometers from Mars. The images are extremely valuable scientifically because they possess a spatial resolution of 30 kilometers per pixel, about 3 times better than the spatial resolution achieved in the best publicly available image from the Hubble Space Telescope, taken on July 21, 2025 (accessible here and analyzed here). Whereas the Hubble image was taken from an edge-on perspective since Earth and the Sun were separated by only ~10 degrees relative to distant 3I/ATLAS, the HiRISE image offers a sideways perspective, valuable in decoding the mass loss geometry and glow around as it approached the Sun.

The delay in the data release was argued to be the result of the government shutdown on October 1, 2025. Nevertheless, conspiracy theorists suggested that it may have to do with evidence for extraterrestrial intelligence in the HiRISE images. When asked about it, I suggested that the delay is probably not a sign of extraterrestrial intelligence but rather of terrestrial stupidity. We should not hold science hostage to the shutdown politics of the day. The scientific community would have greatly benefited from the dissemination of this time-sensitive data as astronomers plan follow-up observations in the coming months.

Joe Rogan suggested that I contact the interim NASA administrator, Sean Duffy. The following day, I corresponded with congresswoman Anna Paulina Luna regarding a related formal request from NASA. Following our exchange, Representative Luna wrote a brilliant letter to NASA’s acting administrator Duffy.

We all owe a debt of deep gratitude for the visionary support displayed by Representative Luna to frontier science through her letter, attached below.

Avi Loeb is the head of the Galileo Project, founding director of Harvard University’s — Black Hole Initiative, director of the Institute for Theory and Computation at the Harvard-Smithsonian Center for Astrophysics, and the former chair of the astronomy department at Harvard University (2011–2020). He is a former member of the President’s Council of Advisors on Science and Technology and a former chair of the Board on Physics and Astronomy of the National Academies. He is the bestselling author of “Extraterrestrial: The First Sign of Intelligent Life Beyond Earth” and a co-author of the textbook “Life in the Cosmos”, both published in 2021. The paperback edition of his new book, titled “Interstellar”, was published in August 2024.

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