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SF was preparing to experiment with Liquid swaps when a hack froze swaps, and said Adam had reported that service restoration was nearing. SF took the incident as a reason to stick with on-chain Bitcoin and Lightning.
Francis Hunt links Adam Back's linguistic style and Blockstream's early Jeffrey Epstein-connected funding to Satoshi Nakamoto. Simon Dixon counters that cryptographer Len Sassimon is a more plausible candidate, having committed suicide shortly after Gavin Andresen met with the CIA.
Francis Hunt asserts that Adam Back likely authored the Bitcoin white paper, citing a New York Times linguistic analysis showing a near-perfect stylistic match. Simon Dixon disputes this, arguing Back was absent from the early community and only appeared in 2013.
Simon Dixon confirms that Blockstream, founded by Adam Back in 2014, received early funding connected to Jeffrey Epstein through MIT's Joi Ito. Simon Dixon notes that Back has never publicly refuted allegations of visiting Epstein's private island with co-founder Austin Hill.
Adam developed Babylonia to address standard CoinJoin vulnerabilities, where change outputs are easily linked to inputs via subset sum analysis. Babylonia uses probabilistic payments to obscure exact transaction amounts and break ownership heuristics.
Adam traces the concept of statistical micropayments to a 1997 paper by Ron Rivest proposing lottery-style digital cash payments. Later, Tadge Dryja proposed probabilistic payments for Lightning to economically handle sub-satoshi transactions.
Babylonia utilizes adapter signatures and zero-knowledge proofs to let parties execute a trustless, on-chain bet that reveals outcomes atomically. To prevent amount correlation, Adam updated the protocol to split single bets into multiple secret, unequal portions.
Liquid Network attackers returned 3,400 of the 4,000 stolen Bitcoin but kept nearly 600 coins as a ransom. Adam Back confirmed the Liquid peg will remain fully covered one-to-one, while Blockstream refuses to negotiate with the hackers.
Adam Back announced the Liquid network peg will remain one-for-one. Blockstream and its partners are plugging the remaining 600 BTC deficit after the hacker returned 3,400 BTC through encrypted OP_RETURN negotiations, keeping 15 percent as an unsolicited bounty.
Adam explains that Fake World Assets acts as an NFT purchasing protocol where depositors price their assets by backing them with ETH. Players randomly buy assets from the pool, with the option to sell them back for a payout.
Adam designed FWA's backing mechanism to solve the on-chain NFT pricing problem. Since marketplaces operate off-chain, requiring depositors to match their NFTs with ETH forces organic, market-driven pricing without relying on external oracle queries.
Adam launched the FWA token with a two-week restriction preventing direct purchases, allowing only active depositors and buyers to earn the token. This distribution method bypassed snipers and bootstrapped initial protocol liquidity during its critical launch phase.
Adam details how FWA protocol fees automatically purchase FWA tokens on the open market. The protocol redistributes these bought-back tokens to active users while permanently burning a portion of the supply.
Adam introduces Flair, an NFT launch pad where collectors pool ETH to back new collections at a fixed price. Artists earn revenue from accumulated pool fees over time rather than receiving an upfront, speculative cash-out from a mint.
Eric Conner suggests bridging FWA to Layer 2 networks to improve transaction speed and lower gas fees. Adam agrees but insists the protocol will remain strictly within EVM-compatible ecosystems due to development preferences.
MicroStrategy sold 1,690 Bitcoin for 108.6 million dollars to fund a preferred stock repurchase, while raising an additional 653.1 million dollars through common stock sales. Concurrently, Adam Back's H100 treasury company purchased 2,500 Bitcoin.
Vinny Lingham reports Elon Musk disengaged from Bitcoin around 2021 after conversing with Adam Back and others, perceiving they had "lost the plot," and has not spoken about Bitcoin in five years.